State-owned BHEL on Friday said it is in talks with SAIL and Vizag Steel to tie up for manufacturing high grade steel, while Korean steel maker Posco may join the proposed joint venture company as a technology partner.
Imported components account for up to 30% of the firm's total production cost.
Industry demands the basic customs duty on all steel imports to be raised to 25%
Tax incentives to have cascading effect on the capital goods industry.
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