Steel Authority of India (SAIL) today said it will import about 11 million tonnes (mt) of coking coal this fiscal, lower than the imports in 2008-09 due to the recession and the subsequent fall in demand.

"SAIL plans to import 10-11 mt of coking coal this fiscal. Imports may bounce back to 13 mt of coal next fiscal as we are witnessing a recovery in demand. Every month is better than the past month," a SAIL official said here on the sidelines of the coal summit.     

BSE  |  NSE Price

Click here for Cloud Computing

Also Read   Related Stories News Now - Govt to split Chiria mines, SAIL gets half - BSP reels under water crisis - Outflows recede from reservoirs - SAIL's iron ore demand in Chiria excessive: J'khand Govt - Toyota to strengthen dealership network by 65% by 2010 - 'Our focus on smaller towns is paying off'

Also Read   Related Stories News Now - Wall Street opens flat as data offsets Moody's warning - Thomas Cook India Q4 net jumps three times - Govt plans to make 30% sourcing from MSEs mandatory - Explain ways to cover govt loss on 3G roaming: TDSAT to telcos - Magma Fincorp plans to start gold finance biz in H1 of FY13 More

"We have long term contracts with coking coal producers including BHP Billiton" the official added.

He said that over 70 per cent imports are from Australia and about 30 per cent from US.     

"Annually we need 15 mt of coking coal," the official added.

New Ipad Application :Business Standard's all new IPad App Click here to download for free Other Stories      - Wall Street opens flat as data offsets Moody's warning - Thomas Cook India Q4 net jumps three times - Govt plans to make 30% sourcing from MSEs mandatory - Explain ways to cover govt loss on 3G roaming: TDSAT to telcos - Magma Fincorp plans to start gold finance biz in H1 of FY13

Tags : SAIL | coking coal | coal | import | export   Read Business news in  Advertisements -  Now property search gets more exciting than ever before! -  High Growth Business Opportunities in Africa - Register to explore -  Medium-sized businesses are the engines of a smarter planet. -  Save over Rs.3000 with IndianOil Citibank Card -  We live for our family. have you secured them? -  India's No. 1 Property Site. Click here to know more.. -  Diseases earlier, Saving Costs, Extending Lives. Know More.. -  Get 5% cashback on telephone bills with Citi -  Enjoy the journey as much as the destination. click to know more.. -  Exim Bank Conclave on India - Africa Project Partnership. Know more.. -  Be part of it The World's Largest Aircraft. -  Creating Wealth made simple the SIP way. Know more.. -  Only Developer to give a guarantee on time space & rate. -  Office 365 for professionals and small businesses. -  Buy Your Property with Our Triple Guarantee in India. -  Improve Patient Care & Experience. Click here to know more -  Win a Business Class Ticket to Europe..Know more.. -   Introduce a New Automotive Luxury Car.. know more -  Health is Wealth..... Insurance + Savings... Know More...