Jindal Stainless (JSL) and South Korean steel maker Posco are planning to start jointly a marketing arrangement for a grade of stainless steel that JSL claims to have been particularly successful in commercializing. JSL would benefit from this proposed arrangement as it could access markets through the South Korean steel
Author: admin (Infratructure Today)
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Chinese steel usage may grow 3.5% in 2013
According to a forecast by World Steel Association (WSA), consumption of steel in China may grow 3.5 per cent in 2013 to 668.8 mn t, following a 1.9 per cent increase in 2012. But the association expects steel demand growth in China to slow in 2014 to 2.5 per cent on the back of the local government's measures to control investment in an effort to re-balance the
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Steel firms prefer scrap over local sponge iron
Indian steel companies are said to be preferring to import cheap steel scrap from African and West Asian countries, whose prices are falling, instead of buying domestic sponge iron. In 2012-13, the country's import of steel scrap is estimated to have risen 25 per cent to 7.5 million tonne from the previous year, Metal Recycling Association of India said. Scrap prices declined 8 per cent to $390 a tonn
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RPTL receives Rs 30 bn fund infusion from RIL
Reliance Ports & Terminals (RPTL) is learnt to have received Rs 3,000 crore equity infusion from its Reliance Industries (RIL) in 2012-13. Also, the Mukesh Ambani-led firm infused Rs 1,575 crore of equity in Reliance Gas & Transportation Infrastructure (RGTIL) last year. RGTIL is also said to have
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Cairn India awaits govt nod for Rs 50 bn investment plan
Cairn India is awaiting government approval for an over-arching integrated block development plan which envisages investment of Rs 5,000 crore on its Rajasthan oil fields between 2013-2016. The company is also awaiting government decision on extending the Production Sharing Contract (PSC) of the R
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CAG report finds fault with port development in Maharashtra
According to a recent report by the Comptroller and Auditor General (CAG), the Maharashtra Maritime Board failed to prepare any comprehensive plan with a long-term vision for minor ports in the state. The report on General and Social Sector, which was tabled in the state legislature, shows that the maritime board is developing the ports in the state in an ad-hoc manner owing to lack
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Ministry panel for cancelling part of Adani’s SEZ project
A committee under the union environment ministry recommended the ministry to cancel the clearance for the northern part of Adani Group's Mundra Port and Special Economic Zone. The committee, headed by Sunita Narain, director-general of Delhi-based Centre for Science and Environment, alleged Adani Group with violating green norm
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Pune’s Mumbai-Blore h’way junction renamed as NDA Chowk
The junction that joins Mumbai-Bangalore National Highway and Pune-Paud Road in Pune area was renamed NDA Chowk on April 20. The name change ceremony took place at the junction in the presence of National Defence Academy (NDA) and Pune Municipal Corporation (PMC) officials. The junction also leads to a road to the NDA campus.
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Odisha govt to complete NH works in scheduled time
Land acquisition is to be paced up to complete the National Highway projects within the scheduled time, the Odisha government has decided. The State Chief Minister Naveen Patnaik, who reviewed the progress of different NH projects, asked the officials to expedite the process for getting forest clearances.
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Work on Ennore-Manali Road to be completed by 2013
The decade-old Ennore Manali Road Improvement Project (EMRIP) will be completed by the year-end, according to Highways Minister Edappadi K Palaniswami. After missing several deadlines, the Rs 600-crore project was launched by Union Shipping Minister GK Vasan in January 2011.