New Delhi: Steel Authority of India Ltd
(SAIL) on Wednesday said that it will import about 11 million tonnes of
coking coal this fiscal, lower than the imports in 2008-09 due
to the recession and the subsequent fall in demand.
"SAIL plans to import 10-11 million tonnes of coking coal
this fiscal. Imports may bounce back to 13 million tonnes of
coal next fiscal as we are witnessing a recovery in demand.
Every month is better than the past month," a SAIL official
said here on the sidelines of the coal summit.
The official further added that this year imports are low
because of the recession and fall in demand. Imports for last
fiscal stood at 13 million tonnes.
"We have long term contracts with coking coal producers
including BHP Billiton" the official added.
He said that over 70 percent imports are from Australia
and about 30 per cent from US.
"Annually we need 15 million tonnes of coking coal,"
official added.
Bureau Report
First Published: Wednesday, October 07, 2009, 11:29