Amid the ongoing Russia-Ukraine conflict, Tata Steel Limited is looking at alternative markets for coal imports as uncertainty prevails with its Russian suppliers and bankers.
Tata Steel's MD T V Narendran said on the sidelines of an industry event in Kolkata on Saturday, that 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 tonnes for the metal left by Russia and Ukraine in the continent.
Therefore he informed that Tata Steel will look at alternative markets for coal imports to de-risk. "There are a lot of uncertainties with Russian suppliers and bankers at present,” Mr. Narendran said.
Tata Steel used to buy 10-15 percent of its coal requirements from Russia for use in pulverized coal injection, he said.
Pulverized coal injection (PCI) is a process that involves injecting large volumes of fine coal particles into a blast furnace.