Ukraine crisis: Tata Steel seeks alternative to Russian coal
Tata Steel Ltd is looking at alternative markets for imports of coal as it faces uncertainties with its Russian suppliers and bankers, amid the Russia-Ukraine conflict, a company official said on Saturday.
The geopolitical situation after Russia’s invasion of Ukraine has also opened up steel export opportunities in Europe, following a supply vacuum of 45 million tonne of the metal left by Russia and Ukraine in the continent, Tata Steel Managing Director T V Narendran said.
Tata Steel will look at alternative markets for coal imports to de-risk. There is a lot of uncertainties with Russian suppliers and bankers at present, Narendran said on the sidelines of CII eastern region’s annual meeting here.
