Steel Authority of India Ltd (SAIL) said it will invest US$150-200 million in its Benga coal block assets in Mozambique with its joint venture partner International Coal Ventures Ltd (ICVL).

Amarendu Prakash, chairman of SAIL, said the project is already under preparation. Upon completion, the project will increase the mine's production capacity to 4 million tons per year and reduce the risk of imported coking coal.

SAIL has purchased around eight coking coal shipments of 75,000 tons from Russia in the first two quarters of the fiscal year 2023-24. The purchasing amounts from Russia were expected to continue in the same proportion for the remaining two quarters of the fiscal year.