SAIL-Posco deal on last leg

Steel Authority of India is on the last level of discussion with Korean steelmaker Posco on the $12 bn steel project and that it should be finalised soon. Posco signed an initial pact with Steel Authority of India to set up a 500,000 tonne plant to make a high value auto grade steel plant in Bokaro, Jharkhand. The $12 bn Posco investment in India is supposed to be the biggest foreign direct investment in the country but had run into problems for the last six years.Contact: SAIL.Tel: 011-2436 7481. Fax: 011-2436 7015.E-mail: sailco@vsnl.comWebsite: www.sail.co.in