POSCO, SAIL plans new plant in Bokaro

New Delhi: Steel Authority of India Ltd. (SAIL) and South Korean steel giant POSCO are likely to come out with the detailed project report for jointly setting up a 1.5-million tonne steel plant in Bokaro, Jharkhand, within a month.

In May, both companies had signed a memorandum of understanding to set up a 1.5 million tonne integrated plant in Bokaro to produce high-grade steel from low-grade iron ore and non-coking coal by using the world's third largest steel company's FINEX Technology.