Reports suggest that Uttam Galva Steels is holding talks with South Korean steel major Posco to set up a 3 million tonne per annum (mn tpa) steel plant in Maharashtra at a cost of Rs 16,000 crore. Reports also indicate that both the companies plan to form a joint venture for the project and the world's leadin
Tag: plant
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RSP to complete expansion, modernisation project
Rourkela Steel Plant (RSP) may be able to increase its steel output as it is almost completing the Rs 12,000 crore expansion project, which would double its production capacity from 2 mn t to 4.5 mn tpa (million tonne per annum) of hot metal. The project would also increase its crude steel and saleable steel capacity. The company is also expected to commission the new 4,060 cubic metre blast furnace, large
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Panel to submit report on Sterlite plant by April end
The four-member committee, appointed by the National Green Tribunal to study the functioning of the copper smelting plant of Sterlite Industries at Tuticorin, would submit its report on April 29. The panel will consist of two members from the Tribunal and one each from Sterlite Industries and Tamil Nadu Pollution Control Board (TNPCB
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Haryana govt may explore legal option against CEA order
The order of the Central Electricity Regulatory Commission (CERC) allowing Adani Power to charge "compensatory" tariffs for electricity from its Mundra plant has not gone down well with Haryana government. The state government plans to take legal action against the CERC order as it feels that the order violates the p
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AOSF urges Odisha govt to ensure ore availability
The All Odisha Steel Federation (AOSF) again urged the state government to make available raw material (iron ore) for the local steel and sponge iron makers at fair prices. In a letter to the steel & mines department, AOSF said the policy resolutions taken by the state government to ensure raw material security for the local plant
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VSP produces 3.81 mn t of hot metal
Visakhapatnam Steel Plant (VSP) produced 3.81 million tonne (mn t) of hot metal and 3.4 mn t of iron & steel in 2012-13. It is learnt that the company achieved a cumulative sales of Rs 13,650 crore in 2012-13 and its sales was the highest in the month of March 2013 at Rs 2,136 crore. Exports at Rs 601 crore registered a growth of 45 p
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Tata Steel to issue dollar bonds to raise $1 bn
Media reports indicate that Tata Steel plans to rise $1 billion through issue of foreign currency bonds mainly to refinance loans. November 2009 was the last time the company raised dollar-denominated bonds. Besides this, the company would raise Rs 130 billion for its 6-million metric-tonne steel plant project in the eastern state of Odisha. The plant would be built in phas
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SunCoke Energy invests Rs 3.68 bn in Indian JV
US listed SunCoke Energy invested around Rs 368 crore to acquire 49 percent stake in the joint venture, VISA SunCoke, while the Indian partner Visa Steel would hold 51 percent stake. In its board meeting the Kolkata-based steel company Visa Steel formally announced the joint venture, which
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Power industry demands gas price pooling
Industry players in the power sector demanded the union oil ministry to form a common natural gas price pool for core sectors such as power and fertilisers. They also asked the ministry to raise the domestic supply of natural gas for power plants by diverting 6 million standard cubic metre per day (mscmd) of gas being supplied to the non-core sector and reserving the new
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Tata Steel’s 6 mn tpa project may be operationally beneficial
According to analysts, the proposed 6 mn tpa (million tonnes per annum) steel plant by Tata Steel in Odisha would be operationally beneficial for the company. This is because the proposed plant would have captive iron ore reserves, efficient logistical infrastructure reducing costs and technologically efficient plan