Steel Authority of India Limited and Posco are in discussions to set up a 1.5 million tonne integrated plant in Bokaro to produce high grade steel from low-grade iron ore and non-coking coal by using the world's third largest steel company's FINEX Technology.
The leaders of Communist Party of India, Communist Party of India (Marxist), Forward Bloc, Rashtriya Janata Dal and Samajwadi Party along with their supporters held a rally on Mahatma Gandhi Road before marching towards the state Secretariat.
In corporate India where family disputes have become far too common, the Miglanis work as a team.
Rejecting Orissa government's formula of excluding 300 acres of private land from the proposed Posco site area near Paradip, the Communist Party of India (CPI) on Friday demanded that the entire site be shifted elsewhere and an official statement made about its overall impact on the state.
Korean major considers offering locals an export market in addition to compensation.
South Korean steel major Posco on Friday said the proposed 12 million tonne steel plant in Orissa would result in an economic impact of Rs 12,33,208 crore
The Orissa government is making all efforts to remove hurdles for establishing the Rs 52,000 crore (Rs 520 billion) steel project by South Korean giant Posco near Paradip, which is mired by displacement woes.
Top Indian wrestlers have returned to Jantar Mantar in New Delhi to continue their protest
Issue came up for discussions between President Lee Myung-bak and visiting Indian President Pratibha Patil.
South Korean steel giant Posco said on Wednesday that it had signed the memorandum of understanding with the Orissa government for a $12 billion Indian steel project.\n\n
The trouble is largest FDI projects in India have had a tragic history.
"We have no idea what is happening in reality shows when children participate. These kids are below 15 years. These reality shows are harming kids' psyche and their future, too. If they want to continue, then there has to be proper guidelines laid down by the government for them to follow."
The largest-ever foreign investment proposed in India currently lies in no man's land, hobbled by environmental concerns and the inevitable disagreements over the acquisition of land for the enterprise.
Posco was cleared because it is India's largest FDI project and the South Korean government lobbied for it. Such things don't happen in democracies which respect the rule of law, says Praful Bidwai.
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.
Let's take a look at the protests against the Posco steel plant in Orissa.
China, the Ukraine crisis and Quad will dominate the discussions, observes Dr Rajaram Panda.
The fourth finance ministerial meeting, to be held in New Delhi, will have Finance Minister P Chidambaram from the Indian side and Hyun Oh-seok, Deputy Prime Minister and minister of strategy and finance, from South Korea.
Because he knows Odisha; and Odisha knows him, observes Aditi Phadnis.
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.
The need for larger investment in infrastructure that is the biggest shortcoming, says A V Rajwade.
The Environment Ministry was hit by controversies in the year gone by which saw clearances for two big ticket projects -- POSCO and Lavasa -- and exit of Jairam Ramesh as the green minister.
Modi is keen to restart big projects which are stuck for various reasons.
The story of land allotment in Mahuva in Saurashtra, Gujarat, is sensational even in this season of scams because here the government allotted its land to a private party, Nirma, and the place allotted was actually a reservoir!
The Jharkhand government has ruled out the transfer of any portion of surplus land from Bokaro Steel Plant of state-run Steel Authority of India (SAIL) to private investors to set up industries.
Industry experts say that even though international companies face problems in setting up new projects on their own, given the problems associated with acquiring land and rehabilitating the displaced people, their keenness to become a part of the growing Indian market remains intact.
Demand in 2012 was anticipated as 89 million tonnes; the rest of the capacity would help make India a major exporter of steel, rather than being a major exporter of iron-ore without any value-addition. That was then.
Bajaj Industries chairman Rahul Bajaj on Thursday said the government should change the archaic land acquisition rules in India to deal with contentious issues like Singur.
An analysis of the financial performance of nine leading global companies during January-June 2009 showed that only three of them registered profits, with SAIL's profit being the highest.
M Veerappa Moily's takeover of the environment & forests ministry last month, it appears, is turning out to be a blessing for Coal India Ltd (CIL), the world's largest coal producer.
OSCO E&C said Adani had asked it to halt its design work as of July 16, with tentative plans to resume work in early October.
In the past four years, there has been some progress in allocation of iron ore and coal mine--the two key raw materials for steelmaking. The memoranda of understanding for the mineral rich states of Jharkhand, Orissa and Chhattisgarh started pouring in from 2005. Since then, many steel companies, JSW Steel, Tata Steel, Essar Steel, Tata Metaliks, and even ArcelorMittal have bagged either coal or prospecting licence for iron ore.
In another bid to mobilise funds for the cash-strapped realty major Unitech, promoter Ramesh Chandra and his family are in talks with leading Indian and global steel giants to sell their 25 per cent stake in Bhubaneswar-headquartered Orissa Sponge Iron & Steel Ltd.Investment banks said the Chandras, who bought the stake sometime in 2006 and 2007, are in talks with Korean steel giant Posco and Delhi-based Bhushan Steel, which owns 6 per cent in the firm.
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