Agency reports said that Tata Steel and SAIL could form a JV for coking coal. Though details are yet to be announced. Indications are that the JV is likely to be based in coal-rich Jharkhand. “They may sign an agreement to form a JV,” a steel ministry official confirmed to ET. However, a SAIL spokesperson declined to respond adding: “It is too premature to make any comment.” A Tata Steel spokesperson also did not comment on the media reports doing the rounds. Both Tata Steel and SAIL realise only too well the importance of ensuring raw material security as they add new capacity.
Source: The Economic Times
1st January, 2008