State-run Steel Authority of India Ltd SAIL is in talks to set up a 3 million-ton steel plant in Mongolia with an investment of at least USD300 million. “Besides the bid for Tavan Tolgoi, we are also simultaneously interacting with the Mongolian government and have offered to set up a 3-million ton steel plant as a separate project,” said its chairman. “The government will have to provide land, iron and coking coal for the plant and we will make the overall investment.”