Financial Daily from THE HINDU group of publications
Sunday, Dec 14, 2003
Financial Daily from THE HINDU group of publications Sunday, Dec 14, 2003 |
|
|
|
|
|
Home Page
-
Coal Corporate - Alliances & Joint Ventures SAIL mulls jt venture with BHP group for coal mining Ambarish Mukherjee
New Delhi , Dec. 13 STEEL Authority of India Ltd (SAIL) is contemplating the setting up of a joint venture company with the Australian mining major, the BHP group, for undertaking coal mining in Australia. Though company officials are extremely tight-lipped about the whole exercise, sources reveal that SAIL is planning equity investment in an Australian mine to ensure guaranteed supply of coking coal on a long-term basis. The move is also expected to take care of any big time price fluctuations in the international coal prices, as SAIL is heavily dependent on coking coal imports, sources said. The joint venture is likely to happen with any of the BHP group companies. Currently, SAIL imports around seven to eight million tonnes of coking coal annually. SAIL and BHP have a longstanding association. BHP's initial involvement with SAIL was for technical and training agreements. The relationship broadened considerably through the 1980s and 1990s, when BHP Billiton began exporting increasing tonnages of metallurgical coal to India. BHP also has arrangements with several Indian iron ore producers for importing ore.
Article E-Mail :: Comment :: Syndication
|
Stories in this Section |
|
The Hindu Group: Home | About Us | Copyright | Archives | Contacts | Subscription Group Sites: The Hindu | Business Line | The Sportstar | Frontline | The Hindu eBooks | Home |
Copyright © 2003, The
Hindu Business Line. Republication or redissemination of the contents of
this screen are expressly prohibited without the written consent of
The Hindu Business Line
|