With the government looking to divest loss-making steel assets, significant interest from secondary players is most likely this time apart from the anticipated list of large integrated primary steel producers, said industry experts. Rashtriya Ispat Nigam Limited (RINL), Neelachal Ispat Nigam Ltd (NINL), NMDC Integrated Steel Plant (NISP)-Nagarnar, Ferro Scrap Nigam Ltd and three units of Steel Authority of India (SAIL) - Alloy Steels Plant, Durgapur; Visvesvaraya Iron and Steel Plant, Bhadravati; and Salem Steel Plant, Salem - constitute the divestment list. All the three units of SAIL have been loss-making for more than five years.
Since 2015, Odisha has been embroiled in a bitter battle over the origin of the delicacy with West Bengal, which had in 2017 secured the GI tag for 'Banglar Rasogolla'.
'Interim Budget has ignited the entrepreneurial spirit.'
Naveen Patnaik is known as an "absentee landlord" who needs bureaucrats like Pandian to run his government.
As the train which started from Howrah slowed down as a mark of caution running across freshly repaired tracks, a few muttered 'Jagannath, Jagannath', the name of the presiding deity of Puri, the destination of the train, but most were too stunned to speak.
The Lok Sabha witnessed a display of linguistic diversity on Monday, with the newly-elected MPs taking their oaths in English and Indian languages, including Sanskrit, Hindi, Dogri, Bengali, Assamese and Odia.
With a robust outlook for mineral-led growth in India, Anil Agarwal-led Vedanta Limited is looking to invest up to $20 billion across its businesses, which includes doubling of silver production and steel capacities. In a virtual press conference had last month, Agarwal said the company planned a capex of $5 billion over a period of three years. The company has not given a timeline for $20-billion investment.
Corporate India is starting to step up its capital expenditure plans amid government incentives and signs of rising demand, company executives and analysts have indicated. This coincides with the Reserve Bank of India (RBI) recently citing a double-digit growth in private capital expenditure. Healthy balance sheets of banks and corporates, along with increasing capacity utilisation and improving business sentiment, are contributing to a favourable environment for sustained growth in private sector investments, the RBI said in its policy last week.
Adani Ports and Special Economic Zone Ltd (APSEZ) on Tuesday announced the acquisition of a 95 per cent stake in Gopalpur Ports in Odisha from Shapoorji Pallonji Group and Orissa Stevedores Ltd at an equity value of Rs 1,349 crore. In Gopalpur Ports, Shapoorji Pallonji Group (SP Group) firm SP Port Maintenance Pvt Ltd has a 56 per cent stake and Orissa Stevedores Ltd (OSL) has a 44 per cent stake. Gopalpur Port is an all-weather deep-water berthing port with a capacity of 20 million tonnes per annum (MTPA) situated in Ganjam district of Odisha.
The Korean major, which is not able to set up the unit for the past seven years because of land acquisition issues and agitation by the locals, has revised its land requirement to 2,700 acres from the earlier 4,000 acres.
The state government had recommended prospecting licence in favour of Posco-India thrice, but was unable to get them through.
But he is actively pursuing greenfield steel plants in Karnataka and Jharkhand; ultimately, only one of these might come up.
Land acquisition delay holding up mega projects, admits minister
Firm terms lenders' move to appoint monitoring agency 'unwarranted'.
Congress president Mallikarjun Kharge on Monday expressed apprehension that the 2024 Lok Sabha elections would be the last opportunity for the people to save democracy, as Prime Minister Narendra Modi might prefer dictatorship in case his party wins the upcoming polls.
The verdict could force steelmakers to cut output or import expensive iron ore.
Rescuers at the under-construction tunnel collapse site in Uttarkashi on Tuesday initiated the process of inserting large-diameter mild steel pipes through the rubble using an auger machine to rescue the 40 workers trapped for two days now, officials said.
'The concept of an MP IPL team is the brainchild of Kamal Nath.' 'If the Congress government comes to power in the state, he will assemble an IPL team for MP with the assistance of his business contacts.'
The much-delayed $12 billion Posco steel project in Odisha is set to be operational in the next few weeks and granting of mining concession to the South Korean firm was in an advanced stage of processing, Prime Minister Manmohan Singh said on Thursday.
Tata Steel would make a bid for buying the Indian iron ore assets of one of Britain's largest independent steel trading companies Stemcor.
The company got possession of land in Karnataka for Rs 30,000-crore steel plant, six years after it announced grand India plans.
Stocks of public sector undertakings (PSUs) have been on fire in the past year as investors cheered an improvement in key operating metrics and embraced counters of these state-owned enterprises, analysts suggest. The S&P BSE PSU Index has gained over 90 per cent in the past year, rising much higher than the S&P BSE Sensex, which has rose nearly 19 per cent during this period, according to ACE Equity data. The BSE PSU Index, reports show, has delivered a compound annual growth rate (CAGR) of 28 per cent (including dividends reinvestments) over five years and risen by almost 60 per cent in the past year.
Forest land measuring 1838.79 hectares in Odisha has been diverted for 15 industrial projects in the state between 2004 and 2013.
Tata Steel's margins may remain under pressure in FY15.
Tata Steel's domestic operations have been its cash cow.
Amid tension in proposed Posco plant area where three anti-project activists were killed on Saturday night while allegedly making bombs, Odisha government on Sunday resumed land acquisition for the mega steel project.
Almost all major metal and mining firms would be affected by the Supreme Court ruling canceling 214 coal blocks, but Naveen Jindal's JSPL and Aditya Birla Group's Hindalco would be among the worst hit, analysts said.
Is it inconsistency in policy, or the lack of robust support?
New products being designed mainly for auto, oil & gas sectors; firm is raising Kalinganagar plant capacity from three mtpa to eight mtpa
A bleak demand outlook for steel in the domestic as well as global market is also another reason Tata Steel may be looking to have additional liquidity as margins are expected to take a hit in the coming quarters.
The development comes in the wake of a high-level panel formed to address issues impeding mega projects in the steel sector, reviewing the stalled projects this month.
Pursuit of raw material had landed Bhushan Steel in the coal block allocation scam.
The Korean company's proposed 12 million tonne per annum project at Jagatsinghpur district in Odisha is stalled for about a decade.
The new machine, that landed at the Chinyalisaur helipad, over 30 kilometres from the tunnel on the Chardham route, is being put into service, amid apprehension by workers at the site on the progress of the multi-agency rescue operations.
Needs funds for Odisha plant expansion, to cut high debt.
Land acquisition for the South Korean steel major Posco's proposed steel plant near Paradip was completed on Thursday with the Odisha government demolishing 25 more betel vines at Gobindpur village, official sources said.
A large chunk of the Rs 8.8 lakh crore of investments the Patnaik government had attracted is in uncertain territory.
However, speculation remained rife that the meeting was part of Banerjee's plan to form an opposition front with regional players minus the Congress.
The Coal Ministry has issued show-cause to eight firms including Hindalco Industries and Mahanadi Coalfields, and sought explanation from five firms for delays in commencing production from mines allocated to them.
Ruias to sell Essar Steel stake to strategic partners.
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