Jindal Steel and Power (JSPL) plans to raise the capacity of its steel plant at Angul in coastal Odisha by 4 million tonne (mn t) in the second phase and is working to secure funding for the project. The company is considering 60:40 debt debt-equity ratio for the 4 mn t expansion. But it is not known how much would be the capital expenditure on the second phas
Tag: manufacturing
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BHEL agrees to set up MEMU manufacturing unit
Bharat Heavy Electricals (BHEL) signed a Memorandum of Understanding (MoU) with the Indian Railways to set up a Greenfield MEMU coaches manufacturing facility at Bhilwara in Rajasthan. Indian Railways introduced Main Line Electric Multiple Unit Trains, popularly known as MEMU trains, in the Year 1994-95, as a mode of rapid transit system, to cate
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Oil, defence ministries discuss clearance to 39 blocks
The Minister of State for Petroleum & Natural Gas PanabaakaLakshmi informed the Lok Sabha that as per the directives of Cabinet Committee on Investments (CCI), meetings are being held to resolve the issue of Ministryof Defence (MoD) placing restrictions on exploration and development activities in respect of 39 exploration blocks in offshore areas including Krishna-God
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Oil, defence ministries discuss clearance to 39 blocks
The Minister of State for Petroleum & Natural Gas PanabaakaLakshmi informed the Lok Sabha that as per the directives of Cabinet Committee on Investments (CCI), meetings are being held to resolve the issue of Ministryof Defence (MoD) placing restrictions on exploration and development activities in respect of 39 exploration blocks in offshore areas including Krishna-God
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New coke battery of IISCO plant to benefit bottomline
Narendra Kothari, Chief Executive Officer of IISCO Steel Plant said the new coke oven battery Number 11, which began operation recently, would contribute significantly to the overall bottom line of the company. It may be noted that the Burnpur-based IISCO Steel Plant (ISP), which is part of SAIL, begun trial productions at some of its new units – coke oven batt
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New coke battery of IISCO plant to benefit bottomline
Narendra Kothari, Chief Executive Officer of IISCO Steel Plant said the new coke oven battery Number 11, which began operation recently, would contribute significantly to the overall bottom line of the company. It may be noted that the Burnpur-based IISCO Steel Plant (ISP), which is part of SAIL, begun trial productions at some of its new units – coke oven batt
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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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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.
It e
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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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Overseas steel firms may invest in local companies
In order to gain foothold in a growth market, overseas steel manufacturers may make strategic investments in smaller steel mills in India, agency reports suggest. Such investment by foreign steel firms may be beneficial for both the investor and the local company. The local partner gets both funding and technology while the