Coal India arm BCCL books 2.40 million tonnes coking coal for steel sector
The government on Thursday said 2.40 million tonnes (MT) of coking coal have been booked of the 3.36 MT offered by Coal India arm Bharat Coking Coal Ltd (BCCL) under auction mode for the steel sector for long-term linkages.
Coking coal is a key raw material that is used to manufacture steel through the blast furnace route.
"BCCL achieved record-breaking success in the recently concluded long-term linkage e-auction (tranche VII) for the steel sub-sector. Of the 3.36 MT of coking coal offered, 2.40 MT was successfully booked, setting a new benchmark in coal bookings," coal ministry said in a statement.
BCCL CMD Samiran Dutta said efforts to make the auction process more inclusive and transparent have paid off significantly.
The import of coking coal puts a burden on country's valuable foreign reserve, and to change this, BCCL has undertaken reforms to make its coking coal auction processes more flexible, transparent, and attractive for the country's steel producers, he said.
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