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
Tag: Tata Steel
Post
Post
Tata Steel MD welcomes budget 2013-14
HM Nerurkar, Managing Director of Tata Steel opined that the Union Budget 2013-14 made an attempt to achieve inclusive growth and a sustainable economy given the global economic scenario. Nerurkar welcomed the thrust given to the infrastructure industry through investment allowance of 15 per cent and various steps for mobilising funds for the gro
Post
Demand for steel expected to recover
According to media reports, the TATA Steel expects demand for steel to revive following the reform measures taken by the government and also the recent monetary policy easing by the Reserve Bank of India (RBI). The company feels that currently, demand for steel remains sluggish with many infrastructure projects that have achieved financial closure not taking off. He said that besides steel demand from the automobile sec
Post
Demand for steel expected to recover
According to media reports, the TATA Steel expects demand for steel to revive following the reform measures taken by the government and also the recent monetary policy easing by the Reserve Bank of India (RBI). The company feels that currently, demand for steel remains sluggish with many infrastructure projects that have achieved financial closure not taking off. He said that besides steel demand from the automobile sec
Post
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
Post
Tata Steel JV asked to secure forest nod for coal mine
Tata Steel and Adhunik Power & Natural Resource will have to secure forest approval for operating the Ganeshpur coalmine in Latehar, JharÂkhand, which was allocated to them for their thermal projects.The coal mine has a production capacity of four million tonne per annum (normative).
Post
Odisha CM unveils bus terminus at Keonjhar
The Rs 7 crore bus terminus built by Tata Steel at Keonjhar in Odisha was recently inaugurated by the state Chief Minister Naveen Patnaik. The state-of-the-art bus terminus was constructed over an area of 2.7 acre and is designed to accommodate 24 buses inside the bay and has provision for parking of four to six buses
Post
Tata Steel hopes to get temporary work permit soon
Tata Steel hopes to get the temporary working permit soon to resume mining at the chromite mine in Sukinda, Odisha. The company had to halt mining at the mine as its lease validity, which was valid for 20 years, expired on January 11. The mine has the capacity to produce 2.4 millio
Post
Adani reportedly finanlises deal to acquire Dhamra Port
At a recent meeting with L&T Chairman AM Naik and Tata GroupÂ’s new Chairman Cyrus Mistry, Adani Group Chairman Gautam Adani finalised the deal to acquire Dhamra Port Company (DPCL) in Odisha, reports suggest. During the meeting, the terms and conditions of the deal, which involves acquiring stakes of the construction major Larsen & Toubro (L&T) and Tata SteelÂ’s stakes in DPCL, was finalised
Post
Coking coal import set to rise
Somdeb Banerjee, a top official of Tata Steel for South Africa expects India's steel production capacity to rise threefold between 2010 and 2020 to 179 million ton a year. The increase in capacity may raise India's import of coal coal to at least 37 million ton in 2012-13 from 31.8 million ton in 2011-12, reports suggest. Reports also indicate that domestic coking coal ou