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SAIL-ArcelorMittal $1 bn JV to be finalised by December: Govt

SAIL-ArcelorMittal $1 bn JV to be finalised by December: Govt

The proposed USD 1 billion JV between global steel giant ArcelorMittal and India's largest producer of the metal SAIL will be finalised by December.

'India among top 10 steel importers in 2015'

'India among top 10 steel importers in 2015'

 India, the world's third largest steel producer, was among the top 10 importers of the alloy last year, according to the latest data by the global industry body World Steel Association (WSA).

India's steel imports dip 8.7% in Jan, up 24% in Apr-Jan

India's steel imports dip 8.7% in Jan, up 24% in Apr-Jan

India's steel imports dipped by 8.7 percent last month but was up 24.1 percent for the April-January period of the ongoing fiscal.

Odisha may offer Posco the JV option with OMC

Prime Minister's Principal Secretary Nripendra Misra on Tuesday held a meeting with Mines Secretary Balvinder Kumar, Steel Secretary Rakesh Singh, Odisha Chief Secretary G C Pati and Posco India CMD Gee Woong Sung on the steps that can be taken to save the project, sources said.

Steel Ministry approves 83 R&D projects worth over Rs 696 cr

Besides, thrust is also being given to develop more value added products for which the country is mostly dependent on imports, the official added.

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.

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.

Steel Ministry facilitating SPVs with mineral-rich states

"The Ministry of Steel is facilitating setting up of SPVs in mineral-rich states of Odisha, Chhattisgarh, Jharkhand and Karnataka,"

Alarmed by China 'dumping', Minister bats for higher duty on steel

The steel ministry has asked its finance counterpart to raise import duty on the metal amid serious concerns of the industry over "dumping" from China.

SAIL undertakes modernisation, expansion of 5 steel plants

SAIL has undertaken modernisation and expansion at five of its steel plants to augment its crude steel production capacity to 21.4 MTPA.

Steel Ministry seeks hiking of import duty on finished products

The Mines and Steel Ministry has sought import duty hike on finished steel products to 10 percent, besides complete withdrawal of the levy on imports of steel-making inputs such as iron ore and coking coal in the coming Budget.

Double whammy for steel firms: Rising imports, dipping exports

Facing a double whammy of rising imports and declining exports, domestic steel manufacturers are fearing further squeeze in their margins in a stubbornly subdued domestic market.

Govt asks NMDC to advance 100 mtpa production target

Steel Ministry Tuesday directed PSU iron ore miner NMDC to advance its 100 mtpa production target by four years to 2020-21 to ensure the raw material for the domestic steel industry at reasonable prices.

India's steel consumption grows by 1.3% in Apr-Nov

India's steel consumption grew by a moderate 1.3 percent to 48.62 million tonnes during the April-November period of current fiscal on lingering effect of the economic slowdown and slow growth in production.

ICVL for recasting itself, moves Steel Ministry

International Coal Ventures Ltd (ICVL) was set up in 2009 for acquiring coal mines abroad with an initial authorised capital of about Rs 10,000 crore.

FinMin to decide on removing iron ore import duty: SteelMin

Finance Ministry will take a call on withdrawing import duty of iron ore in the face of falling domestic supplies that is forcing steel makers to buy the raw material from overseas market, a Steel Ministry official said.

SAIL eyes majority stake in Neelachal Ispat

NINL also produces LAM coke used by the steel industry. It has a 62.5 MW captive power plant to meet captive needs.

Roadshows for SAIL stake sell to start month-end

Domestic roadshows for the issue, in which government's around 20.65 crore shares would be divested through Offer For Sale, or auction route, will be held in Mumbai and Chennai.

Steel Ministry to appoint consultant for boosting SAIL's performance

Worried over declining profit in SAIL, the Steel Ministry has decided to appoint a globally-renowned consultancy agency to carry out a "diagnostic study" for enhancing the maharatna's performance.

Steel consumption inches up by 0.7% in Q1

The country had consumed 18.69 MT steel in the April-June quarter of last fiscal, showed data compiled by Joint Plant Committee.