The Union Cabinet chaired by the Prime Minister Shri Narendra Modi has approved the Memorandum of Understanding (MoU) between the Ministry of Steel of the Republic of India and the Ministry of Energy of the Russian Federation on cooperation regarding coking Coal, which is used for Steel making.
Benefits:
The MoU shall benefit the entire steel sector by reducing their input cost. This may lead to reduction in cost of steel in the country and promote equity and inclusiveness.
The MoU will provide an institutional mechanism for co-operation in the coking coal sector between India and Russia.
The objectives of the MoU is to strengthen cooperation between Govt. of India and Govt of Russia in the steel sector. The activities involved in the cooperation are aimed at diversifying source of coking coal.
You may also like
-
Indian HealthTech Startup EkaCare Selected to Build Multilingual AI Medical Documentation System for NHA
-
Ashoka Buildcon Secures $58.9 Million Contract to Develop 120 MW Solar Power Plant in Bhutan
-
Tata Power to Begin Construction of 10 GW Solar Ingot and Wafer Manufacturing Plant in Odisha
-
Cabinet Extends MUDRA Credit Guarantee Scheme Until 2031 with ₹5,000 Crore Corpus
-
Philippines Seeks Customised BrahMos Missile Systems as India Negotiates Potential $800 Million Defence Deal
