Kobe Steel and India’s public-sector company, Steel Authority of India Limited (SAIL) will collaborate on technology, projects and other areas.
The pair have already begun a feasibility study for a joint venture that uses Kobe’s ITmk3 ironmaking process.
With India’s steel industry and steel-related business showing remarkable growth and promising development for the future, Kobe Steel and Sail intend to build a relationship of mutual benefit under an MOU.
Both companies plan to form teams that will carry out collaborative work to lead to actual projects.
Projects/studies will be undertaken to explore the possibility of producing high value products, such as automotive, nuclear and conventional power plants, special alloy steel and bars, and stainless steel tube.
If the two businesses already have contractual agreements with other companies, the items covered under the agreements would not be considered in the MOU.
Both intend to build a relationship covering upstream to downstream processes, enabling them to mutually explore ventures in the Indian and global markets.