September 08, 2008

SAIL and RINL looking for coal assets in Australia and Indonesia

It is reported that a group of experts form the Steel Authority of India Limited and Rashtriya Ispat Nigam Limited will visit Australia soon to negotiate acquisition of coking coal assets.

AS per report, SAIL, which is in touch with at least 3 coking coal companies in Australia, is focusing on Australia while RINL is also looking at assets in Indonesia.

Mr Ram Vilas Paswan union minister for steel, chemicals and fertilisers is informed about the visit during a meeting to review the functioning of SAIL. He had recently led a high power delegation to Australia earlier this year to explore opportunities to acquire cocking coal assets there.