India's state-run steelmaker Steel Authority of India Ltd (SAIL) expects a 50 percent growth in its coking coal imports in the next financial year to start in April, according to media reports.
SAIL, with an annual steel output capacity of 14 million mt, is planning to increase its coking coal imports to 18-19 million mt as the company starts two new blast furnaces at the beginning of the new financial year, chairman C.S. Verma said.
Additionally, the company's capital expenditure is forecast to increase 16 percent year on year to INR 145 billion ($2.89 billion) in the financial year 2012-13.