Steel Authority of India is in talks to acquire coking coal blocks in Australia, New Zealand, Mozambique and Indonesia to achieve its production targets, according to Chairman, Mr S.K. Roongta.
Speaking on the sidelines of “Global Steel 2020”, the Fifth International Conference on Steel and Steelmaking Raw Materials, he said “We are not looking at iron ore blocks but at coking coal blocks. We could acquire these blocks either on our own or through International Coal Ventures Pvt Ltd.”
SAIL’s aim is to secure around 40 per cent of its coking coal requirements through these acquisitions.
SAIL's steel production is expected to increase from 14 mtpa last year to 56 mtpa in 2020.
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