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.