Cabinet approves MoU between India and Russia for cooperation in coking coal
The MoU will provide an institutional mechanism for cooperation in the coking coal sector between India and Russia.
- Country:
- India
The Union Cabinet chaired by Prime Minister Shri Narendra Modi has approved the Memorandum of Understanding (MoU) between the Ministry of Steel of the Republic of India and the Ministry of Energy of the Russian Federation on cooperation regarding Coking Coal, which is used for Steelmaking.
Benefits:
The MoU shall benefit the entire steel sector by reducing its input cost. This may lead to a reduction in the cost of steel in the country and promote equity and inclusiveness.
The MoU will provide an institutional mechanism for cooperation in the coking coal sector between India and Russia.
The objective of the MoU is to strengthen cooperation between Govt. of India and Govt Russia in the steel sector. The activities involved in the cooperation are aimed at diversifying sources of coking coal.
(With Inputs from PIB)
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