NEW DELHI, May 19. /TASS/. India wants to invest in mining projects in Russia and is considering purchasing a mine there in some form, Steel Secretary Sandeep Poundrik told TASS ahead of his visit to Russia.
"We want to collaborate both in terms of procurement, that is imports, as well as Indian companies participating and investing in Russia. So, we want Indian companies to go to Russia, invest in mining, in coal mining and other mining projects," he said.
"We are searching for equity in an existing running mine or to buy a mine fully or partially in some percentage, those will be commercial discussions," he said.
According to him, India is interested in investing "in coal, in critical minerals, in other minerals."
"We are not only looking at taking these resources here, but also our companies are looking to invest in Russia. So, that is their long-term supply reliability," he said.
He noted that, in addition to coking coal, India is also interested in other raw materials used in metallurgy.
"For example, nickel, magnesium, which are used in steel making, and they are in Russia. So, in terms of raw materials there is a great potential for cooperation between Russia and India," he said.