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SAIL Signs MOU with Mishra Dhatu Nigam for Product Development
06/21/2011 - Maharatna Steel Authority of India Ltd. (SAIL) and Mishra Dhatu Nigam Ltd., a Government of India enterprise, signed a memorandum of understanding to explore business opportunities in production of value-added products, enhance R&D activities, exchange technical know-how, and joint investment.
Maharatna Steel Authority of India Ltd. (SAIL) and Mishra Dhatu Nigam Ltd. (MIDHANI), a Government of India enterprise, signed a memorandum of understanding to explore business opportunities in production of value-added products, enhance research and development activities, exchange of technical know-how, and joint investment between the two companies.
The MOU calls for a joint task force team (TFT) to identify special steel products that can be jointly developed by utilizing the R&D facilities of both companies based on assessment of market demand and subject to techno-economic viability and commercial prudence. The TFT will also devise a plan for optimum utilization of facilities at SAIL and MIDHANI for production of quality and high-grade special steel products.
Identification of areas for joint investment and collaboration for production of special steel is also included in the scope of MOU.
SAIL Chairman C.S. Verma said that through the MOU, the two companies should achieve the goal of developing products indigenously that would act as 100% substitutes for steel products currently being imported by the Defense and Power sectors. He also noted that all targets should be fulfilled with the help of a time-bound roadmap and action plan, which is proposed to be ready within two months.
SAIL is India’s largest steel producer having a wide range of iron and steel products and byproducts. MIDHANI’s product range includes super-alloys, titanium, special steels, forged rounds, wires, strips, rings, and titanium tubes. The Defense and Space sectors are among the major customers of MIDHANI.
