Mechel, Somani Start India Coal Supply Venture, Press Trust Says

Bloomberg reported that a new joint venture has been signed between Somali Group and OAO Mechel (MCX:MTLR) to supply coal to India.

The market news is quoted as saying:

The venture, Mechel (MTL) Somani Carbon, will stockpile coal on India’s eastern coast and supply it to customers unable to afford the cost of their own imports.

To read the full market news, click here.