Steel players hail govt's decision to open coal sector
"This is a huge reform announced by the government on commercial mining in Coal. This change in Act will help the country to reduce its dependence on coal imports and help attract investments from Indian and global corporate," it said. The amendment, ISA said, will remove the end-user restrictions besides allowing seamless transfer of environment and forest clearance in operational mines.
The step taken was a long pending reform which will make the domestic steel industry more competitive on a global level, the association said. JSW Steel Chairman Sajjan Jindal said the move will go a long way in reducing the coal imports.
"Huge reform announced by the government on commercial mining in coal. This will go a long way in reducing the coal imports which is over $15 billion/year," he said.