Indian steel giant Steel Authority of India Limited (SAIL) has announced that it has signed an agreement with CBMM (Companhia Brasileira de Metalurgia e Mineracao of Brazil) Technology Suisse SA, based in Geneva, Switzerland.
SAIL said that in the context of its goal of increasing the share of special steel products in its product basket, the agreement envisages development of high strength steel of API X-80 grade for line pipe application by SAIL at its steel plants in Bhilai and Bokaro, India.
Popular for its application in transportation of oil and natural gas, API grades of line pipe steel have a huge market in India with annual demand being estimated to be one million mt in the coming years, with global demand predicted to reach eight million mt.
Earlier, SAIL had initiated and successfully completed collaborative programs with CBMM for development of API X-60 and 70 grade steel plates and HR coils at the Bhilai and Bokaro steel plants, respectively.
Production of API X-80 at SAIL plants is expected to commence within one year.