The coal ministry has decided to auction Coal India Limited’s (CIL) linkages, which the state-run miner signs with its buyers in the form of fuel supply pacts.
It is learnt that Posco and SAIL are working out to jointly set up a steel project through SPVs in addition to the South Korean firm’s proposed Rs 52,000 crore plant at Jagatsinghpur in Odisha.
The steel ministry is exploring mergers of some of its units so that the companies can have adequate financial wherewithal to upgrade their operational ability.
After being in oblivion for some time, IISCO’s steel plant in Burnpur (West Bengal) saw the light of day after 10,000 people — engineers, workmen and about 100 foreign experts — laboured for the past five months. The plant holds significance because the Indian Iron and Steel Company’s (IISCO) plant at Burnpur is one of […]
For SAIL, sales realisation which stood at Rs 942 crore in December 2014 decreased by 13 per cent against Rs 1,081 crore recorded in the same month in 2013.
SAIL’s board had in December approved setting up of a SPV — Chhattisgarh Mega Steel Limited and the state-run steel maker and NMDC will ink an MoU for executing the project.
Of these 36 coal blocks, only one has been earmarked for steel companies.
Venture likely to produce 3 million tonnes of steel per annum.
Seeks land near Bandar Abbas port; captive access to raw material.
The company has also decided to set up a 0.768 MT top charged coke oven battery facility at the same location.
The government’s disinvestment programme kicked-off last week with the selling of its 5 per cent stake in the steel-maker SAIL.
It is also learnt that State Bank of India and General Insurance Corporation invested around Rs 150 crore and Rs 50 crore respectively.
Government needs to live up to its reformist claims, frame a strategic vision for PSUs
As many as 17 PSUs are without a chairman including the likes of Coal India Power Finance Corporation and NHPC.
SAIL described it as a “freak accident”, the first such event in 50 years.