JSW Steel in talks for coal assets JV

JSW Steel today said it is in discussions with several domestic steel producers, including state-run SAIL and RINL, for floating a joint venture for acquiring overseas coking coal properties.

The company is in talks with Steel Authority of India Ltd (SAIL), Rashtriya Ispat Nigam (RINL) and Jindal Steel & Power Ltd (JSPL) to form the joint venture, JSW Steel Vice-Chairman & MD Sajjan Jindal said.

"We are discussing together to bid for the good quality coking coal overseas. Yes, this will be a JV company," Jindal told reporters here.

"We are looking at Australia as it has large reserves," he added.