The SAIL's board may grant up to 74 per cent equity to South Korean steel giant Posco in the proposed Rs 11,000-crore plant which is to be developed in Jharkhand.
Posco has claimed the stake on the basis of its patented FINEX technology and funding by South Korean government to develop the same. The technology uses iron ore fines and non-coking coal to produce high-grade steel, which could be further processed by SAIL to make specialised steel items. Posco currently runs a 1.5 million tonne per annum (MTPA) plant in
The proposed 1.5-MTPA plant in Jharkhand using Posco's technology will be developed on the site which was originally meant for Bokaro Steel Plant's new melting shop.
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