Odisha government may decide on the application of ArcelorMittal for renewing its memorandum of understanding (MoU) on the proposed 12 million tonne per annum (mn tpa) steel plant, in the next six to nine months. In 2006, both the state government and ArcelorMittal signed the agreement for the steel plant and
Category: Materials
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ArcelorMittal expects decision on pact renewal in 9 months
Odisha government may decide on the application of ArcelorMittal for renewing its memorandum of understanding (MoU) on the proposed 12 million tonne per annum (mn tpa) steel plant, in the next six to nine months. In 2006, both the state government and ArcelorMittal signed the agreement for the steel plant and
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Use of low-grade ore raises cost of steel firms
An agency report quoted Basant Poddar, Vice President of Federation of Indian Mineral Industries (FIMI) as saying that the use of low-grade iron ore by steel firms may raise the operational cost of these firms. On the back of acute shortage of iron ore in the country, steel firms are forced to use low-grade ore to run
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Use of low-grade ore raises cost of steel firms
An agency report quoted Basant Poddar, Vice President of Federation of Indian Mineral Industries (FIMI) as saying that the use of low-grade iron ore by steel firms may raise the operational cost of these firms. On the back of acute shortage of iron ore in the country, steel firms are forced to use low-grade ore to run
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Tata Steel expects phase I of Kalinganagar project in 2014
Anand Sen, Vice President, Tata Steel informed reporters that the Kalinganagar integrated greenfield steel plant would begin production in the second half of 2014. The 6 million tonne plant is being constructed in two phases of 3 mn t each, The first phase includes a 3 million tonne steel capacity unit and the common facili
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Draft policy calls for single e-window process
In the wake of delay in several steel projects and scams in allocating natural resources, the draft national steel policy suggests introduction of an online single e-window clearance for projects. The involvement of a large number of agencies in project clearances is considered to be a major hurdle in creation of green field steel capacities
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Net profit of Steel Exchange India rises
The net profit of steel maker and trader Steel Exchange India rose to Rs 5.85 crore during October-December 2012 from Rs 3.86 crore in the same quarter of previous year. But sales of the firm contracted slightly to Rs 304.89 crore during the quarter, from Rs 355.22 crore in the year-ago period. The company expects to save costs considerably with the recent lau
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JSPL to raise steel production capacity
Jindal Steel & Power (JSPL) has a steel production capacity of 3.5 million tonne (mn t) at present, which the firm expects to raise to 15 mn t by 2020. This would make the company the fourth largest steel maker from its current position of sixth. In 2013-14, additional 7 mn t would be commissioned in Angul (Odisha) and
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Prithvi Steels to set up steel tube plant in Rajasthan
Prithvi Steels, which makes steel pipes, agreed to set up a steel tube manufacturing facility on 2 acre land in Rajasthan for Mahindra World City, Jaipur. Prithvi Steels would set up the plant at a cost of Rs 20 crore. Mahindra World City, which is an integrated business city, expects the plant to be ready by mid-2014 and also plans to set up a strip mill in the future.
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Assocham suggests exclusion of Japan, Korea from FTA
Industry body Assocham said that companies in Japan and Korea are flooding the Indian market with their steel products and hence these products must be excluded from the ambit of FTA with these nations. The body alleges that the companies from these two nations are taking advantage of concessional duty rates at the cost of