SAIL, Tata Steel, JSW Steel, JSPL and RINL has signed MoU with the Ministry of Steel to set up Steel Research and Technology Mission of India (SRTMI). The initial corpus for setting up of SRTMI is of Rs. 200 crore wherein Rs. 100 crore will be contributed from the Steel Development Fund of the Ministry, and Rs. 100 crore will be provided by the participating companies. SRTMI will carry out R&D in priority areas of national importance covering best usage of available raw materials and conservation of natural resources, optimum energy conservation & minimum emissions, innovations and in-house development of design, engineering and manufacturing facilities of key steel plant equipments.
Extracted from ET, Apr 06,’15