VSP likely to form jv with Anglo Coal

VSP likely to form jv with Anglo Coal

Indian steel producer Visakhapatnam Steel Plant (VSP) is reportedly planning to form joint venture with Australian firm Anglo Coal to meet its coking coal requirement. In order to discuss the subject, VSP officials plan to visit Australia. The details of the plan have not been released yet. As previously reported by SteelOrbis, many Indian steel producers suffer from shortage of coking coal. Steel Authority of India Ltd (SAIL) has signed a deal with the Australian mining giant BHP Billiton to ensure stable source of coking coal. Apart from the planned coking coal joint venture, VSP has also invested Rupees 10 billion ($221.4 million) in coal and iron ore mining. Moreover, VSP plans to increase its current capacity from 3.5 million tons to 5 million tons by 2008.