Union Minister of Steel Beni Prasad Verma informed that provisional data released by Joint Plant Committee (JPC) indicates that production for sale of total finished steel increased 0.5 percent in February 2013 as compared to a growth of 4.3 percent (and not 8.7 percent) in February 2012. In a written reply in the Rajya Sabha Verma said, Steel being a deregulated sector, the role of the government is that of a facilitator providing a conducive polic
Tag: production
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Panel revokes green nod for Posco project
South Korean steel major Posco will have to take environmental clearance again for at least some part of its proposed Rs 54,000-crore integrated steel plant in Odisha as the statutory environment panel revoked the existing clearance. The company has been asked by the expert appraisal committee on industry to furnish detailed infor
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RIL may invest Rs 1.5 trillion in core businesses
Media reports indicate that the various businesses of Reliance Industries (RIL) may get Rs 179,000 crore investment in the next five years. Of the total amount, the firm may invest about Rs 151,000 crore towards core oil, gas, refining and petrochemical sectors in the next five years; the rest would go towards the t
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JSPL aims to be third largest steel maker in 2 yrs
Jindal Steel & Power (JSPL), which is currently the country's sixth-largest steel producer, plans to climb to the third slot by 2015. By 2015, the firm reportedly aims to raise its steel capacity to 14 million tonne per annum (mtpa) and pellet (direct reduced iron) capacity to 14.5 mn tpa. The firm plans to set up a 6 mn tpa steel plant in Angu
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Govt told to make CIL produce coal at allotted mines
Perturbed over the slow pace of development at 119 mines allocated to Coal India, a Parliamentary panel has asked the government to 'act swiftly' and ensure that CIL starts production there. With such a slow pace of work, the committee are unable to understand when the actual production from these coal blocks allocated to CIL will be started, the Standing Committee on Coal and Steel said in its report tabled in Parliament on April 24.
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Steel output expands 6.5% in March
The country witnessed the fastest rate of growth in steel production during March in the last three months at 6.5 percent to 6.86 million tonne (mn t), data from the World Steel Association shows. It may be noted that in January, steel output grew at a slower rate of 3.8 percent to 6.6 mn t while in February it contracted 0.5 percent to 6.2 mn t over the year ago perio
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District officials acquire land for Rs 520 bn steel project
Local government official sources informed that the process of land acquisition for the proposed Rs 52,000 crore Posco steel plant in Odisha's Jagatsinghpur district was continuing peacefully. The district authorities are acquiring land from betel farmers and demolition of betel vines has reportedly reach
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Steel firms prefer scrap over local sponge iron
Indian steel companies are said to be preferring to import cheap steel scrap from African and West Asian countries, whose prices are falling, instead of buying domestic sponge iron. In 2012-13, the country's import of steel scrap is estimated to have risen 25 per cent to 7.5 million tonne from the previous year, Metal Recycling Association of India said. Scrap prices declined 8 per cent to $390 a tonn
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Cairn India awaits govt nod for Rs 50 bn investment plan
Cairn India is awaiting government approval for an over-arching integrated block development plan which envisages investment of Rs 5,000 crore on its Rajasthan oil fields between 2013-2016. The company is also awaiting government decision on extending the Production Sharing Contract (PSC) of the R
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SAIL to focus on upgrading captive mines
In order to meet the increase in iron ore requirement following the expansion of its steel plant, Steel Authority of India (SAIL) is in the process of upgrading its captive ore mines. The company plans to raise its iron ore production to 39 million tonne per annum in line with its mega expansion plan of producing over 23.6 million tonne per annu