The Globe and Mail reports in its Saturday edition that JSW Steel is looking to pick up a 20-per-cent to 40-per-cent stake in the metallurgical coal unit of Teck Resources, Bloomberg News reported on Friday, citing the Indian steel producer's chairman, Sajjan Jindal. A Reuters dispatch to The Globe says that India's biggest steel producer intends to bid for 20 per cent to 40 per cent of Teck's coal unit, Elk Valley Resources Ltd., Mr. Jindal said. JSW, along with some Japanese and South Korean mills, is planning to buy a share of the asset and a combined offer could value the unit at $8-billion (U.S.), he said. Sourcing metallurgical coal, a key raw material for steel production, is critical for JSW to meet its capacity target of 50 million tonnes per annum (MTPA) for India by the end of this decade. Mr. Jindal had said in the company's annual report for the last fiscal that it would add nine MTPA of new capacity in the next two years, taking its total capacity in India to 37 MTPA by 2024-25. Teck shares closed Friday at $54.40, up 28 cents on the Toronto Stock Exchange.