SAIL plans to acquire 25% stake in a coal mine
Indian steel producer Steel Authority of
India Ltd (
SAIL) is planning to acquire 25% stake in an Australian coal mine to secure
coking coal supply with the purpose of increasing its capacity to 20 million tons.
SAIL is reportedly planning to acquire 25% stake in Tahmoor Coal, a subsidiary of Sydney-based coal mining company Austral Coal.
SAIL imports 9 million tons of
coking coal each year.