Sponge Iron Manufacturers Association (SIMA), in a pre-Budget memorandum, urged the government to raise customs duty on sponge iron to 10 per cent from the current level of 5 per cent in the union budget 2013-14. The association wants the government to raise duty in order to reduce the rising import of sponge iron. The indu
Category: Materials
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Govt aims upto Rs 35 bn from stake sale in SAIL
Before the end of the financial year 2012-13, the government plans to offload 10.82 per cent of its stake in state-owned Steel Authority of India (SAIL) and garner Rs 2,700-3,500 crore. The department of disinvestment (DoD) in holding discussions with the steel ministry on this matter and soo
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Govt aims upto Rs 35 bn from stake sale in SAIL
Before the end of the financial year 2012-13, the government plans to offload 10.82 per cent of its stake in state-owned Steel Authority of India (SAIL) and garner Rs 2,700-3,500 crore. The department of disinvestment (DoD) in holding discussions with the steel ministry on this matter and soo
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Demand for steel expected to recover
According to media reports, the TATA Steel expects demand for steel to revive following the reform measures taken by the government and also the recent monetary policy easing by the Reserve Bank of India (RBI). The company feels that currently, demand for steel remains sluggish with many infrastructure projects that have achieved financial closure not taking off. He said that besides steel demand from the automobile sec
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Demand for steel expected to recover
According to media reports, the TATA Steel expects demand for steel to revive following the reform measures taken by the government and also the recent monetary policy easing by the Reserve Bank of India (RBI). The company feels that currently, demand for steel remains sluggish with many infrastructure projects that have achieved financial closure not taking off. He said that besides steel demand from the automobile sec
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NMDC seeks equity partner for 3 mn t steel project
Public sector iron ore miner NMDC, which plans to set up a 3 million tonne (mn t) steel plant at Nagarnar in Chhattisgarh, is looking out for an equity partner for the project. The project reportedly faces delay because NMDC whose core competency lies in iron ore mining could not proceed owing to unavailability of a steel maker as a part
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NMDC seeks equity partner for 3 mn t steel project
Public sector iron ore miner NMDC, which plans to set up a 3 million tonne (mn t) steel plant at Nagarnar in Chhattisgarh, is looking out for an equity partner for the project. The project reportedly faces delay because NMDC whose core competency lies in iron ore mining could not proceed owing to unavailability of a steel maker as a part
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SIMA seeks imposition of duty on scrap import
In its pre-Budget memorandum, the Sponge Iron Manufacturers Association (SIMA) urged government to discourage huge import of steel scrap, which is killing Indian sponge iron industry. The association wants the government raise basic customs duty on steel melting scrap from 0 to 10 per cent in Budget 2013 to discourage its
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SIMA seeks imposition of duty on scrap import
In its pre-Budget memorandum, the Sponge Iron Manufacturers Association (SIMA) urged government to discourage huge import of steel scrap, which is killing Indian sponge iron industry. The association wants the government raise basic customs duty on steel melting scrap from 0 to 10 per cent in Budget 2013 to discourage its
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Lloyds Steel seeks shareholder nod for name change
On March 4, Lloyds Steel has called an Extraordinary General Meeting of its shareholders to clear the change in the name of Lloyds Steel Industries to Uttam Value Steels after Uttam Galva group acquired 58.35 per cent stake in Lloyds. It may be noted that the board of directors of the firm cleared the change in name of the company recently