During Apr-Jun 2013, output of saleable steel rose 6 percent to 3.2 million tonne (mn t) from the year-ago period for Steel Authority of India (SAIL). Production of value added steel touched the best ever Q1 mark, at 1.28 mn t, a year-on-year growth of 4 percent. Across the company's various units, new projects worth around Rs 2,700 crore commenced operation betw
Tag: SAIL
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SAIL to complete Rs 38 bn project by FY15
By 2014-15, state-run steel maker plans to complete its proposed Rs 3,800 crore environment protection-related projects at its iron ore mines, media reports indicate. The projects, which is part of the over Rs 10,000-crore modernisation and expansion programme, includes improvement in ore processing for zero discharge, minimising generation of tailings, reduction in use of water and land
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SAIL seeks ore mining lease in 140 hectare area
In order to secure raw material for its Visvesvaraya Iron and Steel Plant at Bhadravathi, state-run steel maker SAIL wants to mine the 140 hectare of area in North-Eastern Block range in Bellary, Karnataka. The largest steel producer of the country has reportedly requested Karnataka government to fast-track the process of granting iron ore mining lease for the area. The company is said to consume more iron ore following the completion of the ongoing expansion
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Steel production capacity rises 36% to 90 mn t
Union Steel Minister Beni Prasad Verma informed that capacity of steel production in the country has risen from 66 million tonne (mn t) in 2009 to about 90 mn t in 2012, which is a 36 per cent growth. He said this during a meeting of the Parliamentary Consultative Committee attached to his ministry. Steel output in the country expanded 4.3 per cent in 2012, he informed members of the committee
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Shipping Corp struggles to improve its financials
To improve its financial status, the Shipping Corporation of India (SCI) has signed several MoUs with its public sector undertaking peers such as Coal India, ONGC, SAIL and Gail India. SCI has been striving to take advantage of the pacts. For now, its financials continue to be under stress. SCI is yet to form joint ventures with Coal India and Oil and Natural Gas Corporation which could have provided the firm with assured cargo and revenues. SCI has not acquired vessels yet for operation as per
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Consortium may finish prospecting work in 18 months
The prospecting work on the three iron ore blocks in Afghanistan's remote Hajigak region may be over within 18 months from the date of commencement of the job in the area. The Afghanistan Iron & Steel Company (Afisco), a consortium of Indian steel companies led by Steel Authority of India (SAIL), secured the contract to mine the block from the national government last year
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SAIL chief optimistic on steel demand in India
CS Verma, Chairman of state-run steel maker SAIL said the consumption demand for steel in India remains better than that in the western world and so, no private or public sector steel company has decided to either curb or abandon expansion plan. India's steel capacity remains just 10 per cent of China's with only of 80-82 million tonne. Per capita consumption in India is just per 55 kg vs 220 kg global aver
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SAIL conducts study for Rs 15 bn project
CS Verma, Chairman of SAIL informed that the company is conducting environment impact study for its Rs 1,500 crore iron ore nugget plant in Durgapur, which it plans to implement in a joint venture with Japanese steelmaker Kobe Steel. Verma said this will be the second such project in the world after USA. The JV agreement has been finalised, he told reporters. He said it would take five to six
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NMDC gets response from SAIL, RINL for stake sale
CS Verma, the acting Chairman of NMDC, said the expression of interest (EoI) floated by the firm for offering 50 percent stake in its proposed 3 million tone per annum (mn tpa) steel plant received response from only two companies. Steel Authority of India (SAIL) and Rastriya Inspat Nigam are the only two bidders for NMDC's 50 per cent stake in the upcoming steel plant in Chhattisgarh.
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India consumes marginally less steel during Apr-May
During April-May 2013, India consumed 11.69 million tonne (mn t) steel, a 0.8 per cent decline from 11.78 mn t steel consumed in the year-ago period. Data released by Joint Plant Committee, a body under the steel ministry shows. During the period, steel production grew 3.1 per cent to 13.03 mn t, led by higher output by SAIL and Tata Stee