According to recent news in the market,
New Zealand state-owned enterprise Solid Energy has recently signed an agreement with Steel Authority of
India Ltd (
SAIL) to sell around 1.5 million tons of hard
coking coal to the Indian steel producer over next five years. The deal is stated to be around $120 million.
Solid Energy had previously signed a deal with another Indian steel maker Tata Iron and Steel Corp (TISCO) to supply 300'000 tons of coal to the company over three years.
According to the statement released by Solid Energy, the company makes such deals as it sees
India as a long term market. Solid Energy exports coal to
Australia,
China,
Japan and South
Africa.