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Article: India: Coal India, Shipping Corp may form venture to import coal.
- Article from:
- TendersInfo
- Article date:
- October 8, 2009
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State-run Coal India Ltd (CIL), the country s largest coal mining firm, is looking to partner another state-owned company, Shipping Corp. of India Ltd (SCI), to form a joint venture to import coal to control costs as overseas purchases of the fuel are set to surge.
The venture is expected to be on the lines of the company that CIL has planned with Steel Authority of India Ltd (SAIL) for coal imports in which both firms plan to hold a 25% stake, with the remaining held by other strategic partners.
We have held initial talks with the Shipping Corp. and its CMD (chairman and managing director) for a partnership and will make it formal when the time comes , ...