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SAIL Sees 50% Jump in FY13 Coking Coal Import

  • The company is planning to start two new blast furnances next year because of which coking coal imports will go up to 18-19 million tonnes, SAIL chairman C.S. Verma said

  • 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.

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