Worried by a spike in Chinese imports, the Indian Steel Association (ISA) plans to take up the matter with the government and seek measures to fix "trade distortions". Alok Sahay, secretary general of the group that represents the country's steel producers, said systemic changes were needed. "In order to take any trade measure, it takes a minimum of 15 months' time, due to prevalence of lesser duty rule in India, making India an easy target. "We are going to write to the government on this," he said.
This is the second major investment in Scotland by the global giant, following announcement of 8 million pounds investment at Dalzell plate rolling mill in August, 2010.
Ushering in reforms, Union Finance Minister Nirmala Sitharaman on Saturday proposed to open up the nuclear power sector for private players and announced a Rs 20,000 crore Nuclear Energy Mission for research in the field, with an aim to set up five small and modular reactors by 2033.
Even as it comes to terms with the land acquisition controversy in Nandigram and Singur, the CPI(M)-led West Bengal government has handed over the order for possession of 4,300 acres
"We have already signed the Memorandum of Understanding with the Indonesian government and are in constant dialogue with the governments in Mongolia, South Africa and Oman for setting up the 3-mtpa steel plant," SAIL Chairman C S Verma said.
The rural BPO centre will be established by the Tata Business Support Services -- the BPO wing and a wholly-owned subsidiary of Tata Sons -- in partnership with Tata Steel Rural Development Society -- a corporate NGO managed by the Tata Group for the last 60 years. To start with, it is expected to employ around 200 people. Sources close to the development said the company has already recruited the first batch of the executives for the BPO unit.
Jindal Steel and Power Ltd on Friday said it has won the development rights of 20 billion tonnes of iron ore reserves in Bolivia and will invest $2.3 billion over the next 10 years for mining and setting up a steel plant in the South American country
This action would affect approximately 3,500 employees over the indefinite period at US Steel's Keewatin, Detroit and St Louis plants, the company said. According to the company, due to continuous business review, analysis of market conditions and their impact on customers' orders, it had to take further steps to consolidate operations.
South Korean steel giant Posco is looking for new opportunities and has now teamed up with state-owned SAIL to set up an about Rs 150-billion (Rs 15,000 crore) steel plant in Jharkhand
There was an acceptable domestic performance in India but there continues to be concerns about the Europe business and that overshadows the local performance. The consolidated revenues for the Q2FY24 stood at Rs 55,682 crore with an operating profit of Rs 4,315 crore and an operating profit margin of 8 per cent.
The January-March quarter (Q4) results for 2024-25 (FY25) from the country's largest passenger vehicle (PV) maker, Maruti Suzuki India (MSIL), were a mixed bag, with revenues broadly in line but operating profit missing Street expectations. Given cost pressures, margins at the operating level were the lowest in the past seven quarters.
ArcelorMittal is likely to have to make permanent cuts of up to 10 per cent in its steelmaking capacity as the industry reels from the impact of the worst global recession in decades, industry observers have warned.
Mittal Steel is likely to sign within the next two months, an agreement with the Orissa government for setting up a steel plant at an investment of $7 billion.
The company was earlier hopeful of bringing the projects onstream by 2012. "Production will not start before 2014. The top reason is the economic downturn. The second reason is procedural delays," Vijay Kumar Bhatnagar, CEO, India operations, said. The ongoing economic slowdown has prompted steel producers worldwide to shelve new projects and scale down output as demand weakens from housing, automobiles and consumer durable sectors.
India Ratings expects long products demand growth to be sharp, supported by a demand push from the government-led infrastructure investments in affordable housing, railways, rural electrification and road networks.
Tata Steel signed agreements for supply of equipment worth Rs 1000 crore (Rs 10 billion) on Monday for its proposed six million tonne steel plant at Kalinga Nagar in Orissa.
India is planning to soon sign new and updated mineral pacts with about a dozen countries in Africa. The Ministry of Mines is in discussions with Cte d'Ivoire, Democratic Republic of the Congo (DRC), Madagascar, Malawi, Mali, Morocco, Mozambique, South Africa, Tanzania, Zambia and Zimbabwe, Business Standard has learnt. Negotiations are ongoing with around a dozen countries, and more will be added to the list soon.
