Steel Authority of India (SAIL) and Hyderabad-based Mishra Dhatu Nigam (Midhani), a defence enterprise has inked a memorandum of understanding (MoU) to utilize the public sector steel infrastructure for augmenting its production capacity. The defence enterprise has entered into strategic alliance with SAIL to meet the ever-growing demands for special materials for strategic applications of national importance. Both the companies has signed MoU for exploring synergetic business opportunities in production of value-added products, enhanced research and development activities, exchange of technical know-how and joint investment between the two companies.
The MoU envisages setting up of a joint task force team (TFT) to identify special steel products which 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, which houses some of the best equipment that could be utilised by Midhani would lead to a win-win situation for both the organizations. The alliance between the two companies would lead to indigenization of all the steels that are being imported by defence and other strategic sectors like atomic energy, space and power.
MIDHANI’s product range includes super-alloys, titanium, special steels, forged rounds, wires, strips, rings and titanium tubes. The Defence and Space sectors are among the major customers of MIDHANI.
| Company Name | CMP |
|---|---|
| Tata Steel | 138.95 |
| JSW Steel | 913.10 |
| SAIL | 115.50 |
| Jindal Stainless | 736.20 |
| Jindal Saw | 299.55 |
| View more.. | |
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