The Indian Steel Association (ISA) presented a roadmap on securing 161 million tonnes of coking coal supplies to senior officials including the steel minister, Indian media reported, citing industry sources.
This aims to lift Indian steel industry's production capacity to 300 million tonnes per annum by FY2030.
Coking coal and iron ore are the two key ingredients used to make steel from blast furnaces. India can produce iron ore by its own, but coking coal supply is heavily replied on imports.
The roadmap is targeted to explore the possibility of expanding coking coal sources, particularly imports from Russia, Mongolia, Canada and the United States, the sources said.
It was also reported that India's steel minister had asked the association to develop medium- and long-term strategies to utilize India's existing low-grade iron ore.
In terms of steel imports, the steel association was also invited for providing suggestions on how to contain the surge in steel imports.
Data showed India imported 4.77 million tonnes of finished steel in 2022, up 21% from a year earlier.
(Writing by Shengnan Liu Editing by Tammy Yang)
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