SAIL gives Posco

Steel Authority of India (SAIL) is set to sign a joint-venture agreement with the world's fourth-largest steelmaker, to set up a plant in the eastern town of Bokaro. Posco has been trying to get a steel plant running in India for the past five years. Its India plans received a jolt, with the Orissa High Court rejected the state government's recommendation to hand over the mines to the steel major because of land acquisition problems. The South Korean company is banking on SAIL's experience at running plants in the country to gain a foothold in the Indian market, given that steel demand in the country is expected to jump by more than 10% a year in the next decade. As for the Posco project, SAIL has agreed to offer over 2,500 acre of land that it owns in Bokaro for the plant. The two firms plan to set up a steel plant with a production capacity of 1.5 million metric tonnes a year, which could be gradually doubled. The plant is expected to have a provision to make up to 400,000 tonnes a year of specialised steel products.Air Max 95 Jacquard Flyknit