Some feel that Tata Steel has put these assets on the block only after exhausting all the options.
Commenting on the development, H K Patil, minister in charge for Gadag district in the Karnataka government, said the people of the area will be happy with Posco's pullout.
CII, in a communication with the state industries department, cited it had a packed schedule for the year and the dates frozen for the Make in Odisha conclave clashed with a major national summit hosted by the industry body.
The first train on the section where the accident happened in Balasore started its journey at around 10.40 pm on Sunday, 51 hours after the horrific crash which killed 275 people, officials said.
Stung by the crisis arising out of the Syndicate Bank bribery case, lenders have gone into a fire-fighting mode to avoid fresh bad loans from their exposure to Bhushan Steel, one of the most indebted steel companies in the country.
Naxal violence in Orissa has also put several investment proposals in jeopardy.
On seeing them, Gandhi got off his vehicle, walked up to them and shook hands with several people in the crowd.
The labourers are safe, and oxygen, electricity, medicines, food items and water are being constantly supplied to them through pipes, they said.
Posco will have to bid for an iron ore licence to feed its plant.
Jindal Steel and Power Ltd has shelved a $10 billion coal-to-diesel project, its chairman told Reuters, becoming the first big casualty of a court decision to scrap coalfields allocated to private firms since 1993.
The Cabinet Committee on Economic Affairs on Wednesday approved seven multi-tracking projects of Indian Railways at an estimated cost of around Rs 32,500 crore, Union minister Ashwini Vaishnaw said. The proposed projects, which will be fully funded by the Centre, will help increase the existing line capacity, smoothen train operations, reduce congestion and facilitate ease of travelling and transportation. The projects covering 35 districts in nine states -- Uttar Pradesh, Bihar, Telangana, Andhra Pradesh, Maharashtra, Gujarat, Odisha, Jharkhand and West Bengal -- will increase the existing network of Indian Railways by 2,339 km and provide employment of an estimated 7.06 crore man-days to the people of the states.
Analysts sceptical whether company will sustain rise in operating profits.
Ahmedabad-based Adani Group is said to be the frontrunner to buy out both Tata Steel and Larsen & Toubro's stake in Dhamra.
Tata Steel is fine-tuning strategies to enhance revenues.
The government is keen to amend the MMDR Act for transparency in the mining sector.
A squad of about 300 special Central Industrial Security Force commandos has taken over the security of a large Tata Steel manufacturing facility in coastal Odisha, making it the 7th private sector concern in the country to get armed cover by the paramilitary force to ward off terror threats.
Ridiculing Odisha government's claim that land acquisition for the proposed Posco project near Paradip was complete, CPI-backed Posco Pratirodh Sangram Samiti (PPSS) said demolition of betel vines did not mean taking over possession of farmers' land.
Patnaik's image of a "clean and honest" politician is widely regarded as the reason why he was able to withstand a spirited challenge thrown by the Bharatiya Janata Party, analysts say of perhaps the lone regional satrap who cannot even properly speak the language of his native state.
This amendment is proposed to be made retrospectively effective from FY16 onwards.
Talking to PTI Amarjeet Kaur, General Secretary of All India Trade Union Congress (AITUC), said, "The two-day nationwide strike by the joint forum of central trade unions has begun this morning". About the impact of the agitation, she said that the entire coal belt (mining area) is affected in Jharkhand, Chhattisgarh and Madhya Pradesh. She also said that there is a good response in industrial areas of Assam, Haryana, Delhi, West Bengal, Telangana, Kerala, Tamil Nadu, Karnataka, Bihar, Punjab, Rajasthan, Goa, Andhra Pradesh and Odisha. The AITUC official noted that the banks and insurance sectors are affected all over India, while steel and oil sectors are also seeing partial impact due to the strike. Kaur said that she has got preliminary reports that markets are closed in Odisha.
The company had signed a memorandum of understanding with the state government to set up the plant at an investment of Rs 30,000 crore (Rs 300 billion).
