In order to ensure assured power supply for its future requirement, the Visakhapatnam Steel Plant is working on a 240 mw captive power plant project in two phases. In the first phase, the firm would be setting up a 120 mw blast furnace gas-based captive plant with an investment of Rs 677 crore. AP Choudhary, Chairman and Managing Director of the firm, laun
Tag: capacity
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Land, green clearance hit steel projects
Some industry observers feel that governmentÂ’s policy affected many steel projects in the country. According to one estimate, at least 35-40 million tonne of capacity has been cancelled or postponed over the past few years, putting a question mark over the steel ministryÂ’s dream of taking the installed capacity to 200 million tonne from 90 million tonne now
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Ennore Port emerging as an automobile export hub
It is learnt that Ennore port, located 25 km north off Chennai, is emerging as an alternative for automobile exports because of capacity constraint in the Chennai port. Marc Nassif, Managing Director, Renault India, said the Ennore port provides adequate capacity and authorities are willing and helpful. The port is said to have shipped 1.04 lakh cars last year and expects this number to rise to 1.6
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Coking coal import set to rise
Somdeb Banerjee, a top official of Tata Steel for South Africa expects India's steel production capacity to rise threefold between 2010 and 2020 to 179 million ton a year. The increase in capacity may raise India's import of coal coal to at least 37 million ton in 2012-13 from 31.8 million ton in 2011-12, reports suggest. Reports also indicate that domestic coking coal ou
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Lloyds steel to get more funding from Uttam Galva
The loss making Lloyds Steel, in which Uttam Galva group acquired 58.35 percent stake recently, is set to get a further capital infusion of Rs 380 crore from the group. Agency reports suggest that the Rs 380 crore additional investment would be used to turnaround Lloyds Steel, which posted net losses of Rs 290 crore in last three financial years. Lloyds Steel has a total loan portfolio (both, secured and u
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Kolkata Port mulls expansion project
Through the Haldia Dock II project, the Kolkata Port Trust plans to add 23.4 million tonne capacity, agency reports suggest. The project, which will be executed under a PPP (Public-private partnership) model, received approval from the PPP appraisal committee (PPPAC) for the model concession
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Iron ore issue hits steel firms
Steel makers in the country are complaining about lack of sufficient supply of iron ore, the key raw material for steel production, and also the increase in price by NMDC. Media reports suggest that steel firms are reducing their scale of operation and hence their capacity utilisation has declined because of shortage of iron ore. These firms
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Ministry allows Adani, Essar to bid for terminal project
Weekly Insight learns from top government sources that Adani Ports and Essar Ports received approval from the union home ministry to participate in the 4,000-crore mega container terminal project in Chennai Port.Chennai Port plans to set up a mega container terminal, with a capacity of 4 million TEU (Twenty foot-equivalent units). The proposed terminal has been envisaged as the large
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Nalco to seek temporary permit for bauxite mining
Ansuman Das, Chairman and Managing Director of National Aluminium Co (NALCO) said the firm would
apply for a temporary permit to resume bauxite mining
at Panchpatmali mine in the Koraput district of Odisha. The mining lease expired recently and following this the firm suspended operations at the mine in eastern India, which is its only bauxite mine
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Fall in refining margins may hurt oil firms
Many brokerages feel that the margins of Indian refiners may come under pressure because of a decline in the Singapore benchmark refining margin.If the margins remain at the current level in the remaining part of this quarter, margins of companies like Reliance Industries (RIL), Essar Oil and public sector firms like Bharat Petroleum (BPCL), Hindustan Petro