The Minister of Steel, Beni Prasad Verma has said that a Letter of intent has been signed recently in February, 2013 between Ministry of Steel, Govt. of India and Ministry of Mines and Energy, Federative Republic of Brazil to promote and expand bilateral relations in mineral and steel sector.
Next step is to sign a Memorandum of Understanding (MoU) between the Government of Brazil and Government of India for cooperation in the steel sector.
In a written reply in the Lok Sabha Verma said, the participation of public sector steel companies [Steel Authority of India (SAIL) and Rashtriya Ispat Nigam (RINL) has been so far at pre-contract stage which involves bidding, negotiation etc.
Employment opportunities will be known after a contract is signed and Detailed Project Report (DPR) is prepared.
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