The company was also in the process of preparing the vision document for the year 2015.
It plans to lower employment costs with the estimated reduction in employee numbers, about two-thirds of which are expected to be office-based white-collar roles - a majority expected at its Netherlands unit.
NatSteel Asia Pte Ltd (NSA), the Singapore-based subsidiary of Tata Steel, said on Thursday it has acquired two new steel-bar rolling plants in Vietnam for $41 million as part of strategy to expand in the Asia-Pacific.
Indian steel manufacturer Essar will invest $1.2 billion in a steel plant to be commissioned by the end of next year in Trinidad and Tobago.
Project opponents, led by Posco Pratirodha Sangram Samiti, the organisation spearheading the agitation against the South Korean company, held a massive rally and protest meeting on Saturday at Balitutha, entry point to the project site. People from the affected villages such as Dhinkia, Gobindpur, Nugaon and Gadkujang attended.
The Central Pollution Control Board has asked Tata Steel to submit the closure schedule of the battery at the earliest, minister of state for Steel A Sai Prathap said in a written reply to a question in the Lok Sabha. Coke oven battery is a plant where coking coal is converted into coke.
JSPL is under CBI lens for giving wrong information about its land, water supply and previous allocations to get coal block in Jan 2008.
Apart from being the most successful cases under the IBC, Bhushan Steel and Essar Steel are among the best steel assets in the country. They also ended up helping their lenders get back a significant chunk of the money while allowing Tata Steel to consolidate its position and giving the world's two largest steel makers - ArcelorMittal and Nippon Steel - a strong foothold in India. A significant contrast was the pace at which these two cases were resolved under the bankruptcy code. In the annals of the Insolvency and Bankruptcy Code (IBC), Essar Steel may go down in history as the most noticeable resolution with the world's largest steelmaker, ArcelorMittal, and the incumbent, Ruia family, locked in an intense battle spanning more than two years and ultimately resulting in full recovery of the principal amount for the financial creditors.
It is no coincidence that most of the willing land sellers are non-tribals who own plots to the south-west of Torpa on the road leading to the town of Simdega, where the highway crosses the Koel and Karo rivers.
Russian forces had occupied Ruski Tyshky for two months before being pushed back by Ukrainian troops three weeks ago.
The Uttar Pradesh government is taking comprehensive measures to ensure the Ganga River is "dip-safe" during the Maha Kumbh, a massive religious gathering. This includes daily water testing, a 200-km temporary drainage system for greywater, and state-of-the-art technology to manage human waste. Authorities are also emphasizing the importance of keeping the river clean by removing pooja waste and encouraging the use of reusable items.
'He was sought after because he delivered.' Ishita Ayan Dutt profiles Tata Steel's new boss.
Fundraising by Indian corporates through equity and debt reached all-time high in the calendar year 2024, according to primedatabase.com. The overall public equity fundraising stood at Rs 3.7 trillion in 2024, a rise of 159 per cent from Rs 1.4 trillion in 2023. If Rights Issues of Rs 25,973 crore were to be added, the overall equity fundraising would touch nearly Rs 4 trillion in 2024.
If you want to see what India should be like and how Indians should live, you have to see Bhilai, says Colonel K Thammayya Udupa (retd).
Tata Steel would make a bid for buying the Indian iron ore assets of one of Britain's largest independent steel trading companies Stemcor.
Tata Steel has a very British problem. The performance of Europe dragged the steel major's October-December (Q3FY23) performance with the UK business accounting for a major part of the operating loss; on the bottom line, the overhang of the British Steel Pension Scheme (BSPS) showed. And a nearly three-year discussion with the UK government on a support package for a green transition resulted in an offer that fell short of the ask.
How much do you know about the Vibrant Gujarat Global Summit 2024?
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.
Banksy fans are flocking to the Welsh town of Port Talbot to see a new mural by the elusive British street artist depicting a child covered in snow that is in fact ash from a burning bin. Now metal barriers and traffic wardens have been brought in to manage crowds around the new Bansky artwork that was painted on a Welsh garage.
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