On January 15, India's state-owned steel colossus Steel Authority of India Limited (SAIL) signed a memorandum of understanding with IRCON International Limited, a public sector undertaking under India's Ministry of Railways, with regard to joint collaboration on rail infrastructure projects both in India and abroad.
IRCON has expertise in development of surface transportation infrastructure, while SAIL is a major Indian producer and supplier of railway materials. Both IRCON and SAIL seek to execute projects of Indian Railways, as well as participating in rail infrastructure projects in developing countries where presently there is no infrastructure for evacuation of raw materials.
Speaking on the occasion, IRCON managing director Mohan Tiwari said that IRCON has already identified a number of projects in which SAIL and IRCON can participate jointly.