Kolkata, 10th September 2010: Gujarat NRE Coke Ltd, the country’s largest independent producer of Low Ash Metallurgical Coke (LAMC), has set aim on delivering long term returns to the investors in the stocks of the Company.

Speaking on the occasion of the 23rd AGM, Mr Arun Kumar Jagatramka, Chairman and Managing Director said,” I can assure that we are a company focused on the long run and all long term investors have benefited substantially by investing in Gujarat NRE.  I have always believed in value based decisions and have never been swayed away by short term influences. Such pin pointed focus is the main reason for our stellar performance in the last decade and I would not be surprised if we repeat the same feat in the current decade 2010-2020.”

The Company presently has a met coke producing capacity of nearly 1.25 million tones per annum and has extensive plans for Brownfield and Greenfield expansion, taking the total capacity to around 4 million tonnes per annum in the next 3-4 years. To finance the expansion plans, Gujarat NRE Coke plans to raise funds through issue of foreign currency convertible bonds (FCCBs).

Back in Australia, the hard coking coal production from the mines is being ramped up to progressively reach an output of around 6 million tonnes per annum by the year 2014-15.

The Company is also in receipt of the shipment of coking coal from Pike River Coal, New Zealand in which it holds strategic stake.

Prices of both coking coal as well as metcoke have doubled in the last 12 months and are expected to continue moving upwards.

For more information please contact:

Mr Sutirtha Roy at +(91) 98790 19880