Steel minister says he hopes Sail, ArcelorMittal resolve JV issues by May

India's steel minister said he hoped state-owned Steel Authority of India Ltd and ArcelorMittal SA would resolve differences over building an $897 million automotive steel plant before the deadline in May to close the deal. SAIL is banking on the proposed joint venture with the world's number 1 steel producer, ArcelorMittal, to help it move to higher grades of steel in the automotive segment.

A collapse of the proposal would further hamper its efforts to recover from seven straight quarters of losses. "Before the.

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