The details of Memorandum of Understandings (MoUs) signed by Steel Authority of India Limited and NMDC Limited with foreign companies for setting up joint venture in the steel sector are given below:
| S.No. | Name of
the Indian Company |
Name
of the Foreign Company |
Date of signing ofMoU. | Details ofMoU/Present Status | Likely benefits. |
|
1. |
Steel
Authority of India Limited (SAIL) |
Kobe
Steel, Japan |
30/03/2010 | SAIL-KOBE Iron India Private Ltd., a 50:50 Joint Venture Company of SAIL and Kobe has been incorporated on 25.05.2012. At present Detailed Project Report (DPR) is being prepared jointly by SAIL and Kobe Steel. | ITmk3 is the latest technology for iron making. This technology was developed by Kobe Steel, Japan and is an alternative to BF-BOF route of steel making. Through Itmk3 technology, iron ore fines and non-coking coal could be used for iron nugget production. Itmk3 technology eliminates the requirement of setting up coke oven and sintering plant. |
|
2. |
Steel
Authority of India Limited (SAIL) |
POSCO
Limited, South Korea |
27/08/2009 |
SAIL and POSCO entered intoMoU for possible JV initiatives for setting up ofFinextechnology based steel plant atBokaro and a Cold Rolled Non-Oriented (CRNO) steel unit in Maharashtra. A DPR has been prepared jointly by SAIL and POSCO, which envisages aFinextechnology based steel plant at 3 mtpacapacity atBokaro and a 3,00,000tonnes CRNO unit at VileBhagadIndustrial Area in Maharashtra. | The FINEX technology which is an alternative to BF-BOF route of steel making is only operating at POSCO’s plant in South Korea. Finex is an innovative iron making process developed by Poscoand SiemensVAI for production of hot-metal based on direct use of iron-ore fines and non-coking coal.Finextechnology eliminates the requirement of setting up of sintering plant and coke oven and allows the direct use of low-cost ore fines and coal, bringing down overall plant installation and operational costs. Another advantage of Finex is the reduction of pollution, producing significantly less sulphurand nitrogen oxide than current furnaces. |
|
3. |
Steel
Authority of India Limited (SAIL) |
Kobe
Steel Limited, Japan |
30/11/2010 |
For exploring the possibility of setting up of an integrated steel plant atJagdishpurfor production of high value steel items mainly for Automobile, Railways and Power Sector. | |
|
4. |
NMDC
Limited |
Kobe
Steel Limited, Japan |
19/04/2010 |
Kobe Steel and TBDL have entered into an MoU to develop new iron making ITmK3 technologies using coal asreductant. | If theMoU with Kobe Steel fructifies into a Joint Venture, it will open up a new avenue of reduction of low grade iron ore using non-coking coal which will be highly beneficial for India. |
|
5. |
NMDC
Limited |
OJSC
Severstal, Russia |
10/12/2010 |
To set up a Joint Venture company for setting up a 3 million ton per annum steel plant in Karnataka under 50:50 Joint Venture. | It will result into production of high grade/auto grade steel and long products. |