The Bhilai Steel Plant's turnover for the last April-September period is Rs 8,406 crore and the Profit Before Tax (PBT) earned by the company is Rs 940 crore, said the Union Minister of Steel Beni Prasad Verma in Lok Sabha on December 9. The company is being expanded at Rs 17,266 crore, he added.
Category: Materials
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Govt to expand Bhilai Steel Plant at Rs 17,266 cr
The Bhilai Steel Plant's turnover for the last April-September period is Rs 8,406 crore and the Profit Before Tax (PBT) earned by the company is Rs 940 crore, said the Union Minister of Steel Beni Prasad Verma in Lok Sabha on December 9. The company is being expanded at Rs 17,266 crore, he added.
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Durgapur Steel takes up Rs 2,875 cr modernisation
SAIL's Durgapur steel plant has taken up modernisation at a cost of Rs 2,875 crore. The modernisation includes advanced pollution control measures etc. After the completion of the ongoing modernisation and expansion programme, the capacity of Durgapur Steel Plant (DSP) would be enhanced to 2.12 million tonne of saleable steel from the current level of 1.60 mt.
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Steel Ministry’s PSUs to invest Rs 15,000 cr on expansion
To modernise their set up and expand their operations, metal and mining PSUs-SAIL, NMDC and RINL plan to invest nearly Rs 15,000 crore next fiscal. Steel Authority of India (SAIL) will spend Rs 9,000 crore next fiscal, followed by iron ore miner NMDC Rs 4,345 crore and Rashtriya Ispat Nigam (RINL) Rs 1,600 crore to expand and modernise their operations.
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SAIL to up iron ore output to 43 mn tonne
Government-owned Steel Authority of India (SAIL) plans to raise the iron ore production capacity to 43 million tonne per annum by 2015-16 from the existing 28 mtpa. India's largest steel maker, which is also the second-largest iron ore producer after NMDC, also believes that with the ongoing and proposed expansion at the mines, it would be able to achieve 58 mtpa iron ore production by 2020.
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Kamdhenu Ispat targets Rs 800 cr turnover
Kamdhenu Ispat hopes to clock 46 per cent jump in top-line to Rs 800 crore in 2013-14 on higher sales from steel business. Kamdhenu Ispat is into the manufacturing and marketing of TMT bars and decorative paints.
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Mahindra’s steel service centre to come up at Pune
To set up an automotive steel service centre in at Chakan near Pune, Mahindra Inter-trade is to get into a new joint venture with China Steel Global Trading Corporation, Taiwan and Mitsui & Co (Asia Pacific) Pte Ltd Singapore.
The facility is be set up at a cost of Rs 150 crore ($24 million) over 10 acres of land and will have an annual processing capacity of 130,000 tonne.
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Tata Steel posts Rs 917 cr net on improved biz
In the second quarter, Tata Steel on November 13 reported a consolidated net profit of Rs 917 crore against a net loss of Rs 364 crore a year ago, mainly because of improved share in the domestic market coupled with better pricing and rising volume in its largest market, Europe.
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JSWĂâs Vijayanagar plant to run at full capacity
Due to iron ore supply issues, JSW SteelĂâs Vijayanagar plant in Karnataka is currently running at 85 per cent capacity utilisation level. While the Supreme Court has approved the opening of 115 Category A and B iron ore mines in Karnataka, only 15 are up and running.
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JSW mulls to set up 5,000 retail shops in taluks
In the next five years, JSW Steel plans to open as many as 5,000 shops to sell custom-made steel to tap demand in rural and semi-urban India. The company believes that rising incomes in both rural and semi-urban areas in the country have boosted construction of homes and non-food spending.