Essar group on Friday announced the signing of a USD 2.4 billion (Rs 19,000 crore) deal to sell certain ports and power infrastructure to ArcelorMittal Nippon Steel in one of the largest post-pandemic merger and acquisition deals in India. In a statement, the Ruia-run firm said the deal also envisages a 50-50 joint venture between Essar and ArcelorMittal for building a 4 million tonnes a year LNG import terminal at Hazira in Gujarat. Without giving details, it only identified certain ports and power infrastructure that are primarily captive to operations of the Hazira steel plant, which was acquired by ArcelorMittal Nippon Steel (AM/NS) in 2018-19, as part of the deal.
'The second generation of migrant labourers is not enthusiastic about continuing in this field.' 'The parents of the next generation do not wish their children to be part of this trade.'
Vedanta group chairman, Anil Agarwal, 69, is well known for his business journey from a scrap dealer from Bihar to a London-based globe-girdling metal and oil and gas conglomerate with revenues of $19 billion. Now his abilities to keep his group from over-leveraging itself will be put to the test. Over the years, Agarwal, now based in London, set up the conglomerate via acquiring iron ore producer Sesa Goa, Cairn's oil producing assets in India, and Electrosteel Steel.
'A microcosm of India, inclusive and welcoming'. For years, Pragati Maidan was the centre of Delhi's social life.
Both were rescued from the Shalimar-Chennai Central Coromandel Express that derailed near Bahanaga Bazar Station on June 2 that had claimed 275 lives and left around 1,200 injured.
In the domestic market, the Tata Group has lost ground in the passenger car business.
Naveenbabu turned 75 last October and there have been rumours of ill health, which he denied last Friday.
There were many people who wanted to seek favours from her by offering lakhs and crores of rupees even through her family members when she was Odisha's transport minister. She never allowed any kind of corrupt practices to touch her department officials, family members or the supporters who have stood by her.
JSPL, Tata Power, Monnet Power, Jindal Photo in the dock.
India is in a much better position to deal with the challenges related to growth and inflation, said Sanjiv Bajaj, president of industry body CII. According to official figures, India's retail inflation continues to remain above the Reserve Bank's tolerance level of 6 per cent since January, while the economic growth in the first quarter of the fiscal was 13.5 per cent, lower than the central bank's estimate of 16.2 per cent. "I don't want to say we don't have our own challenges with growth, with inflation but we are in a much better position and credit must go to everybody including the central and state governments.
The extended range of the missile which is part of the Strategic Forces Command will give a variety of options to the planners during times of conflict.
Unable to get a favourable response from the police personnel, the crowd manhandled them and pelted them with stones, the officer said. The protesters also uprooted the barricades that were put up around the containment zones and vandalised a police control room, he said. As the agitators burnt tyres in the area, some portions of the bamboo barricades caught fire. At least a dozen policemen and a journalist covering the incident suffered injuries in the attack. All of them were hospitalised.
Lockdown prevents deceased woman's body from reaching family in Odisha.
Carrying their baggage, thousands of people are leaving the port town of Paradip to escape the wrath of the severe cyclonic storm 'Phailin' which is expected to make landfall in Odisha in less than 24 hours.
'A lot of people -- whether farmers, students or businessmen -- think when they take a loan, that everything will go well and they will pay back.' 'Sometimes, things don't go well.'
Shyam Metalics and Energy (SMEL) will end the over two-month drought in the initial public offering (IPO) market. The steelmaker will launch its Rs 909-crore offering soon. SMEL has pruned its IPO size from Rs 1,107 crore, with the promoters deciding to offload shares worth Rs 252 crore as against Rs 452 crore planned earlier. The company has priced its IPO between Rs 303 to 306 per share.
A joint forum of central trade unions has given a call for a nationwide strike on March 28 and 29 to protest against the government policies affecting workers, farmers, and people.
The government's revalidation of the environment clearance for its steel plant in Odisha may not go far and it may still be years before the project takes off.
Nitish Kumar has to make an existential choice: Between governance and politics, argues Aditi Phadnis.
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