LOK SABHA
The Steel Ministry
has recently signed a Memorandum of Understanding (MoU) with its
Chinese counterpart for import of metallurgical coke. According
to this agreement only 7 Chinese companies are authorized to export
coke of Chinese origin to India. The China Chamber of Commerce
of Metals, Minerals and Chemicals Importers and Exporters (CCCMC)
undertakes that the 7 companies, which are its members, shall
be agreeable to sign long term agreement of supply/purchase with
Indian buyers at competitive market prices. Long term arrangements
shall be established to avoid market risk and to remove uncertainties
in supply.
Responsibility of
fulfilling the contract/agreement will be incumbent upon the Chinese
and Indian companies with whom the contract is signed. The Ministry
and the CCCMC shall supervise implementation of the agreement/contract
signed between the Chinese supplier and Indian buyers and shall
help to settle disputes between the two sides till a satisfactory
solution is accepted by all. Both the countries will hold timely
meetings to develop potential cooperative progrmmes.
This information
was given by the Minister for Steel Shri Braja Kishore Tripathy
in a written reply in the Lok Sabha today.
