Arcelor, India negotiate on steel cooperation

Arcelor, India negotiate on steel cooperation

Indian Steel Minister Ram Vilas Paswan and a delegation of 12 officials from Luxembourg, including representatives of global steel giant Arcelor, met in India to discuss ways the two countries could broaden their cooperation in the steel sector. Arcelor representatives disclosed that they might invest in capacity expansion projects in India; however, no concrete proposal was discussed. Meanwhile, Paul Wurth, a leading provider of iron and steel technology, announced plans to sign a long-term agreement with Steel Authority of India Ltd. (SAIL) to supply technology for the Indian company's expansion plan worth Rupees 250 billion ($5.7 billion).