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).

Building Material

15 Oct 2025

Centre Plans Easier Green Clearances for New Airports

The central government is preparing to streamline environmental clearance procedures for airport projects to accelerate infrastructure development across the country. According to officials, the Ministry of Civil Aviation (MoCA) is working with the Ministry of Environment, Forest and Climate Change (MoEFCC) to establish a single-window mechanism for faster approval of greenfield and brownfield airports. The proposal seeks to reduce the time required for obtaining environmental clearance by simplifying inter-ministerial coordination and standardising assessment parameters. The move is part of ..

Beer Makers Urge Import Relaxation Amid Aluminium Can Shortage

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India Surpasses Japan as World’s Third-Largest Auto Market

India has overtaken Japan to become the world’s third-largest automobile market, marking a major milestone for the country’s manufacturing and mobility sector. Union Minister for Road Transport and Highways, Nitin Gadkari, credited the achievement to India’s growing production capacity, rising domestic demand, and sustained policy support for localisation and innovation. The country’s vehicle sales and manufacturing output have surged in recent years, positioning it just behind China and the United States. According to industry estimates, India’s automobile sector supports over 3..