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LOK SABHA
Steel Authority of India Ltd.(SAIL) has plans to acquire equity stakes in overseas mines and is currently exploring the possibilities of forging strategic alliances with overseas coal mining companies. No equity has been taken in any overseas mine as yet.
Availability of good quality coal is an important requirement for both quality of hot metal and productivity of Blast Furnaces. Due to inadequate availability of high grade low ash cooking coal from domestic sources, SAIL is largely dependent on meeting its requirements of cooking coal through imports. Acquiring equity stakes in overseas cooking coal mines would help in ensuring security of supplies for SAIL for this critical raw material.
This information was given by the Minister of Chemicals & Fertilisers and Steel, Shri Ram Vilas Paswan in written reply to a question in Lok Sabha today.
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