ArcelorMittal, the Luxembourg-based steel giant, has agreed to make concessions to Steel Authority of India Ltd on technology transfer to seal a delayed $897-million joint venture. The companies are close to ironing out key commercial terms to seal the deal, including non-compete and exit clauses as well as finalising the policy on arbitration, a Reuters report said. Talks between the companies had hit a roadblock over revenue-sharing and technology transfer fees.

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