Shree Cement Ltd. agreed to buy 500,000 metric tons 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 $105 a ton for the imported coal used in power plants, the coal newsletter said. The company last month took delivery of a 147,000-ton cargo at Navlakhi port in western India.
India’s thermal-coal imports rose by about 16 percent to 44 million tons in the year ended March 2010, according to data from the coal ministry. The country faces a shortfall of 52 million tons in the year ending March 2011, according to a statement by Coal MinisterSriprakash Jaiswal.
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