SAIL invests Rs 2,600 crore in Rourkela plant for HR coils

Domestic steel giant SAIL is investing over Rs 2,600 crore for installing a three million tonnes per annum facility for hot rolled (HR) coils at its Rourkela plant to make auto-grade and special steel products.

SAIL spends Rs 284-cr on R&D in FY'15, highest by an Indian company
SAIL spends Rs 284-cr on R&D in FY'15, highest by an Indian company

Domestic steel giant SAIL has spent Rs 284 crore on research and development (R&D) initiatives in the last fiscal ended March 2015, the highest by any steel maker in India, Steel Secretary Rakesh Singh said Thursday.

PK Singh selected new SAIL Chairman

Government headhunter Public Enterprise Selection Board (PESB) Monday selected Durgapur Steel Plant's CEO P K Singh for the top post at domestic steel giant SAIL.

SAIL's expansion prog planning, execution not efficient: CAG

The modernisation and expansion programme of state-owned steel major SAIL has been marred by project delays and its implementation has been inefficient at all stages, including tendering and cost overruns, government auditor CAG said Wednesday.

SAIL's Rs 70K-cr modernisation programme complete: Tomar

SAIL's Rs 70,000 crore modernisation programme has been completed and it will increase the capacity of the domestic steel giant to 23 million tonnes per annum (MTPA) by March next year, Steel Minister Narendra Singh Tomar said today.

Steel Minister asks SAIL to check falling market share

Steel Minister Narendra Singh Tomar Monday directed SAIL to increase its competitive spirit amidst the steel major's market share dipping to 14 per cent in the last fiscal from 18.8 per cent in 2009-10.

C S Verma steps down as SAIL CMD, steel secretary takes charge

Verma was appointed CMD of the country's largest steel producer for a 5-year term in June 2010 by the previous UPA government.

Govt denies SAIL Chairman extension, Steel Secy given charge

The government has refused to extend the tenure of SAIL Chairman C S Verma till his superannuation -- making him the first 'Maharatna' PSU head to be denied extension during the current NDA regime.

India's steel & power project in Afghanistan face hurdles

"The AFISCO project has been put in cold storage. There are several issues. First, it is about the security of the personnel in that country. Then there is a question of economic feasibility as it is difficult to operate there due to a continuous conflict hurting the basic infrastructure," the source said.

Government to extend full support to Posco: Tomar

In the past few months, Posco officials has been meeting Ministers and officials regarding investment in India's steel sector.

SAIL profit down 26% at Rs 334 cr; steel output up 10%

Hot metal production grew by 7 percent to 15.41 MT from 14.45 MT and saleable steel output was almost flat at 12.84 MT from 12.88 MT during the same period.

Plunging profits, lofty losses shadow India Inc Q4 report-card

Defying the growth momentum in overall economy, corporate giants including M&M and Sun Pharma as well as state-run behemoths like NTPC, SAIL and IOC today announced lower quarterly profits, while many others have fared even worse due to rising costs and weak consumer demand.

ArcelorMittal, SAIL to set up steel plant in India

NRI billionaire Lakshmi Mittal-led ArcelorMittal on Friday partnered PSU giant SAIL to set up an automotive steel plant with an estimated Rs 5,000 crore investment, taking a fresh shot at entering India after nearly a decade-long wait for its earlier projects to take off.

Iran asks India to lower prices of rail tracks

Emboldened by prospects of West lifting years of sanctions, Iran has asked India to lower prices of rail tracks it had offered to supply in a tender.

SAIL completes Rs 6,325-cr expansion of Bokaro plant: Govt

State-run SAIL has completed the current phase of the modernisation and expansion of the Bokaro Steel Plant with an investment of Rs 6,325 crore, Parliament was informed Wednesday.

NMDC in pact to set up ultra mega steel plant in Chhattisgarh

"NMDC, under the Ministry of Steel signed MoU for setting up ultra mega steel plant in Bastar region.

SAIL to pump Rs 1,50,000 crore by 2025

SAIL, the country's largest steel maker, has charted investment of Rs 1,50,000 crore till 2025 to ramp up steel production from 24 million tonnes to 50 million tonnes.

Subdued demand hits SAIL, sales decline by 2.3% in FY'15

Sales of steel major SAIL took a hit of 2.3 percent at 11.8 million tonne (MT) in the fiscal ended March, 2015, due to subdued demand in during the July-December period.

Posco, SAIL in talks for setting up a steel plant: Govt

"SAIL and Posco recently discussed possible collaboration opportunities including setting up of an integrated steel plant," Minister of Steel and Mines Narendra Singh Tomar told Lok Sabha in a written reply.

Fitch downgrades SAIL's credit profile to 'negative'

Rating agency Fitch on Wednesday downgraded Steel Authority of India Ltd's (SAIL) credit profile to 'negative' from 'stable' stating subdued operating performance.