Sail shortlists two bidders for stainless project

摘要

Steel Authority of India (Sail) has shortlisted two companies out of four who have expressed interest in being a joint venture partner for Salem Steel. The company is looking to form a joint venture with an established stainless steel producer with experience of international marketing of flat rolled stainless products.Salem currently has a 200,000 tpy capacity Steckel hot strip mill and a 70,000 tpy cold mill making various 300 and 400 series grades of stainless. Sail now wants to build a slab plant with a capacity of at least 100,000 tpy to feed the hot mill, and is prepared to be a minority partner in the venture.