The Minister of Steel, Beni Prasad Verma has said that government through its policies has been pursuing adoption of latest technologies for improving efficiency of Indian steel industry. The report of the Working Group on Steel Industry for the 12th Five Year Plan, National Steel Policy and Roadmap for R&D and Technology etc. enlist such meas
Tag: plant
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Tata Steel may raise funds from abroad for steel project
In order to fund its Rs 35,000 crore steel plant project in Odisha and also to reduce its debt, Tata Steel plans to raise $1 bn through issue of bonds in the international market by the end of March. The firm plans to raise fund through global bond issue because this may turn out to be a cheaper option for the expa
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JSPL to raise capacity of Angul plant by 4 mn t
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
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DSP commissions coke oven battery
Recently, Durgapur Steel Plant, which is part of Steel Authority of India (SAIL), commissioned a coke oven battery (No 2) at its unit. The company completed rebuilding of the 4.45-metre tall battery with 78 ovens and advanced pollution control systems after a delay of about two years. This is part of the Rs 3,000-crore modernisation cum expansion plan for DSP. Two other components of the gran
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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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SPS Shipping eyes coal ferrying contract
SPS Shipping is taking efforts to secure the contract to transport coal through inland waterways for NTPCĆās Barh-II thermal power plant project in Patna. The company is holding discussion with the public sector power major in this regard transport 3 million tonne of coal from Sandheads (mouth of the Hooghly river) alon
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Board gives one year for Posco’s Rs 530 bn SEZ project
Media reports suggest that the Board of Approval (BoA) for Special Economic Zone (SEZs) decided to give South Korean steel giant Posco one more year to start work on its proposed multi-product SEZ in Odisha. The company's proposed Rs 53,000 crore multi-product SEZ project in Odisha failed to take off as it is unable to acquire the required land in
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Odisha govt puts condition on raw material supply
Reports suggest that Odisha government has made some reservation in maintaining its commitment to supply raw material to steel projects, the memoranda of understanding (MoU) for which are already signed. In the case of existing MoUs, the government may not retain any clause committing grant of or recommendation for grant of Mineral Concession, a guid
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IISCO Steel to commission five packages
IISCO Steel Plant (ISP) expects to commission at least five packages, which are part of its ongoing Rs 16,000-crore modernisation and expansion project, between January and March 2013. Instead of waiting for the completion of the entire project, the firm plans to commission all the packages which are ready. It is learnt that the above five pack
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RIL to conduct maintenance of Jamnagar unit
Reports indicate that Reliance Industries (RIL) planned to conduct maintenance operation at its newer 580,000 barrels-per-day (bpd) Jamnagar refining complex in January. Consequently, the company plans to close its crude distillation unit and a secondary unit temporarily. The company is planning to shut a 13.5 metric tonne per annum (270