Page 48 - Construction_Opportunities_September_2024

INTERNATIONAL TICKER TAPE

SAIL AIMS TO DOUBLE CAPACITY AT MOZAMBIQUE COAL Steel Association’s annual conclave. “The expansion should be
MINES completed within three to four years.”
PSU steel major SAIL (Steel Authority of India Ltd) is set to more The tender specifies that the mine operator will be responsible for
than double the capacity at its Benga coking coal mines in extracting 375,000 tonnes of coal per month, which equates to
Mozambique, aiming to increase production to 4.5 million tonnes an annual output of around 4.5 million tonnes. Additional tasks will
per annum (mtpa). include topsoil removal and coal loading.
This move is part of SAIL’s broader strategy to enhance coking coal SAIL is also seeking shareholder approval at its Annual General
supplies, a key raw material in steelmaking, and reduce exposure Meeting (AGM) for a long-term supply agreement with Minas de
to price fluctuations in the global market. Benga Limitada (MBL), a joint venture company in Mozambique
The planned investment in the expansion is estimated at $150-200 that produces coking coal. The deal is expected to be worth up
million over the next three to four years, according to sources. SAIL to `6,000 crore by FY26, ensuring a steady supply of high-quality
has traditionally relied on imported coking coal from countries coking coal for SAIL’s steel manufacturing operations.
such as Russia, in addition to domestic supplies from Coal India. In addition to Benga, ICVL has two other coal mines in
International Coal Ventures Ltd (ICVL), the joint venture that Mozambique—Zambeze and Tete East—though these remain in
oversees the Mozambique mines, has already floated global the development phase.
tenders to bring in mine development operators. ICVL is owned SAIL’s move comes as the company faces rising costs for imported
by a consortium of Indian PSUs, with SAIL holding a 47% stake. coking coal, with average prices reaching `24,500 per tonne
In FY24, Benga produced around 1.24 million tonnes, as reported in the April-June quarter, compared to `13,500 per tonne for
by NMDC, another PSU involved in the venture. The mine’s current domestic coal.
capacity is 2 mtpa, but the proposed expansion is expected to Looking ahead, SAIL also expressed interest in participating in
boost production significantly over the next few years, with most India’s Critical Mineral Mission, which aims to secure supply chains
of the output earmarked for SAIL’s internal use. for essential minerals like lithium, cobalt, and copper. While SAIL’s
“We are looking to double production at Benga as part of our focus has traditionally been on minerals used in steelmaking,
strategy to secure coking coal resources,” said Amarendu Prakash, Prakash indicated that the company may explore opportunities
Chairman of SAIL and ICVL board member, during the Indian as the mission’s scope expands.

GE T&D INDIA LTD WINS `55 MILLION ORDER million, is set to be executed over a period of five years. This
GE T&D India Limited has been awarded a significant contract deal underscores GE T&D India’s strong position in the high
by GRID SOLUTIONS Middle East FZE, Dubai, for the supply and voltage sector and expands its footprint in the Middle East
supervision of high voltage products. The order, valued at `55 market.

ION EXCHANGE SECURES `168 CRORE ORDER leader in water treatment, provides a comprehensive range of
Ion Exchange secured a `168 crore order from Italy-based solutions for industries, homes, and communities. The company
Technimont SpA, the contract is for the Hail & Ghasha offers technologies and services for water and wastewater
Development Project of the Abu Dhabi National Oil Company treatment, including water process systems, filtration,
(ADNOC) in the UAE. The project is expected to be completed disinfection, membrane technologies, and ion exchange resins.
within 61 weeks from the award date, according to the It is one of the few companies worldwide with a full spectrum of
company’s filing with the exchange. Ion Exchange (India) Ltd, a water and wastewater treatment technologies.

48 CONSTRUCTION OPPORTUNITIES|SEPTEMBER 2024