'We can hope to see a lot of creation of jobs in the days to come.'
According to the Securities and Exchange Board of India regulations, if the shareholding crosses 15 per cent, it would trigger an open offer. Bhubaneshwar-based Orissa Sponge is understood to have iron ore and coal reserves of around 120 million tonnes each along with sponge iron and billet making plants.
It was touted as a game changer but big-ticket privatisation has been a mixed bag as the government faces unanticipated challenges of lukewarm investor response, employee union agitation and legal hurdles. Prime Minister Narendra Modi's often-repeated statement 'the government has no business to be in business' guided the drawing up of an ambitious privatisation pipeline. While Air India sale succeeded, Bharat Petroleum Corporation Ltd (BPCL) divestment failed.
The Steel Ministry on Wednesday said it may seek from the Environment Ministry speedy clearance to Posco's Rs 54,000 crore (Rs 540 billion) project in Orissa.
The company's planned capex for 2019-2020, which was Rs 12,000 crore, has now been revised down to around Rs 8,000 crore.
Steel Authority of India Ltd (SAIL) has accorded its in-principle approval to the expansion plan of Rourkela Steel Plant (RSP) at a cost of Rs 9,869 crore (Rs 98.69 bn), the sources said.
New products being designed mainly for auto, oil & gas sectors; firm is raising Kalinganagar plant capacity from three mtpa to eight mtpa
Tata Steel's margins may remain under pressure in FY15.
After being halted for more than a year, land acquisition for the showpiece Rs 52,000-crore Posco steel plant in Odisha resumed on Sunday amid clashes between police and protesters.
Liquidity crisis and demand slowdown has forced Tata Steel, the country's largest steel maker, to put brakes on its greenfield projects in Jharkhand and Chhattisgarh.
Vietnamese Prime Minister Nguyen Tan Dung on Wednesday assured Finance Minister Pranab Mukherjee that land acquisition issues for the proposed Tata Steel plant in the neighbouring country would soon be resolved.
More politicians are getting "Z-plus" security and the new entrants include Union Minister Beni Prasad Verma and Bahujan Samaj Party MP Brajesh Pathak months after the list of VIPs in this category was pruned during P Chidambaram's tenure as home minister.
The company substantially improved its performance over the corresponding period last year by registering a six per cent and eight per cent growth in saleable steel production and sales, respectively.
The condition of President Ram Nath Kovind is stable and he is being referred to the All India Institute for Medical Studies for further investigation, the Army's Research and Referral hospital said on Saturday.
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.
Tata Steel's $5 billion steel project in Vietnam has hit a roadblock, thanks to a delay in land allocation.
Pursuit of raw material had landed Bhushan Steel in the coal block allocation scam.
The state government has already decided to challenge Orissa High Court's July 14 judgement that set aside recommendation of Posco-India's name for prospecting license (PL) over Khandadhar iron ore reserve.
'If his father and brother were alive today, they would be brimming with joy. This is the life's most memorable day and only few are lucky to see it. I'm the proudest mom on this earth.'
Congress president Mallikarjun Kharge on Monday expressed apprehension that the 2024 Lok Sabha elections would be the last opportunity for the people to save democracy, as Prime Minister Narendra Modi might prefer dictatorship in case his party wins the upcoming polls.
ADAG has drawn up plans to invest Rs 650 billion in the steel, cement and shipping se three new areas over the next five years. The investment includes Rs 200 billion to set-up a 10 million cement plant and Rs 400 billion towards a steel plant in Jharkhand. The group believes that the three new lines of businesses fit more with RNRL than with other companies under the group, an ADAG source said.
India's Tata group, which plans to invest $2 billion in Bangladesh, wants to explore coal as a source of energy for its proposed steel and power plants in the country.
Some news reports have suggested that the South Korean steel giant is not willing to settle for anything less than a majority stake in the proposed joint venture and has also refused to transfer it's FINEX technology to SAIL.
It will not shut down two blast furnaces at the Florange facility which will retain 650 workers whose jobs were under threat.
Overall, Tata Steel becomes the seventh non-financial firm, including four oil PSUs to report quarterly revenues of Rs 50,000 crore.
The government will soon issue guidelines for regulation of OTT (over the top) platforms that will address issues such as sensitive content, the Rajya Sabha was informed on Tuesday.
In view of the high demand for oxygen in the country following a record spike in coronavirus cases, the Railways has decided to run Oxygen Express trains to transport liquid medical oxygen and oxygen cylinders across the country.
China's largest steel producer, Shanghai Baosteel, has set its eyes on Baotou Iron & Steel Group after global steel baron, Lakshmi Mittal's bid for a 50 per cent stake in the Chinese company faltered.
Issue came up for discussions between President Lee Myung-bak and visiting Indian President Pratibha Patil.
Mittal and his son Aditya landed at Bhubaneswar airport around 0930 hours in a chartered aircraft and headed for the state secretariat to meet Orissa Chief Minister Naveen Patnaik and his cabinet colleagues.
JSW Steel, Tata Steel, Steel Authority of India, Bhushan Steel, Essar Steel, Jindal Steel & Power, and Rashtriya Ispat Nigam are among the top producers of the alloy in the domestic market
Essar Steel aims to participate in the indigenisation of products used in naval defence
However, the company will go ahead with its plans in Jharkhand, and has secured iron ore mines and coal linkages to the project, company sources told Business Standard. An e-mail reply from the steel major said it was not expecting its projects in India to start before 2014.
The steel sector has plenty to cheer in the Budget 2012-13, as it has proposed increasing the import duty on flat-rolled steel to 7.5 per cent and reducing duty on plant and machinery imports for iron ore beneficiation to 2.5 per cent.
Tata Steel is fine-tuning strategies to enhance revenues.
KAPP-3, the country's 23rd nuclear power reactor, is a 700 MW Pressurised Heavy Water Reactor (PHWR) designed indigenously, the NPCIL said in a release. The components and equipment for the reactor have been manufactured by Indian industries, and its construction was undertaken by various Indian contractors, it said.
Vistara'a launch, the steel plant at Kalinganagar and e-commerce venture are the ones most awaited for
© 2026 Rediff.com - Advertise with us - Disclaimer - Privacy Policy - Sitemap - Feedback - About us - Terms of use - Grievances