SAIL plans to invest in West Africa
Indian steel producer Steel Authority of
India Ltd (
SAIL) is reportedly planning to invest in West
Africa in order to build steel plants in the region. Ministry of External Affairs (MEA) has announced that
SAIL is even likely to invest in countries such as
Angola,
Chad, Equatorial
Guinea and Ivory Coasts.
It is stated that
SAIL is in talks with various countries in the region however no final decision on the subject has been made yet.
SAIL had previously announced that it planned to invest in countries other than
India.
SAIL officials stated that they plan to invest in West
Africa because they believe that the region has great business potential as it has been left untouched so far.