India signs $5 bn-worth of pacts to give impetus to iron and steel industry

The pacts were signed between 20 technology providers, capital goods manufacturers and steel producers for manufacturing of capital goods in India

Thirty-eight pacts worth $5 billion were signed among 20 technology providers, capital goods manufacturers and steel producers, which will give impetus to the manufacturing of capital goods for iron and steel industry. Of the 20 companies who exchanged the MoUs on Tuesday, about 12 are foreign players. 

The MoUs were signed at a conclave on Capital Goods for Steel Sector: Manufacture in India, organised by Confederation of Indian Industry (CII) jointly with Mecon and Steel Ministry. 

Some of the companies that signed the pacts were China-based ACRE, Italy-based CSM, Luxemburg headquartered Paul Wurth, Danieli Corus — supplier of tailor-made solutions for the