<p>"In principle, we are not opposed to giving a majority stake to Posco in the joint venture, for which we will be seeking a Cabinet approval in a couple of months," the minister told reporters on the sidelines a summit here.<br /><br />SAIL and Posco are in discussions to set up a 1.5 million tonne integrated plant in Bokaro to produce high grade steel from low-grade iron ore and non-coking coal by using the world's third largest steel company's FINEX Technology.<br /><br />"The agreement between the companies is expected in the next two-three months," Singh added.<br /><br />Steel ministry officials had earlier said that the plant, to come on about 2,500 acre land within the premises of SAIL Bokaro Steel unit, could cost about Rs 12,000 crore.</p>
<p>"In principle, we are not opposed to giving a majority stake to Posco in the joint venture, for which we will be seeking a Cabinet approval in a couple of months," the minister told reporters on the sidelines a summit here.<br /><br />SAIL and Posco are in discussions to set up a 1.5 million tonne integrated plant in Bokaro to produce high grade steel from low-grade iron ore and non-coking coal by using the world's third largest steel company's FINEX Technology.<br /><br />"The agreement between the companies is expected in the next two-three months," Singh added.<br /><br />Steel ministry officials had earlier said that the plant, to come on about 2,500 acre land within the premises of SAIL Bokaro Steel unit, could cost about Rs 12,000 crore.</p>