In order to enable SAIL, a steel Public Sector Unit to contest with peers in this sector worldwide, the chairman of SAIL has sketched a stratagem.

As a part of the scheme designed to race with the best in the world, Sail is enthusiastically chasing various collaborations and joint venture proposals with other steel biggies like Arcelor Mittal, Posco, Nippon etc.

This measure is being adopted in order to elevate all the units and produce steel using higher equipment and technology as this could be done only by bringing in technology from other countries or materializing joint ventures.

SAIL is already on the verge of concluding the joint venture of unit, a project of about 11,000 crore with POSCO in Jharkhand while discussions are still continuing with Nippon though nothing has been confirmed as of yet.

In a period of two months, the team at work on the draft feasibility report is scheduled to come up with some positive outcome and thus confirm the arrangement by October.

The project also includes the possibility of establishing two more mills in future with an investment of about 2000 crore more.