Indian steel firms should invest in Russian coal cos to bring down coal price: FEIEA official

New Delhi, Nov 27 () Indian companies should purchase stake in Russian coal companies operating in its far east region in order to bring down the coal price and improve their port capacity to handle large ships, said a senior official of Far East Investment and Export Agency (FEIEA) on Tuesday.

Currently, Indian steel and energy companies such as Steel Authority of India Limited (SAIL), Tata Steel, JSW, Adani Group, and Jindal Steel and Power Limited (JSPL) have shown interest in importing total nine million tonnes of coal annually from the Russian firms operating in the far east region.

However, Indian companies have raised issues related to high price of coal, lack of port capacity to handle big ships, etc.