A ‘cooperation agreement’ has been signed by the ministry of international trade of British Columbia (Canada) and Rashtriya Ispat Nigam Limited which operates the Visakhapatnam steel plant.
British Columbia minister for international trade Teresa Wat and RINL chairman and managing director AP Choudhary signed the agreement in the presence of Union minister of steel Beni Prasad Verma and British Columbia premier Christy Clark during Verma’s recent visit to the Canadian province.
The agreement expresses the intent to promote and expand bilateral cooperation in the minerals and mining sector, to explore and encourage investment opportunities, development and exploration of mining related projects and exchange of technological research and innovation.
A ‘Statement of Cooperation’ was also signed by RINL with IC-IMPACTC centre of excellence, University of British Columbia, on technology development and transfer. It envisages network development, research partnerships relating to promotion of steel, water conservation and augmentation.
The Indo-Canadian cooperation had been witnessing a new momentum in line with India’s economic growth in recent years, Teresa Wat said. Secretary in the steel ministry DRS Chaudhary, Indian consul-general at Vancouver Ravi Shankar Aisol and other officials were present at the signing ceremony.
The Indian delegation had a series of meetings with the government of British Columbia and identified a number of opportunities for mutual cooperation. Various possibilities of sourcing coal from British Columbia, equity participation in coal assets, coal asset acquisition & other areas of interest were discussed at the meeting. The delegation also had a series of discussions with the coal asset owners and various avenues for sourcing coking coal to India to meet its ever-growing requirement.