Steel Authority of India Ltd. (SAIL) has signed a memorandum of understanding related to coal block development, putting the steelmaker among the companies in focus on Monday. The development is part of efforts linked to securing and developing raw-material resources for the steel business.
The company’s raw-material strategy remains relevant because coal and other inputs form a significant part of steel production costs. The latest agreement adds to SAIL’s efforts to strengthen resource availability for its operations.
