Union Minister of Steel Beni Prasad Verma informed Parliament that his ministry routinely consults the steel industry to be apprised of the constraints to growth and recommends necessary corrective measures as and when necessary, to other concerned ministries. He said the government has taken the following steps to support the competitive production and capacity growth of the steel
Author: admin (Infratructure Today)
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JSW Steel delays expansion plan
According to media reports, JSW Steel halted its expansion plan of its 10 million tonne Vijayanagar plant in Karnataka to 12 million tonne until such time the iron ore supply improves in the state. The company was to invest Rs 2,695 crore on the expansion project in 2013-14 by borrowing Rs 1,750 crore and using its cash reserves for the remaining about Rs 945 crore
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SAIL, Posco in talks over steel plant project
State-run firm Steel Authority of India (SAIL) has been in discussion with POSCO for setting up a FINEX technology based steel plant of around 3 Million Tonne Per Annum (mn tpa) hot metal capacity as a joint venture at Bokaro Steel Plant. It is estimated that around 1,100 acre land would be required for this purpose. SAIL and POSCO have not reached an agreement on the share holding structure of the j
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India, Brazil to sign pact on cooperation in steel sector
The Minister of Steel, Beni Prasad Verma has said that a Letter of intent has been signed recently in February, 2013 between Ministry of Steel, Govt. of India and Ministry of Mines and Energy, Federative Republic of Brazil to promote and expand bilateral relations in mineral and steel sector. Next step is to sign a Memorandum of Understanding (MoU) between the Government of Brazil and Gov
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SAIL imports 75% of coking coal requirement
Steel Authority of India (SAIL) imports 75 percent of its requirement of coking coal from foreign countries and the rest through captive mines and domestic sources. This information was given by the Minister of State for Commerce & Industry, D Purandeswari in a written reply in the Lok Sabha. The company has to rely on imports for substantial consumption of coking coal because of the limited availa
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Cairn India, ONGC to produce oil from Aishwariya field
Cairn India and ONGC, which is a 30 per cent joint venture partner in the former's Aishwariya oil field in Rajasthan, hope to close 2013-14 at a production rate of 200,000-215,000 barrels of oil a day from the field. Aishwariya is the third largest discovery in the Rajasthan block and can produce higher than the current production rate approved under the field development plan.
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GSPC may start production from KG basin block
By the middle of the year 2013, Gujarat State Petroleum Corp (GSPC) may start producing natural gas from the Deen Dayal (DD)-West gas fields in the Krishna Godavari basin (KG basin), media reports indicate. In mid-2005, the Gujarat government-owned GSPC announced a gas discovery at the DD-west block. Such
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Govt may complete work on Permude cavern by year end
Government has completed 95 per cent work on the Permude underground rock caverns for crude oil with a storage capacity of 2.5 million metric tonne of crude oil, media reports indicate. The project was originally slated for completion in September last year, but it is expected to be completed by the end of 2013. From May, government would begin work on laying a 12-km pipeline from Thokur to Perm
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OMCs ask Kerala govt to forgo sales tax
State-run oil marketing companies (OMCs)
Indian Oil Corporation and Hindustan Petroleum Corporation argued that Kerala government must forgo the sales tax of Rs 12 imposed on a litre of diesel. The oil companies argued this in response to a petition filed by the Kerala State Road Transport Corporation (KSRTC) in the state High Court against these comp
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Oil import from Iran set to fall further in FY13
Media reports indicate that India's crude oil import from Iran may fall from 18.1 million tonne (mn t) in 2011-12 to about 13 mn t in 2012-13 because of sanction imposed by Western countries on the gulf nation. During the April-December 2012, Iran, which was IndiaĂâs second biggest supplier of crude oil after Saudi Arabia in 2010-11, supplied