India forging coal linkages with Virginia

THE Steel Authority of India has met a delegation from the United States to facilitate the Indian acquisition of coking coal assets in Virginia.
India forging coal linkages with Virginia India forging coal linkages with Virginia India forging coal linkages with Virginia India forging coal linkages with Virginia India forging coal linkages with Virginia

SAIL chairman Mr CS Verma (left) meeting with Governor of Virginia, USA, Robert F. McDonnell at Ispat Bhavan, India.

Lou Caruana

The group, headed by Governor of Virginia Robert F McDonnell, also sought to establish a sustainable supply for the companies in India’s International Coal Ventures Private Limited (ICVL).

The meeting, which took place in New Delhi, aimed to ensure India had raw material security and was able to forge alliances to assist with tapping new markets, its chairman CS Verma said.

The governor was accompanied by Virginia's secretary of commerce and trade James S Cheng and state treasurer Manju S Ganeriwala.

McDonnell gave his support to providing ICVL with requisite geological information and in identifying of coking coal assets and mines.

He also discussed the possibility of facilitating business between ICVL and small and medium mining companies in Virginia by forming joint ventures, as well as encouraging exploring opportunities for greenfield locations.

McDonnell emphasised Virginia's state of the art rail and port infrastructure required to maintain and build a sustainable working relation with ICVL.

Virginia has opened an office in Mumbai to facilitate Indian investment in the state.

Annually, Virginia produces over 24 million tonnes of coal and exported over $US293 million worth of goods and services to India in 2010, marking a 55% increase in the last two years.

Virginia has a considerable Indian industrial and corporate presence as well, McDonnell said.

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