Tata Steel's Arm TSMC Inks Pact With QNS&L (06-Feb-2012)
Tata Steel Minerals Canada (TSMC), the 80% subsidiary of Tata Steel in Canada has inked pact with Quebec North Shore and Labrador Railway Company (QNS&L), a subsidiary of Iron Ore Company of Canada, by entering into a 'life of mine' rail transportation contract.
As per the contract, the transportation of iron ore be allowed from the direct shipping ore (DSO) project, owned by TSMC, from Emeril Junction, Newfoundland and Labrador, to Arnaud Junction in Sept-Iles, Quebec. For this rail cars will be provided by TSMC while locomotives will be provided by QNS&L, along with certain infrastructure development for which TSMC will provide funding.
Tata Steel Group is amongst the leading steel manufacturers in the world with an annual crude steel capacity of over 28 million tonnes per annum (mtpa). It is now the world's second-most geographically-diversified steel producer, with operations in 26 countries and a commercial presence in over 50 countries.
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