At least 13 attempts were made earlier at modernising.
"'His mantra was simple yet profound: Be number one or be ready to be wiped out. There's nothing in between," he used to say and it was a reminder for all to always aim high, to push boundaries, and to strive for excellence.
Sajjan Jindal-led JSW Steel today said it may have to shut down its 10 million tonnes per annum (MTPA) Vijayanagar plant in Karnataka due to a continuous shortage of iron ore.
Being the basic material for development of economic and social infrastructure, steel is used for producing capital goods as well as final consumption goods.
Steel producers have already increased prices by 3-5 per cent, which will consequently hit the construction and automobile industries.
Steel tycoon Lakshmi Niwas Mittal has intensified efforts to acquire his younger brother Pramod Mittal's ailing Kremikovtzi steel plant in Bulgaria, even as workers of the plant continued to protest over delayed wages. "Around 1,000 workers at Kremikovtzi continued their protests on Thursday over delayed salaries and food allowance payments," the Steel Business Briefing reported quoting a spokesman for the trade union Militzi.
Welspun Maxsteel, wholly owned subsidiary of the $3-billion Welspun Group, has kept its proposed steel factory plan in Maharashtra on hold due to the shortage of raw material and energy. The delay in environment clearances has also forced the company to keep the project in abeyance for now.
Files related to the organisation of a public hearing for environment and forest clearance for Tata Steel's proposed 5-million-tonne integrated steel plant in Bastar are "missing". The district administration said it has not received the documents that were sent from the state capital a month ago.
Among Sensex firms, Eternal, Tata Motors, State Bank of India, Adani Ports, NTPC, IndusInd Bank, Bajaj Finance, Asian Paints, Axis Bank and Sun Pharma were the major losers. Bharti Airtel, Tata Steel, Mahindra & Mahindra, Hindustan Unilever, Nestle and Maruti were among the gainers.
'He asserted in his usual jovial style that he was not an MBA like his audience at IIM-Ahmedabad but perhaps had an even better business degree: MBB'. 'He went on to explain to his perplexed, blue chip B-School audience that MBB stood for "Marwadi by birth"!' Shivanand Kanavi salutes Shashi Ruia, co-founder of the Essar group who passed into the ages on November 25, 2024 in Mumbai.
The mission has proposed pilot projects for replacing fossil fuels and fossil fuel-based feedstocks with Green Hydrogen and its derivatives.
State-owned BHEL on Friday said it is in talks with SAIL and Vizag Steel to tie up for manufacturing high grade steel, while Korean steel maker Posco may join the proposed joint venture company as a technology partner.
Essar Global on Wednesday announced the acquisition of Minnesota Steel, a US-based privately held company with iron ore reserves of 1.4 billion tonne, for an undisclosed amount.
Steel tycoon Lakshmi N Mittal's move to revive and take over the sick steel plant of his brother, Pramod Mittal, in Bulgaria is facing hurdles after a major trade union representing over 2,000 workers raised its opposition.
After struggling to acquire land for a steel plant in Orissa since 2005, Korean steel giant Pohang Iron and Steel Company (Posco) has found a way of gaining a foothold in India. It has agreed in principle to tie up with state-owned Steel Authority of India Ltd for a steel project that is likely to cost upwards of Rs 15,000 crore.
South Korean steel major Posco will build the $12 billion plant in Orissa in three phases and hopes to start work on four million tonne (MT) first phase soon after the land is transferred to it.
'It can position itself as a China Plus One solution, fulfilling the demands of developed economies.'
The Orissa government has said that it fully supports the multi-billion steel project from global steel maker Posco, despite opposition from local people.
Tata Steel would expand the capacity of its Jamshedpur plant from five million tonne per annum to 10 million tonne by 2009-10, a company official said on Tuesday.
Angry villagers of the Khuti and Gumla districts in Jharkhand are protesting against the transfer of land to steel giant Arcelor Mittal for a proposed steel project.
Earlier, Trump has already talked about slapping "100 per cent tariffs" on the BRICS grouping, a bloc that includes India as well.
State exchequer lost Rs 325 crore, says Lokayukta.
Environment ministry has given its go-ahead to POSCO's planned steel plant in the country, but has asked it to spend on "social commitments", a company spokesman said, raising the project's cost by $600 million to $12.6 billion.
The British government has been under pressure to help a sale process go through after Tata said it would sell its British business.
Indian family-run business houses have in recent years seen ugly public spats between owners over control. But metals-to-ports conglomerate Essar's Ruia family seems to be an exception. Three generations of the Ruia family - founder brother Shashi and Ravi Ruia, their children and grandchildren - continue to live under one roof and jointly run the business empire.
The Federation of Indian Mineral Industries has strongly objected to Indian steel companies' policy of selling surplus iron ore in the domestic market and crying for a ban on iron ore export to meet shortage of the commodity.
"There is a slight deferral for some time (on the commencement of construction work) till the economic situation improves," JSW Steel Vice-Chairman and MD Sajjan Jindal said. Faced with a liquidity crunch, JSW Steel had earlier said it was cutting its proposed investment by nearly one-third to about Rs 4,000 crore for the first phase of the Rs 35,000 crore mega steel project in West Bengal.
It was August 2007. Tata Steel was turning 100. Jamshedpur, its hometown, had an air of celebration. The line-up for the special event included the launch of Air Deccan's commercial flight connecting Kolkata and Jamshedpur, and release of Russi Lala's new book, Romance of Tata Steel. There was also the screening of The Spirit of Steel, a 20-minute documentary directed by Zafar Hai showcasing Tata Steel's legacy, and a corporate anthem penned by Javed Akhtar and composed by Shankar, Ehsaan and Loy.
'Ratan had the quality that JRD and Russi Mody had -- they could walk with kings and never lose the common touch.'
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.
ArcelorMittal is spending $5bn to double the output of its plant in Kazakhstan in a further expression of confidence by the world's biggest steelmaker in the likelihood of robust economic growth outside the main developed regions. Some $1.2bn of the investment is geared to improving health and safety at the steel plant in Temirtau and associated coal and iron ore mines.
© 2026 Rediff.com - Advertise with us - Disclaimer - Privacy Policy - Sitemap - Feedback - About us - Terms of use - Grievances