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Home arrow Alliances and Joint Ventures arrow SAIL & Kobe Steel sign MoU for comprehensive strategic collaboration
SAIL & Kobe Steel sign MoU for comprehensive strategic collaboration Print E-mail
Written by Anand   
Monday, 06 December 2010
New Delhi: Steel Authority of India Limited (SAIL) and Kobe Steel Ltd. of Japan have signed a memorandum of understanding (MoU) for comprehensive strategic collaboration covering technologies, projects and other areas. Both companies plan to form teams that will carry out collaborative work to lead to actual projects. Kobe Steel and SAIL have already begun a feasibility study for a joint venture that utilises the former’s ITmk3 iron-making process.

The MoU was signed by Mr. Hiroshi Sato, President & CEO of Kobe Steel, and SAIL Chairman Mr. C.S. Verma in the presence of Mr. P.K. Misra, Secretary (Steel), Government of India, and senior officials of the two steel companies.

As per this MoU specific projects and studies will be undertaken to explore the possibility of producing high value products, such as products for automobile; products for nuclear power plants and conventional power plants such as forged material and tubing material; special alloy steel and bars, and  stainless steel tube and/or any other product mutually agreed to between Kobe Steel and SAIL. If Kobe Steel and/or SAIL have contractual agreements with other companies, the items covered under such agreements would not be considered in the MoU.

SAIL and Kobe Steel wish to work together for meeting the requirements of sophisticated steel products for India’s growing economy. Both companies intend to build a cooperative relationship covering a wide range of fields, from upstream to downstream processes, which will enable them to mutually explore collaborative efforts and ventures in the Indian and global market.

SAIL is India’s largest steelmaker and has numerous iron ore and coal mines. Kobe Steel has world-class technologies for producing high value-added steel products, but also raw material processing and iron unit production including pellets, direct reduced iron and the ITmk3 iron-making process.

 
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