Live
- UNICEF to support Kerala's children with special needs
- Meta purges over 2 million accounts linked to scam centres
- Mumbai, Delhi ranked among top 5 prime residential markets in Asia-Pacific
- Russia provided North Korea with anti-air missiles in exchange for troop deployment
- PCB appoints Azhar Ali as head of youth development
- Deepam-2 Scheme Reaches 5 Million Beneficiaries in Three Weeks, says Nadendla Manohar
- Will RG Kar tragedy impact Bengal bypoll results?
- BGT 2024:25: Josh Hazlewood picks four as Australia bundle out India for 150
- BRS rallies support for Lagacharla ‘victims’
- COP29: Scientists, artists, faith leaders call for greater commitment to delivery of climate finance
SAIL plans to buy more coking coal from Russia to cut costs
Public sector giant Steel Authority of India Ltd (SAIL_ is keen to buy more coking coal from Russia as prices are cheaper than Australia, company chairman Amarendu Prakash said on Monday.
New Delhi: Public sector giant Steel Authority of India Ltd (SAIL) is keen to buy more coking coal from Russia as prices are cheaper than Australia, company chairman Amarendu Prakash said on Monday.
Coking coal is a crucial input in the steel making process and the bulk of the imports are currently sourced from Australia while some shipments also come from the US.
India imports around 70 million tonnes of coking coal every year as domestic coking coal is of poor quality.
However, high prices of imported col are eroding profit margins of steel companies because of which cheaper Russian coal appears to be a good option.
At the same time, SAIL is also reported to be considering through its SPV International Coal Ventures Private Limited (ICVL), to double the capacity of the Benga coal mine in Mozambique.
At present, ICVL has a 2 million tonnes per annum capacity.
