West Bengal, which has seen many violent protests against land acquisition in the country, is now set to get another exemplary rehabilitation package for land-losers. After the free shares by JSW Bengal Steel, now Bhushan Steel is going one step ahead to give free land to land-losers as a part of its rehabilitation and resettlement (R&R) package. Sources said the R&R package has been submitted to the West Bengal Industrial Development Corporation (WBIDC).
A day after Minister for Steel, Chemicals and Fertiliser Ram Vilas Paswan told Parliament that steel prices would come down by Rs 500 a tonne on account of the 2 percentage point reduction in Cenvat, makers of flat and long products quietly raised prices by Rs 1,500 to Rs 3,000 a tonne on March 4.
Tata Steel's greenfield projects in Jharkhand, Orissa and Chhattisgarh have been delayed by about 12 to 16 months due to issues over land acquisition and resettlement, the company's executives said.
Token rollback will only help middlemen, complain large producers.
The dissent against the Tata Motors Rs 1 lakh car project at Singur appears to be finally ebbing with the disputed land being reduced to 120 acres vis--vis the earlier level of 330 acres.
Adding to its list of Ford, Maruti, Hyundai, Toyota, Tata Steel now boasts of Nissan and Volkswagen as buyers of Tata Steel.
The world's sixth largest steelmaking group, which has been stepping up its raw material security at a frenetic pace, has 300 million tonnes of iron ore reserves in India.
Mega greenfield steel projects announced in the country are set to add more than 100 million ton of capacity, but land acquisition activity for only 16 million ton has begun.
The group has earmarked over Rs 4,000 crore (Rs 40 billion) to acquire coal mines in foreign countries.
Nandigram may have turned into a war zone once more but the industry feels that the issue is national. Despite the current crisis being a turf war between the political parties, the genesis of the issue is land acquisition for a chemical hub project. Harsh K Jha, president, Indian Chamber of Commerce and MD of Tata Metaliks, said Nandigram per se may be a state issue but it has affected the investment climate and land acquisition across the country.
The top slots at three Tata companies -- Tata Motors, Tata Steel and Tata Consultancy Services -- will be up for grabs in two years with incumbents Ravi Kant, B Muthuraman and S Ramadorai due to retire in 2009.
Corus, which was acquired by Tata Steel for 6.2 billion in the beginning of this year, is eyeing global network alliances in automotive steel, as it aims to build a strong position in the international market.
Corus, which was acquired by Tata Steel for 6.2 billion pounds in the beginning of this year, is eyeing global network alliances in automotive steel, as it aims to build a strong position in the international market.
State Industry Minister Nirupam Sen, in his first public address in this area since Tata Motors chose it as the site of its new car plant in May 2006, said many companies were poised to follow Tata's lead in setting up shop in Singur.
NMDC pitted against Tatas, Essar on Bailadila deposits.
The Indian steel industry is poised to witness an investment of more than Rs 5 lakh crore (Rs billion), which is over six times the total money ploughed into the sector since independence.
Korean major considers offering locals an export market in addition to compensation.
Announcement for the Rs 4,000-crore acquisition likely today.
Britannia Industries, the country's top biscuit maker, has taken the income tax department, Kolkata, to court after it received a show-cause notice asking it to explain the withdrawal of funds from the employees' pension fund in 2003.
At a time when instability in the US leveraged buyout (LBO) market is making world equities markets jittery, JSW Steel is planning a leveraged buyout of a North American steel company.
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