sail

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SAIL signs Joint Venture AgreementAnnouncement:Steel Authority of India Ltd (SAIL) has informed BSE that on January 14, 2009 the Company has signed a Joint Venture Agreement with Coal India Ltd, Rashtriya Ispat Nigam Ltd, NMDC Ltd and NTPC Ltd for setting up of a Special Purpose Vehicle i.e. International Coal Ventures Pvt. Ltd (ICVL) for acquisition of coal mines/block overseas for securing coal supplies. The Company will have its registered office in the National Capital Territory of Delhi and will be incorporated with an authorized capital of Rs 1 crore, which shall be increased from time to time depending upon needs of the Joint Venture Company.

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