Steel Authority of India (SAIL) led group is reportedly planning to acquire coal assets in Poland in the next few months. SAIL-led International Coal Ventures (ICVL), whose five participating firms are all state-owned or state-controlled, has been scouting for mines since 2009.
Most steel producers in India, the world’s third-largest coal importer, depend on overseas coal shipments and are trying to buy mines in Africa and Europe.
SAIL is India's largest steel producing company. With a turnover of Rs 49,350 crore, the company is among the five Maharatnas of the country's Central Public Sector Enterprises. SAIL has five integrated steel plants, three special plants, and one subsidiary in different parts of the country.
