SAIL enters into JV with JAL to set up new cement plant

Mumbai, Mar 21 (UNI) The Steel Authority of India Ltd (SAIL) today informed the Bombay Stock Exchange (BSE) it has signed a shareholder agreement with Jaiprakash Associates Ltd (JAL) for formation of a joint venture company (JVC), wherein they would hold a minority stake of 26 per cent and the remaining 74 per cent stake would be with JAL.

The JVC will set up a cement plant for producing 2.2 million tonnes of cement at Bhilai in Chhatisgarh and at Satna in Madhya Pradesh, by using slag generated at Bhilai Steel Plant and lime stone from the Company's mines at Satna, a release by the company said.

UNI