SAIL to form JV with Jaiprakash Associates

New Delhi, June 27: Steel Authority of India Ltd (SAIL) today announced plans to form a joint venture with Jaiprakash Associates Ltd (JAL) for setting up a slag-based cement plant with a capacity of 2 million tonnes per annum at its Bhilai Steel Plant.

The company would hold a minority stake of 26 per cent with the remaining stake held by JAL.

The plant would use slag generated at the blast furnace of its integrated steel plant at Bhilai. Further, the limestone would be made available to the Joint Venture Company from the limestone mine of SAIL at Satna.

A letter of intent in this regard has been issued to JAL today, a company statement said here.

UNI