Tuesday, July 05,
International Coal Ventures Pvt. Ltd (ICVL), which consist of Steel Authority of India Ltd. NMDC Ltd., NTPC Ltd. is seeking to acquire overseas thermal and cooking coal mines to meet the growing fuel requirements of India’s power and steel sector.
ICVL is seeking to buy coal mines in Columbia because there is a huge potential for getting coking coal from Columbia. There are 4,000-4,500 small mines operating in Columbia and ICVL. is seeking to acquire overseas thermal and coking coal mines to meet their growing fuel requirement of India’s power and steel sectors. India already import coking coal from U.S additionally they are looking to import coal from Columbia also to meet their future requirement.
Indian Steel companies import around 30 million metric tons of coal annually. Currently India is a third largest coal importer but it is likely to triple its annual imports in the next five years and then it will become the world’s biggest importer of the commodity.
Reported by: Neha Soni(neha.soni@steelmint.com)
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