Tuesday, February 08,
Supply crunch of imported coal from Australia, the top supplier of coal is making Indian companies to look for other options in order to cater their growing needs.
ICVL (India’s State-run International Coal Ventures Ltd) consortium has submitted a bid for buying coal mine in Mongolia in order to meet the rising demand of coal which is the major input raw material used in steelmaking. The state consortium comprises of utility NTPC, Steel authority of India (SAIL), iron ore miner NMDC, Coal India and Rashtriya Ispat Nigam Ltd. Indian coal, power and steel companies exploring its business in overseas and acquiring coal assets to reach the demand of the Asia’s third largest growing economy.
Source: Reuters
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