SAIL forms JV with Jaiprakash Associates to set up a cement plant

Mumbai, June 27 (UNI) The public sector Steel Authority of India Ltd (SAIL) will pick up a 26 per cent equity in the joint venture company to be set up with Jaiprakash Associates Ltd (JAL) Informing the BSE, the Company said it has identified JAL as the strategic partner for setting up 2 million tonnes per annum slag based cement plant at its Bhilai Steel Plant, Bhilai. A letter of intent in this regard is being issued to JAL on June 27, 2006, the company said.

The proposed cement plant would use slag generated at the blast furnace of its integrated steel plant at Bhilai. Further, the lime stone would be made available to the Joint Venture Company from the lime stone mine of SAIL at Satna in Madhya Pradesh.

UNI SN PM SKB1851