The government on wednesday said that Steel Authority of India Limited, SAIL and South Korean steel major POSCO are expected to sign their joint venture agreement on November 8th.

Informing this to reporters in New Delhi, Steel Minister Beni Prasad Verma said, he will be visiting South Korea and Russia.

Mr. Verma who reviewd the performance of Rashtriya Ispat Nigam Limited, RINL, said it registered an increase of five percent to reach over 220 crore rupees profit in the first half of this fiscal.

The Minister appreciated the progress made by RINL in commissioning of expansion units and lauded the efforts made by the company in areas of Corporate Social Responsibility.