# ArcelorMittal and Steel Authority of India board approves $1 billion joint venture

The board of Steel Authority of India approved a proposal to form a $1 billion joint venture with ArcelorMittal, the world's biggest steelmaker, to gain access to the Indian market.

- Type: Partnership
- Announced: 2017-12-14
- Where: India
- Value: $1.00B
- Status: announced
- Products: steel
- Sectors: [Steel and Metal Products](https://endata.com/sectors/steel-metal-products.md)

## Companies

- [ArcelorMittal](https://endata.com/companies/292.md) (partner)
- [Steel Authority of India Limited](https://endata.com/companies/11081.md) (partner)

## Sources

- [asia.nikkei.com](https://asia.nikkei.com/business/arcelormittal-set-to-form-venture-with-steel-authority-in-bid-to-gain-india-access), 2017-12-14: "ArcelorMittal, the world's biggest steelmaker, is inching closer to gaining a foothold in India as state-owned Steel Authority of India's board approved a long-pending plan to form a joint venture with the company."

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Data from Endata (https://endata.com/). Announcements are summarized from public sources and may be incomplete; check the linked originals.