India's largest steel producer, Steel Authority of India Ltd (SAIL), and South Korea's largest steel company, POSCO, have formed a joint working group to formulate their previously announced strategic alliance.
Commenting on the issue, SAIL chairman Mr. Sushil Kumar Roongta stated that the working group will consist of four members each from SAIL and POSCO, and that it will look into the assorted areas in which the two companies can form alliances. He also added that information sharing, enterprise resource planning (ERP) and Six Stigma would be among the areas where collaboration would be possible.
SAIL and POSCO signed their memorandum of understanding (MoU) for the formation of a strategic alliance on August 16.