Shree Cement 500,000t coal agreement

Shree Cement 500,000t coal agreement
Published: 13 December 2010

Shree Cement Ltd agreed to buy 500,000t of imported coal for delivery by April next year, India Coal Market Watch reported, without saying where it got the information.

The Kolkata, India-based cement maker paid a delivered price of US$105/t for the imported coal used in power plants, the coal newsletter said. The company last month took delivery of a 147,000t cargo at Navlakhi port in western India.

India’s thermal-coal imports rose by about 16 per cent to 44Mt in the year ended March 2010, according to data from the coal ministry. The country faces a shortfall of 52Mt in the year ending March 2011, according to a statement by Coal Minister Sriprakash Jaiswal.

Source: Bloomberg