While the Trinamool government, led by Chief Minister Mamata Banerjee, tried its best to attract investors, including from Singapore, not much headway could be made.
ArcelorMittal could be interested in Bhushan Steel or Essar Steel, two of the five steel companies referred by RBI for insolvency proceedings.
South Korean steelmaker Posco's project in Orissa is on track and issues related to rehabilitation of people would be resolved soon to expedite the pace of its 12-million-tonne steel plant, the state's top official said on Tuesday. He said the case for recommendation of lease to Posco was being monitored.
Videocon group has signed an agreement with West Bengal government to set up a steel plant and a power project in the state with total investment of about Rs 15,000 crore.Videocon, which already has interests in oil and gas, plans to establish a three million tonne steel plant and a 1,200 MW thermal power project in Asansol-Durgapur area in Burdwan district.
Here are other gas leaks that made headlines in the last few years:
In the first two months of the current fiscal, Indian exports of finished steel reportedly grew by almost 76 per cent on a YoY basis and China alone accounted for close to 60 per cent of the increase.
The fire broke out in an area near the Visakhapatnam Container Terminal and an Indian Oil Corporation facility where fishing boats were anchored.
Here stood a man who embodied the legacy of whatever Brand Tata stood for, embellished it, and departed into the long night, leaving the brand legacy for others to further enrich, notes R Gopalakrishnan.
This delay was a result of controversies over a 15 per cent holding by Hutchison-Essar Managing Director Asim Ghosh, healthcare major Max's Analjit Singh and financial institution IDFC.
In the domestic segment, demand is currently led by rural markets, oil and gas, LPG and B2C segments like roofing and sheeting.
Tata Steel delivered one of its best financial performances ever in the third quarter of the current financial year, and surpassed its deleveraging target of $1 billion. In an interview, Koushik Chatterjee, executive director and chief financial officer, Tata Steel, tells Ishita Ayan Dutt that the company will continue to focus on deleveraging but profitable and value-added growth will be equally important.
'I think some of us, like Mukesh Ambani, myself and those of us who head industrial units, ought to really focus on what we can really do to make the world a safer place, maybe 50 or 100 years from now.' 'For instance, how can we deal with climate change and global warming, right now?' 'The effects of it may not be felt now; in fact, we may pay a price for it today, but it will help the generations to follow.'
Severe skilled, unskilled shortage threatens to pull emergency brakes on India's industrial engine.
NMDC reported a strong standalone revenue at Rs 5,410 crore, rising 45 per cent year-on-year (Y-o-Y) and 35 per cent quarter-on-quarter (Q-o-q) in line with consensus. Iron ore sales at about 11.4 million tonnes (MT) grew 18.9 per cent Y-o-Y (19 per cent Q-o-Q). Realisation stood at Rs 4,679 per tonne, higher by 22 per cent Y-o-Y (12.9 per cent Q-o-Q).
The steel sector, which has spent a lot of money to tap the automobile segment, is nervous on its investments.
Some feel that Tata Steel has put these assets on the block only after exhausting all the options.
The steelmaker's India basket grew after Tata Steel completed its acquisition of Bhushan Steel under the Insolvency and Bankruptcy Code process and its subsidiary, Tata Sponge, acquired Usha Martin.
When the landslide hit, Sruthi's house was washed away, along with its inhabitants. She lost her entire family and some relatives. All she had left for a close confidante was her fiance Jenson. Days after the landslide and the loss of her family, Jenson died in a road accident that also left Sruthi with serious injuries. News of the accident and Sruthi's backdrop as the lone surviving member of a family wiped out in the July landslide, was picked up by the media, and people rushed to help.
The Vedanta Group is aiming to invest $20 billion across all its businesses in India over the next four years, its chairman Anil Agarwal said on Wednesday. The group will sell the steel business only at the right price, and is committed to continue running it if it does not get the right price, Agarwal told PTI on the sidelines of a company event. "At the moment, we have a plan to invest $20 billion across sectors in four years time," Agarwal said.
We asked you to share your 2 States stories and we've been inundated with your responses. Aparna Chandra shares hers:
'The UK is more of a structural problem, and that's why we're doing the restructuring.'
In corporate India where family disputes have become far too common, the Miglanis work as a team.
Tata Steel's arm here said it had got $130 million as final settlement from the consortium of global steel buyers which had prematurely terminated, in May 2009, a 10-year purchase contract.
According to an Andhra government statement, Naidu 'reposed confidence' in the PM's leadership.
A senior official of a private steel plant died after his vehicle was set afire by some persons outside the factory at Titlagarh, in Orissa on Thursday, police said.
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.
Four units of Tata Iron and Steel company have been adjudged winners of the 'TPM Excellence Award 2004 by the Japan Institute of Plant Maintenance.
But he is actively pursuing greenfield steel plants in Karnataka and Jharkhand; ultimately, only one of these might come up.
Global steel giant ArcelorMittal is set to relocate its plant proposed in Khunti-Gumla to Bokaro district in the state mainly on account of land acquisition problems
Steel magnate L N Mittal on Thursday proposed setting up a Rs 30,000 crore (Rs 300 billion) integrated steel plant in Karnataka when he called on the southern state's Chief Minister B S Yeddyyurappa.
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.
Traders blame demonetisation for subdued demand in retail segment
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.
Tata Steel has expanded its presence in Orissa following acquisition of 100 per cent of equity stake in Rawmet Industries Private Limited, a company having its registered office at Kolkata, at an enterprise value of Rs 101 crore (Rs 1.01 billion).
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.
Over 100 Indian institutions offer semiconductor design curricula, but hardly any of them focuses on manufacturing and process technology, a top official from global memory and storage major Micron Technology said on Thursday. There is significant global demand for such chip engineers, its president and chief executive Sanjay Mehrotra said at the 10th Vibrant Gujarat Global Summit in Gandhinagar. "While more than 100 Indian institutions provide a semiconductor design curriculum, hardly any focus on semiconductor manufacturing and process technology.
Essar Steel's 4.6 million tonne per annum (mtpa) at Hazira generates 20-24 per cent slag and less than one per cent dust, both are waste products. Essar Steel uses electric arc furnaces to produce the commodity in its lone domestic steel-making facility at Hazira in Gujarat. It is also setting up additional 4.9 mtpa facility adjoining to the existing plant.
The Orissa government on Monday said it will within the next three months, remove all hurdles to South Korean steel giant Posco's Rs 52,000 crore (Rs 520 billion) plant in the state amid a possible review of investment.
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