Talks between SAIL/POSCO on for JV in Bokaro: SAIL Chairman

SCO on for JV in Bokaro: SAIL Chairman Press Trust of India / Bokaro (Jharkhand) September 09, 2012 17:55 IST Steel Authority of India Limited (SAIL) Chairman C S Verma today expressed optimism of a positive outcome in the ongoing talks with the steel-making company, POSCO, for a joint venture in Jharkhand.

"Talks regarding setting up a joint venture in Bokaro between the SAIL and the POSCO are going on. We expect a result in this regard very soon," Verma told reporters here.

He said the public sector has set a target of 45 million tonne steel production by year 2020.

To expand its activity, Verma added, the public sector was trying to get iron ore from Afghanistan, Australia and other countries.

Stating that the SAIL has embarked upon extension and modernisation of Bokaro Steel Plant (BSP) and would spend between Rs 50,000 crore and Rs 60,000 crore, Verma said BSP