India can meet 50% of Russia’s coking coal needs: JSPL MD
India can meet its needs for 50% coking coal from imports from Russia, a top industry executive said.
On Wednesday, the Union cabinet chaired by Prime Minister Narendra Modi approved a pact between India and Russia on cooperation on coking coal.
At present, for the supply of the key steel raw material, national players remain dependent on imports from a small group of countries.
VR Sharma, Managing Director of Jindal Steel and Power Ltd (JSPL), said that “the government has taken a far-reaching decision to encourage Russian miners to supply coking coal to Indian steel mills. India can import at least 50 percent of coking coal from Russia and the balance from other countries.
“This will make the blending of coking coal profitable for the manufacture of metallurgical coke.”
About 85 percent of India’s demand for coking coal is met by imports. Cooperation with Russia will help India reduce its dependence on distant countries like Australia, South Africa, Canada and the United States for the supply of coking coal.
It will also reduce the cost per tonne of steel production, as Russia is geographically closer to these countries.
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