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SAIL, Posco likely to have equal stake in JV

Thursday 3rd Nov 2011 1353

New Delhi : An equal joint venture agreement between state-run SAIL and South Korean major Posco is likely to be inked during Steel Minister Beni Prasad Verma's proposed visit to Korea starting November 5.

The shareholding pattern of the proposed venture is seen as a hurdle in signing the pact. The proposed joint venture aims to set up a plant at an investment of Rs 16,000 crore in Bokaro to produce three million tonne auto-grade steel.

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