Steel Authority of India (SAIL) has signed a memorandum of understanding with BCCL for the joint development and operation of two coking coal blocks in West Bengal. The agreement covers SAIL’s Indikatta Ramnagore block and BCCL’s East of Damagoria, also known as Kalyaneshwari, block.

The arrangement is intended to support the development of domestic sources of coking coal, a key raw material used in steel production. Joint development and operation of the blocks will enable the companies to work towards increasing the availability of locally sourced coal for industrial use.

SAIL is an integrated iron and steel producer with operations serving the domestic construction, engineering, power, railway, automotive and defence industries, as well as export markets. The company produces both basic and special steels across its operations.

SAIL reported a 120.8 per cent year-on-year increase in standalone net profit to Rs. 16.44 bn in the first quarter of FY27. Revenue from operations rose 1.25 per cent year on year to Rs. 262.46 bn in the quarter ended 30 June 2026.

The company’s shares rose 0.43 per cent to close at Rs. 184.80 on the BSE. The coal block agreement comes as SAIL continues to focus on strengthening raw material security and supporting its integrated steel-making operations through domestic resource development.