Commodity Online
ROURKELA: Union steel minister Ram Vilas Paswan on Friday said, the steel ministry has been looking for joint venture partners for tapping coking coal mines both India and abroad.

Speaking to newsmen here Paswan said, the steel ministry has been looking for joint venture partners for tapping coking coal mines in order to overcome growing demand of quality coking coal, a vital input in the steel making.

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The minister said, “Demand for coking coal has been fast growing across the country for hiking production of steel, but we don’t have adequate stock of the same in India. Hence, we’re in the lookout for JV partners to tap coal assets abroad”.

The ministry has already floated a Special Purpose Vehicle comprising five elite Public Sector Undertakings such as NTPC, Coal India Ltd, SAIL, RINL and National Mineral Development Corporation (NMDC) to scout for coal mines abroad and the SPV received special sanction of the union cabinet to begin operation.

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