SAIL clarifies on news item regarding acquisition of stake in coal company

With reference to the news item appearing in a leading financial daily titled "SAIL set to buy 30% in Canadian Coal Company", Steel Authority of India Ltd (SAIL) has clarified that the Company has been exploring several opportunities for acquisition of equity stake / ownership interest in coal mines abroad for establishing long term security in supplies of coking coal. The Western Canadian Coal Corporation (WCCC) opportunity is one amongst many under examination. As of date, nothing concrete has emerged either in the WCCC opportunity or in the other opportunities under exploration / examination for their suitability.

Source : Equity Bulls

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