SAIL anticipates 4 Russian coking coal ships in Q3

29 Sep 2023 CW Team

Amarendu Prakash, Chairman, Steel Authority of India (SAIL), informed that the company was expecting four ships of coking coal from Russia in the September quarter, each with a capacity of 75,000 tonne. He mentioned that similar shipments had occurred in the first quarter (April-June). Additionally, Prakash revealed that the company was actively working on doubling coking coal production capacity in the International Coal Ventures (ICVL) at Mozambique, which currently stands at 2 million tonnes per annum. SAIL holds approximately 48% stake in this joint venture, as per its latest annual report. Addressing the challenges faced by the company, Prakash stated that the on-going high prices of coking coal were directly impacting the company's margins. He also expressed concerns about Europe's carbon tax mechanism, which would further increase the cost of Indian steel exports to Europe. To mitigate these challenges, he informed that the Indian government was in the process of developing local taxation rules and fiscal incentives to counterbalance the impact of these developments. Moreover, Prakash discussed the introduction of the carbon border adjustment mechanism (CBAM), a pioneering initiative worldwide. He mentioned that starting next month, importers of goods into the European Union would be required to report the emissions embedded in their products. Importers of steel goods would have to pay for these emissions in their shipments from 2026, a move that India planned to challenge at the World Trade Organization (WTO).

Infrastructure Urban

06 Nov 2025

Concord Control Systems Limited Reports ~85% YoY Growth in H1 FY26

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Gateway Distriparks Announces Q2 FY25 Results

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Last-Mile Connectivity a Prime Focus, Says Ms. Ashwini Bhide,

The IMC Chamber of Commerce and Industry (IMC) hosted a high-impact Managing Committee session today on the theme “Mumbai Metro: Transforming Connectivity and Commuting.” The session featured an insightful address by Ms. Ashwini Bhide, Managing Director, Mumbai Metro Rail Corporation Ltd. (MMRCL), who shared updates on key transport infrastructure developments across Mumbai and the MMR region.Emphasising the city’s critical economic role, Ms. Bhide noted, “Mumbai is the economic powerhouse of Maharashtra, with more than 95% of the region’s population living in urban areas. As Maharas..