With the strengthening of Indo-Russian strategic and economic ties on the cards, Tyazhpromexport, a Russia government owned steel plant commissioning and erection major, now has decided to look for mining prospects in the eastern region of the country.

According to Mr Vladimir T Derkatch TPE’s head in Durgapur “TPE will take part in the mechanisation of Chasnala mine of IISCO located in Jharkhand. Our experts had inspected the mine three months ago and had prepared a technical survey report and design of the future mining prospect at Chasnala. The mine has got a hefty reserve of coking coal and has got immense potential for mechanised mining. The coal seam is thick and very stiff there so mechanised mining is the lone solution left there.”

Mr Derkatch said that “With the resurgence is bilateral trade, we expect the complexities in tendering process would also be sorted out in different steel plants and coalmines.”

Mr Vladimir Putin PM of Russia brief trip to New Delhi and the promise to triple the bilateral trade to USD 20 billion by 2015 has brought new hope for Russian companies operating in Durgapur as well as Russian individuals manoeuvring foreign trade from this industrial hub.

Tyazhpromexport has a long standing legacy with the eastern region’s steel industry. The company’s Blast Furnace; Steel Melting Shop & Sinter Plant for the SAIL’s Durgapur Steel Plant and has been lending technical assistance to the DSP. A group of TPE experts have been camping in the town since the 1990s for the purpose. The credit of setting up the Bhilai Steel Plant, established 60 years ago, also goes to the same. The company was a prospective bidder of the INR 10,000 crore IISCO Steel Plant modernisation which did not yield any result because of the rupee-rouble conversion crisis that sustained till 2004.

(Sourced from Thestatesman.net)