Construction Mirror Steel News

Centre Government Examine Allegation of Low Quality Steel: Chaudhary Birender Singh...

The central government will look into the allegation of low quality steel being pushed into the market, Steel Minister Chaudhary Birender Singh said. Singh, however, rejected reports that the entire lot of 26 TMT bar brands had failed in quality parameters. “The ministry will examine the matter. While inspecting, we find the products are meeting the Bureau of Indian Standards (BIS) no  ...

Jindal Steel and Power Ltd to Enhance Angul Plant’s Capacity to 20 mtpa by 2030...

The Jindal Steel and Power Ltd (JSPL) has set a target to increase its Angul plant’s capacity to 20 mtpa by 2030, a top company official said. This was revealed by JSPL chairman Navin Jindal, who earlier in the day met Odisha steel and mines secretary R K Sharma here. We have plans to invest additional Rs 50,000 crore for enhancing the Angul plant’s capacity from 6 mtpa to 20 mt  ...

Nippon Steel Sees India as Most Promising Market...

Japan’s top steelmaker Nippon Steel & Sumitomo Metal Corp sees India as the most promising market and wants to become “an insider” to capitalise on growth of the world’s third-biggest steel market, a senior executive said. “India will be the fastest-growing steel market in the world going forward,” Nippon Steel Executive Vice President Katsuhiro Miyamoto  ...

Steel Ministry Against Inclusion of Finishings Products in RCEP ...

India’s steel ministry has strongly opposed the inclusion of finished steel products in the proposed regional free-trade agreement, saying it would have an adverse impact on the industry that’s recovering from a crisis. A group of ministers is looking into aspects of the Regional Comprehensive Economic Partnership, or RCEP, after many ministries and departments expressed reserva  ...

ArcelorMittal sSays NuMetal Alter Ego of Ruias; NCLAT Disagrees ...

Locked in a direct fight to acquire Essar Steel, ArcelorMittal sought disqualification of Russia’s VTB Capital-backed NuMetal Ltd, alleging that the firm was acting in concert with delinquent promoters of Essar group but the NCLAT hearing the case did not agree to its contention. When first bids for loan defaulter Essar Steel were called in February, Rewant owned 25 per cent in Maurit  ...

8% Growth of Tata Steel Records in Q1FY19 Sales...

Tata Steel an 8% growth in Q1FY19 sales led by its highest ever quarterly sales of automotive steels in India. Sales touched 2.97 million tonnes in April-June 2018-19 against 2.75 mt in same period last year. Automotive and Special steels sales jumped to 557 kt in Q1FY19 due to stronger demand and new product approvals, an official statement said. The company said branded products and retai  ...

IKEA and Gati-KWE Come up as Logistics Partner ...

Express logistics company GATI-KWE has been selected as the logistics partner for the world’s largest furniture retailer IKEA’s first India store in Hyderabad. The partnership will enable IKEA to manage home deliveries of its products to customer homes across Telangana. The overall scope of partnership is a combination of contract logistics, last-mile distribution and reverse lo  ...

(RMD) Clocks Record Numbers in Production and Dispatch of Iron Ore...

RMD’s iron ore mines at Kiriburu, Meghahatuburu, Gua, Chiria in Jharkhand, and Bolani, Barsua, Taldih, Kalta in Odisha together produced and dispatched 5.19 million tonne (MT) and 5.11 MT respectively, notching a growth of 15.4% and 16.7% over correspond .. The mines have also achieved best ever monthly production of 1.85 MT in June. In particular, RMD’s Bolani mines clocked its  ...

Sterlite Tech’s Italian Unit to buy Metallurgica Bresciana for 47 Million Euros ...

Sterlite Technologies said one of its subsidiaries will acquire Metallurgica Bresciana, a European specialised optical cable manufacturer, for 47 million euros in an all-cash deal. The acquisition, which will be done through Sterlite Technologies’ wholly-owned Italian subsidiary Sterlite Technologies SpA, is earnings per share (EPS) accretive and the deal is expected to be closed in t  ...

Karnataka: 100% Water Tariff Hike ups Production cost for Heavy Industries...

Karnataka government’s decision to hike water tariff for industrial use by 100 times has led to significant escalation in production costs for industries in the state, particularly heavy industries like, steel, power and manufacturing. Faced with jump in costs the Karnataka Iron & Steel Association (KISMA) as well as other affected manufacturers have appealed to the state government f  ...

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