Coal India’s (CIL) delays in setting up coking-coal washeries inflated the country’s coal imports by $3 billion or over 40% in FY18, steel companies have estimated. The firms have warned that imports of the fuel, which could drive up India’s goods trade and current account deficit, could rise further if adequate number of domestic washeries are not set up in the public and private sectors.
In letters sent to steel and coal ministries, the Indian Steel Association (ISA) has pointed out that if the situation does not improve, import bills would rise exponentially as the country strives to achieve the ambitious steel production target of 300 MTPA by FY31.
The letters, reviewed by FE, said capacities of CIL washeries are grossly under-utilised and become obsolete because they were primarily designed to handle coal with ash content much lower than what is currently mined. Since Read More
Latest posts by Financial Express (see all)
- Rajdhani, Shatabdi passengers to enjoy jerk-free riding experience - June 26, 2019
- Indian Railways may rope in private sector for trains on Delhi-Lucknow, Mumbai-Shirdi routes! Details here - June 26, 2019
- Indian Railways free high-speed WiFi at stations a hit! Over 2 crore users log in to the internet service - June 26, 2019