February 6, 2002

'18'

    A joint protocol was singed today between Ministry of Steel, Govt. of India & Russia delegation after two-day discussions between the two countries on bilateral relation in the field of ferrous & non-ferrous Metallurgy. The protocol was singed By MR. S.G. Mitin, Deputy Minister, Ministry of Industry, Science & Technologies of Russian Federation, Head of the Indo-Russian Working Group on Ferrous & Non-Ferrous Metallurgy and Shri N.N. Khanna, Secretary, Steel. Govt.of India, the leader of the Indian delegation.

    During the discussion the Russian side confirmed that TYAZHPROMEXPORT (TPE), Moscow was prepared to take up responsibility on turnkey basis for construction of the Romelt Plant at Nagarnar (Chhatisgarh), jointly with MISA, designer and owner of Romelt Process and RSIL, the Romelt Process sub-licence seller in India.

    The Russian side gave positive indications regarding the participation of TPE in the revival & modernization of Indian Iron and Steel Company Ltd (IISCO), West Bengal. It is expected that a final decision on the vital area of co-operation would be reached shortly. In the field of Research and Development several technologies have been identified, on which the two sides are willing to co-operate. The Working Group is an indicator of the close ties of the two countries in the field of metallurgy and pointer to appreciation of each other’s points of view.

    The Russian delegation comprises of senior officials of Government and CEO’s of Public Sector Enterprises of Russia. During the Eighth Session of the Working Group, the delegation had discussion with the Ministry of Steel, Ministry of Mines and leading Public Sector Undertakings in the Ferrous & Non-Ferrous Metallurgy sectors. The Working Group reviewed the progress of the decisions taken during the last sessions of the Working Group and identified new areas of co-operation.