New Delhi: Coal Minister Sriprakash Jaiswal on Monday said India would require over 85.34 million tonnes of coking coal in 2011-12 to meet the needs of the steel sector.
“Coking coal requirement in the (domestic) steel production is expected to touch over 85.34 million tonnes in 2011-12,” Jaiswal said at a steel conference organised in New Delhi by industry chamber ICC.
He added, “Most of the coking coal requirement is expected to be met through imports”. In the current fiscal, 2010-11, the domestic steel sector is estimated to use up about 75 MTPA coking coal.
Jaiswal said that industrial growth witnessed by the country has pushed up the demand for coal, and power sector alone is expected to witness a compounded growth of around 10% in the next financial year.
The government has decided to set up an inter-ministerial task force to undertake a comprehensive review of the existing coal sources and rationalise these sources to optimise transportation costs, he added.
Jaiswal, however, did not elaborate upon the time line given to the task force to submit its report.