Steel Authority of India Limited (SAIL) has entered into a strategic agreement with South Korean Steel maker POSCO for wide-ranging technical services for its IISCO Steel Plant (ISP) at Burnpur (West Bengal).
POSCO is to provide technical supervising services and maintenance of cokemaking, iron and steelmaking, and wire rod mills. SAIL-ISP has already completed its modernisation and expansion, is ramping up production from new facilities.
The agreement is a result of an earlier memorandum of understanding (MoU) on technical collaboration for operational improvement and human resource development which SAIL and POSCO entered last year.
“This technology agreement would pave way for sharing of best practices in the area of technology and maintenance, which would help SAIL-ISP in reaping benefits from its modernized units faster”, said SAIL Chairman K.P Singh.