Ishita Ayan Dutt / Kolkata July 30, 2008, 0:09 IST
Essar Steel may bid for US-based United Coal Company, joining seven other bidders, including rival JSW Steel, sources close to the development said. However, JSW Steel, India's third largest steel-maker, expects to finalise the deal by August.
BLACK GOLD
# Essar Steel is examining a possible bid and a final decision will emerge soon
# Bidders are scrambling for captive raw material resources because of the soaring prices of coal