Coking coal deal from Solid Energy and SAIL

Coking coal deal from Solid Energy and SAIL

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.