TISCO looks for coal mines abroad
Indian steel producer Tata Iron and Steel Corp (TISCO) is reportedly looking for coal mines in
Australia and
New Zealand.
As previously reported by SteelOrbis, TISCO announced its capacity expansion plans. In order to increase its capacity to the targeted 15 million tons by 2010, the company will need more coal. As the current captive resources of the company will not be sufficient to meet the coal requirement, TISCO is looking for coal mines abroad.
TISCO formed a joint venture with West Bengal Industrial Development Corporation to build a coke oven plant in Haldia with an annual capacity of 800'000 tons of coke.
Moreover, TISCO is conducting a project that will increase the capacity at Jamshedpur to 5 million tons. The company also signed a memorandum of understanding with the Orissa government to establish a 6 million-ton steel plant at Kalinganagar, Orissa.