Indian state-owned steelmaker SAIL has announced that it has started production at a steel processing unit established under public private partnership between SAIL and India-based Prime Gold Private Limited. The unit has been set up in Billowa, Madhya Pradesh under a joint venture. Prime Gold has a 74 percent stake and SAIL holds a 26 percent stakes in the unit which will produce world class thermo-mechanically treated (TMT) steel, while 60,000 mt of billets will be supplied from SAIL plants to the unit annually.
With setting up of the unit, a large number of direct and indirect employment opportunities will also be generated for the local population. The main aim of the unit will be to provide high quality steel at reasonable prices to areas around Madhya Pradesh like Uttar Pradesh, Rajasthan, Delhi and Haryana.