First, why you are creating or some other process is creating 60GB file ! maybe you need to take a look at that process to fix that process to generate smaller sql text file instead of creating a new process. However, if this is a one time thing that you need to do then that might be fine but to address your question I would use the BufferedReader to read and process the records if it's a large file as you indicated.
BufferedReader br = new BufferedReader(new FileReader(file));
String line;
while ((line = br.readLine()) != null) {
// process the line. and write into your output file and close the file.
}
br.close();