MOSCOW, Aug 24 (PRIME) -- India plans to buy almost all Russian exports of coking and anthracite coal by raising the purchases to 40 million tonnes per year worth U.S. $4.5 billion from less than 1 million tonnes now, Kommersant business daily reported on Monday quoting sources that participated in an August 14 meeting of the State Council’s working groups.
The sources told the business daily that Deputy Energy Minister Anatoly Yanovsky said at the meeting that India, which has serious plans to raise steel production, but has no fields of metallurgical coals, had requested up to 40 million tonnes of coking coal, anthracites, and pulverized coal fuel per year.
To raise exports of metallurgical coals of 46 million tonnes, Russia plans to improve export routes through the southern ports, this is why the Energy Ministry asked the government to subsidize terminal of logistics company OTEKO in the port of Taman, which should reduce costs of coal transshipment to $8 per tonne from $14 per tonne.
Indian companies are in active negotiations on imports of Russian coal looking for projects to enter. Among the Russian coal producers, Sibanthracite and Kolmar are most interested in exporting coal to India.
A Sibanthracite representative told Kommersant that coal exports to India, one of the most promising markets for metallurgical coals, have risen by 29% since January 1. Anna Tsivileva, chairman of the board of directors of Kolmar, said that the company has been in active negotiations with Indian companies since 2019, and that it will open the Indian market after the launch of the VaninoTransUgol port terminal in September.
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