SAIL and Kobe Steel to establish JV for iron-making project

Indian steelmaker Steel Authority of India Limited (SAIL) and Japanese steel producer Kobe Steel will establish a 50-50 joint venture company called SAIL-KOBE Iron India Private Limited to carry out a detailed feasibility study for an iron-making plant in India, as announced by Kobe Steel.
 
Following the memorandum of understanding signed in March 2010, Kobe Steel has developed new ‘ITmk3' iron-making technology.
 
The project includes one ITmK3 iron-making plant and associated facilities. The plant to be built at SAIL's Alloy Steels Plant in Durgapur in West Bengal will have an annual output capacity of 500,000 mt of iron nuggets. The plant will use iron ore from SAIL's mines.
 
The construction of the plant is expected to start in 2013 and to go into operation in 2015.