Bhubanewar: Chandra Sekhar Verma, Chairman, Steel Authority of India (SAIL)on Saturday said the talks for setting up a steel mill in joint venture with South Korean steel major Posco would come soon.

After meeting Chief Minister Naveen Patnaik, Verma said that the modernisation and expansion plan of the Rourkela Steel Plant (RSP) is in a final stage.

Verma said that after completion of the expansion and mdernisation programme, the production capacity of the plant would be doubled to 5 mtpa. The country’s largest ever blast furnace would be operational by July next year at the RSP, Verma added.

He said that with the completion of the modernisation and expansion plan an additional 18,000 job potential would be created in the RSP.

Adding more Verma said, the Public Sector Undertakings (PSUs) in steel and other mineral sectors should get preference in the matter of raw materials as they have social obligations besides commercial objectives.