india to import 85 million tonsAccording to Indian coal minister Mr Sriprakash Jaiswal, India's coking coal requirements could increase by nearly 22% to 85.34 million tonnes in the next fiscal
Mr Jaiswal said that “Coking coal requirement for steel production is expected to be 85.34 million tonnes in 2011-12, as steel production is dependent on coking coal.”
Mr Jaiswal added that “Coal demand from the domestic cement industry also looks bright and it is expected that coal need would rise steadily during 2011-12.”
The domestic steel industry is expected to use about 70 million tonnes of coking coal in the current financial year ending Mar 31. The country is likely to produce about 65 million tonnes of steel in the current financial year. India meets about 70% if its coking coal needs through imports from countries including Australia, Indonesia and the US. The Minister said that thermal coal requirements for power utilities, too, would grow at 10% during the next financial year.
(Sourced from Hindu)