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Steel Authority of India scraps $1.2bn deal with Japan's Kobe Steel

Thursday 28th Jul 2011 140

Mumbai : Steel Authority of India (SAIL) has decided to terminate its joint venture with Japan's Kobe Steel for the revival of a steel plant in eastern India. The $1.2 billion plan, which included building a natural gas-fired plant has come asunder, with the Indian company fearing a shortage of fuel.

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