Steel Authority of India (SAIL), India's largest steel producer, and Posco, Korea's largest steel company, today signed a memorandum of understanding (MoU) for co-operating in a wide range of strategic business and commercial interest areas. G. Ojha, director (personnel), SAIL, and Soung-sik Cho, senior executive vice president and member of board, Posco, signed the MoU in the presence of SAIL chairman S K Roongta at the SAIL corporate office in New Delhi today. The MoU states that the partners have agreed to co-operate in the following areas of business: * Information sharing in the area of corporate strategy planning;* Exchange of engineers, technicians and other professionals;* Sharing of know-how and expertise in the areas of development of mines and business practices such as ERP, PI and Six Sigma; * Joint usage of each other's existing marketing and warehousing network; and* Co-ordination in procurement of coking coal, nickel and ferro-alloys and engagement of transportation vessels. The partners will establish a co-ordination group within two weeks to monitor, guide and review the implementation process of the MoU.
