MONGOLIAN MINISTRY TO COOPERATE WITH INDIAN STEEL GIANT

Ulaanbaatar, Mongolia /MONTSAME/ The government of Mongolia on Friday signed an initial agreement with State-run Steel Authority of India Ltd. (500113.BY) to explore the possibilities for setting up a steel plant and mining iron ore and coking coal here.


Mongolia's Ministry of Mineral resources and energy will provide information on iron-ore and coal deposits to the company and will offer options of locations and size for the steel-making facility.

The cooperation memorandum has been inked by B.Batkhuu, a head of the Mining and heavy industry's policy department of the Ministry, and by Rakesh Kulshreshtha, an executive director of Steel industry.

Visiting Indian representatives, led by Chandra Shekhar Verma, a president of Steel industry, have told Ts.Garamjav, a Deputy Minister of the Ministry of Mineral resources and energy, that they want to cooperate more in this sphere.

At the signing ceremony were representatives of Presidential office, Foreign affairs, Embassy of India to Mongolia, specialists from Mongolian metallurgical association and press.

B.Oyundelger