SAIL enters into a JV with Tata Steel for mining coal

Mumbai: Steel Authority of India Ltd (SAIL), in a disclosure to the Bombay Stock Exchange (BSE) has announced that it has entered into a joint venture agreement with Tata Steel.

Under the agreement, the two will incorporate a joint venture company for the mining of coal in the state of Jharkhand. The agreement has been signed on 03 January, 2008.

SAIL and Tata Steel will hold 50 per cent each of the paid-up capital in the joint venture company, which will initially mine four identified coal blocks in India.