Union Minister of Steel, Beni Prasad Verma ruled out any question of revival or restructuring of loss making plants or units of Steel Authority of India (SAIL). He argued that although some plants or units of SAIL have reported losses, SAIL on the whole is making net profit and hence there is no case for revival or restr
Category: Materials
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SAIL setting up 11 steel processing units
Minister of Steel, Beni Prasad Verma has said that there are 11 Steel Processing Units (SPUs) which are to be set up to meet the specific requirements of the consumers in different states by Steel Authority of India (SAIL) as indicated below: Bihar - At Bettiah, Mahnar and Gaya
Madhya Pradesh - At Hoshangabad, Ujjain and Gwalior
Himachal Pradesh - At Kangra
Utta
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Sangam invested Rs 5 bn on steel venture
Sangam Group invested Rs 500 crore in Mahalaxmi TMT, its steel venture company. Mahalaxmi TMT commissioned a 240,000 tonne per annum steel plant at Devali, near Wardha in Maharashtra. The plan would produce mild steel billets through induction furnace route and it would use the lates
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DSP commissions coke oven battery
Recently, Durgapur Steel Plant, which is part of Steel Authority of India (SAIL), commissioned a coke oven battery (No 2) at its unit. The company completed rebuilding of the 4.45-metre tall battery with 78 ovens and advanced pollution control systems after a delay of about two years. This is part of the Rs 3,000-crore modernisation cum expansion plan for DSP. Two other components of the gran
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Tata Steel MD welcomes budget 2013-14
HM Nerurkar, Managing Director of Tata Steel opined that the Union Budget 2013-14 made an attempt to achieve inclusive growth and a sustainable economy given the global economic scenario. Nerurkar welcomed the thrust given to the infrastructure industry through investment allowance of 15 per cent and various steps for mobilising funds for the gro
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Innovative sealing solutions
Trelleborg has introduced a new and effective sealing solution. The ZurconĆĀ® U-Cup RU9 performs better than standard U-Cups. TurconĆĀ® M12 is the new all-round material for hydraulic applications,
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Posco expects to ready steel project in 5 years
Media reports quoted a senior executive of Posco India as saying that the company needs at least two years for fencing and land preparation for its proposed 8 mn tpa steel project and subsequently the first stage construction of the project needs three years. So, the company expects to begin production at the mega steel plant near Paradip in Odisha's Jagatsinghpur dist
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SBI lends Rs 62 bn to Visakhapatnam Steel Plant
Visakhapatnam Steel Plant borrowed Rs 6,200 crore from the State Bank of India (SBI) in order to finance its business expenditure. Speaking to reporters, Pratip Chaudhuri, Chairman of SBI said the bank's loan to the RINL Ćāis the biggest contribution it is making to the industrial development of this
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Chhattisgarh govt gives sops to steel sector
Chhattisgarh government reduced the entry tax on iron ore, pig iron and steel scrap purchased from outside the state to 0.5 per cent from 1 percent in the budget for 2013-14. The state government also reduced the value-added tax on TMT steel bars from 5 to 3 per cent, while the entry tax on iron ore
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World steel output grows a mere 0.8%
Data from World Steel Association (WSA) shows the global production of the alloy rose a mere 0.8 percent in January 2013 to 125 million tonne (mn t) from 123.7 mn t in January 2012. During January 2013, India produced 6.3 mn t, data from the association shows. In its monthly report, the body said