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SAIL plans to take stake in coal mines

Special Correspondent

Pursues renewal of mining leases for Chiria

NEW DELHI: In its bid to ensure speedier implementation of its expansion plans, Steel Authority of India Ltd. (SAIL) is thinking of picking up equity stakes in certain coal mines and enter into joint venture alliances for development and modernisation of those mines.

Addressing shareholders at the annual general meeting here on Friday, the Chairman of the public sector steel major, V. S. Jain, said obtaining new mining leases and renewing old leases had been a major area of concern for the company.

SAIL required about 20 million tonnes of coking coal to produce 22.5 million tonnes of hot metal and in this regard, steps are afoot to support Bharat Coking Coal Ltd. (BCCL) and Coal India Ltd. (CIL) in increasing the output of this feedstock.

This apart, SAIL had plans to develop a large capacity mine at Chiria, the Director (Personnel), S. K. Roongta, said.

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