ArcelorMittal, SAIL said to be close to signing India steel deal

ArcelorMittal, SAIL said to be close to signing India steel deal

A worker places a stainless steel container in a coil heater inside a manufacturing workshop in the suburb of Mira-Bhayander in Thane, Maharashtra, India, on Tuesday, Jan. 7, 2014. Photographer: Vivek Prakash/Bloomberg

State-run Steel Authority of India Ltd. has finalized terms for a 60 billion rupee ($929 million) plant with ArcelorMittal to cater to the automobile sector, a deal that’s been in the works for more than two years, according to a person familiar with the development.

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