MECON ltd and SBI Capital Markets (SBICAPS) signed a Memorandum of Understanding (MoU) to establish a strategic alliance for aligning and cooperating with each other in a wide range of strategic business and commercial interest areas. AK Tyagi, CMD, MECON, and VG Kannan, MD & CEO, SBI Capital Markets signed the MoU at Mumbai on Monday.
Under the MoU, MECON and SBICAPS will cooperate in several areas of business, to utilize each other’s strength and domain knowledge for better utilisation of resources. MECON and SBICAPS have already begun working jointly on development of SPV models, leading to setting up the Ultra Mega Steel Plants (UMSP) as guided by the National Steel Policy 2012.