Uzbekistan is keen to import steel from India, a strategic move aimed at significantly lowering logistics costs for the landlocked Central Asian nation, an industry official said on Tuesday.
The landlocked country imports around 1 million tonnes of steel, including TMT bars, from China, the official said. The logistics cost from China to Uzbekistan via sea route is as high as USD 100 per tonne, in addition to the actual steel cost.
The country is keen to import steel from India via a shorter, alternative route. It would lower its logistics cost, the industry member said, adding that the Uzbekistan Metallurgy Association has also signed a Memorandum of Understanding with the Indian Steel Association (ISA) in this regard.
“Both associations will work towards manufacturing, technology, environment, sustainable growth, logistics etc and to facilitate interaction for the purpose of advancing mutual understanding among the steel industries of India and Uzbekistan,” he added.
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