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Poland crushes steel firms’ mine dreams

Calcutta, Dec. 17: Indian steel majors that are eyeing Polish coal mines are out of luck as Poland will not privatise its mines before 2015.

Commerce minister Kamal Nath had earlier said Indo-Poland trade should reach a few billion dollars in a few years.

“Poland could be India’s gateway to the European Union. We are interested in collaboration in food processing. However, though iron and steel companies, including ArcelorMittal, are interested in coal deposits, the government will not release the mines before 2015,” said Krzysztof Majka, the ambassador of Poland, at an interactive session at the Merchants’ Chamber of Commerce today.

ArcelorMittal has invested around $4 billion and is the leader in steel production in Poland, while SAIL is scouting for mines.

Majka said there was a discrepancy in the circulated trade figures between the two countries. He was also set to meet state government officials and the state minister of food processing at Writers’ Buildings.

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