New Delhi: State-owned Steel Authority of India Ltd (SAIL) on Thursday said it has entered into a partnership with the Indian arm of John Cockerill Group for using green technologies in iron and steelmaking processes.
The development assumes significance as the maharatna firm remains committed to transform traditional iron and steelmaking practices by adopting advanced, sustainable technologies, the company said in a statement.
The Memorandum of Understanding (MoU) was signed by SAIL with John Cockerill India Ltd (JCIL), it said.
"The focus areas of this collaboration will be cold rolling and processing for carbon steel, green steel and silicon steel, specifically CRGO (cold rolled grain oriented) and CRNO (cold rolled non-oriented) steels," SAIL said in a statement.
The partnership also aims at incorporating advanced steelmaking technologies to enhance efficiency and sustainability.
SAIL is aligning its operations with the evolving demands of a dynamic market and to contribute to a greener, more sustainable future.
SAIL reported a 31 percent decline in consolidated net profit to Rs 897.15 crore in the September quarter, dragged by lower income.
(PSU Watch– India's Business News centre that places the spotlight on PSUs, Bureaucracy, Defence and Public Policy is now on Google News. Click here to follow. Also, join PSU Watch Channel in your Telegram. You may also follow us on Twitter here and stay updated.)