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Pradhan seeks concessions on coking coal imports

Far East Russian representatives' visit

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Far East Russian representatives’ visit

 

PIB.
Pradhan seeks concession on coking coal imports from Far East Russia.

Steel Minister Dharmendra Pradhan has suggested Far East Russia Investment and Export Agency to indicate specific concessions that can be made to Indian importers of coking coal.

He also called on the visiting agency representatives to offer port facilities at preferential terms for Indian companies, saying he was confident that Indian steel industry will make significant increase in import of coking coal from Far East Russia.

India currently imports more than 50 MTPA coking coal, Steel Ministry said on 26 Nov 2019 during the Minister’s meeting with the agency representatives in Delhi.

The Indian steel companies have started testing samples of coking coal from the Far East Russia in their plants.

In view of huge opportunity offered by the Far East Russia to attract Indian investments, the Indian Government had earlier extended a US$1 billion line of credit to Russia.

This line of credit can be used for furthering economic linkages with Far East Russia, including development of evacuation infrastructure and logistics in the Far East Russia.

The Indian-Russian officials discussed further developing economic linkages with Far East Russia, particularly through sourcing of metallurgical or coking coal, development of infrastructure of Far East Russia ports.

They also discussed connectivity of these ports with Russian mining locations, and improvements in evacuation infrastructure. fiinews.com

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