May 24, 2017 / 10:12 AM / 2 months ago

ArcelorMittal agrees on "some concession" to SAIL on planned $897 mln India JV

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NEW DELHI, May 24 (Reuters) - ArcelorMittal has agreed to extend "some concession" on technology transfer to India's largest state-owned steel producer Steel Authority of India and finalise a plan for the $897 million automotive joint venture.

"In the interest of the strategic partnership, some concession from ArcelorMittal on technology has been extended," a company spokeswoman told Reuters, without giving further details.

On Monday, India's Steel Minister Chaudhary Birender Singh said the talks between ArcelorMittal and SAIL were in the "final stages."

Reporting by Neha Dasgupta; Editing by Sherry Jacob-Phillips

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