19 Jan, 2011, 05.17PM IST,PTI
KOLKATA: The S&T Mining Company, a 50:50 joint venture between Tata Steel and Steel Authority of India , is set to get coal blocks soon.
''The JV with SAIL on coal assets is well on track and the company is expected to get coal blocks shortly in eastern region,'' Tata Steel chief financial officer Kaushik Chatterjee told PTI.
In 2008, both the companies formed a JV to acquire and develop coal mines in India.
Tata Steel is striving hard for raw material security both in India and abroad for its European operation.
In India, the company has around 50 per cent of its captive coking coal requirement and 100 per cent that of iron-ore.
sourced:Economic Times
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