Ban fiats, freezes and new levies are ensuring a drying up of operations and new investments, complain companies.
NMDC Ltd has decided to set up its second steel plant in Chhattisgarh and is in talks with two companies to form a joint venture. One of them is Tata Steel.
The sudden surge in raw material prices has forced steel companies abroad to raise prices considerably but Indian counterparts have been unable to do so at such a pace. This has eroded the premium that Indian steel makers enjoyed and they're actually selling at a discount to international prices.
The company's Rs 54,000-crore (Rs 54-billion) steel project in Orissa had run into trouble with the ministry over alleged violation of environment norms.
Vinod takes centrestage as Pramod stays away from deal; uncertainty over the latter's continuity on Ispat board.
The mining ministry's inordinate delay in giving approval to group firm Hindustan Zinc to buy London-based Anglo American's zinc mines has forced the company to route it through Sterlite.
Stable rise in demand, mega steel capacities on the anvil have resulted in the firms shifting up the value chain.
Essar Steel wants to partner with a foreign company to consolidate its position in the automobile steel market in India. The company, soon to be a 10-million tonne per annum manufacturer, has 20-25 per cent of the auto steel market. It does not wish to lose any of it to the recent joint ventures formed by various Indian steelmakers with Japanese ones.
Vedanta Aluminium is sourcing half of its bauxite requirement from Bharat Aluminium Company's mines.
National Aluminium Company (Nalco) has chalked out plans to enter the power business through the special purpose vehicle (SPV) route. The company plans to produce over 2000 MW by 2016.
Two O P Jindal group companies, JSW Steel and JSL Stainless, have entered into an agreement. JSL Stainless will produce coke for JSW Steel and the raw material to produce coke will be supplied by JSW.JSW Steel is promoted by Sajjan Jindal. His brother, Ratan Jindal, is managing director of JSL Stainless.
Orissa has attracted investments worth Rs 6 lakh crore (Rs 6 trillion) in the recent past.
They want the authorities to fulfill their security-related demands which include no duty in the mining area after sunset, increasing the number of security personnel and their presence in the workers' colony and in buses used to transport the workers. The operations have halted following a Naxalite attack on the site in which 10 CISF jawans and five Naxalites were killed. About 100 Nalco workers were held hostage by the ultras for over eight hours.
Even as aluminium maker Nalco plans to restart operations at its Panchpatmali bauxite mines in Koraput district on Thursday, the employees stay too scared to go back to work.
But will this move of BJD supremo and chief minister Naveen Patnaik help him to return to power for the third consecutive term? Or will his decision to sever 11 year old ties with BJP, which saw him at the head of a coalition government for last nine years, prove to be costly? This is the question that every voter in the state is asking.
The Anil Agarwal promoted Vedanta Aluminium (VAL) plans to invest a whopping Rs 60,000 crore in aluminium, alumina and power sector in Orissa by 2013.
Tata Steel has linked the progress of its mega steel projects in Orissa and Jharkhand to the pro-active support of the respective state governments.
There is a growing voice of supporters of major industrial projects in Orissa that have faced opposition from sections in this little-developed state.
Orissa, where the programme was already under a cloud after an NGO alleged false data were being entered on the state's NREGA website, is now uncovering more scams. A team of researchers led by economist Jean Dreze and Ritika Khera, which is doing a survey focussed mainly on the corruption in the programme in Orissa, recently dug out a doctored muster roll in Badhigam gram panchayat of Boudh district.
Public sector blue chip firm National Aluminium Company, the largest manufacturer and exporter of aluminium in the country, proposes to make a foray into wind power generation.
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