| Date: |
14-03-2012 |
| Subject: |
SAIL sees 50% jump in FY13 coking coal import |
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New Delhi: State-run Steel Authority of India Ltd (SAIL), with an annual capacity of about 14 million tonnes, expects a 50% jump in coking coal imports to 18-19 million tonnes in the next fiscal year starting in April to keep up with the expansion.
“Next year, we will start two new blasts furnaces because of which coking coal imports will go up to 18-19 million tonnes next (2012-13) year,” said chairman C.S. Verma.
He said the company’s capital expenditure will increase 16% to Rs14,500 crore in 2012-13.
The steel sector’s coking coal demand is seen trebling to 90 million tonnes by 2020. The sector imports about 30 million tonnes of coking coal mostly from Australia.
SAIL is the largest steel producer in India, but lags Tata Steel’s global capacity of about 28 million tonnes.
Source : livemint.com
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