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India Steel News

Arcelor Mittal's $250 mn profit plan for stainless steel segment Dec 17, 2010Arcelor Mittal's $250 mn profit plan for stainless steel segment

ArcelorMittal today announced a $250 million profit enhancement plan for its stainless steel division, which is to be spun off early next year. The new entity named as Aperam and to be listed on the stock exchanges of Paris, Amsterdam and Luxembourg,... >> more

Bhushan Steel inks 20-yr coal deal with Oz co Dec 16, 2010Bhushan Steel inks 20-yr coal deal with Oz co

Australia-based coal supplier Resource Generation today said India's Bhushan Steel will purchase coal from its Boikarabelo mine in South Africa for 20 years.

Both the companies have entered into an agreement to this effect, under which Bhusha... >> more

Essar, Kobe join hands to develop auto steel Dec 16, 2010Essar, Kobe join hands to develop auto steel

Essar Steel and Kobe Steel of Japan have entered into a memorandum of understanding (MoU) to produce autograde steel in India. Under the MoU, the two steelmakers will jointly explore the possibility of setting up a continuous annealing line and a con... >> more

Essar ties up with Kobe for auto-grade steel Dec 16, 2010Essar ties up with Kobe for auto-grade steel

Essar Steel signed a memorandum of understanding (MoU) on Wednesday with Japanese steel major Kobe Steel for a possible tie-up to produce automobile grade steel.

“Essar Steel will collaborate with Kobe Steel in the areas of technology for manu... >> more

NMDC JV to give direct access of Indian steel market to Severstal Dec 14, 2010NMDC JV to give direct access of Indian steel market to Severstal

State-run NMDC’s proposed joint venture with Russia’s Severstal will give the foreign company direct access to the Indian steel market, considered the world’s second fastest growing after China, while also diversifying the local mining company into s... >> more

NMDC-Severstal to set up Rs 9,000-cr steel plant in Karnataka Dec 13, 2010NMDC-Severstal to set up Rs 9,000-cr steel plant in Karnataka

NMDC signed an MoU with Russian steel-maker OJSC Severstal on Friday to float a 50:50 joint venture company to set up a five million tonne steel plant in Karnataka. Both firms would invest a total of Rs 9,000 crore in the plant near Bellary in Karnat... >> more

Orissa may extend Posco MoU by six years Dec 13, 2010Orissa may extend Posco MoU by six years

The state steel & mines department has recommended the renewal of Memorandum of Understanding (MoU) with Posco India for a period of six years from June 22 this year, the date of expiry of the pact with the steel major. The department, however, h... >> more

NMDC, Severstal to set up steel plant in Karnataka Dec 10, 2010NMDC, Severstal to set up steel plant in Karnataka

India’s largest iron ore producer, NMDC, is set to sign a memorandum of understanding with Russia’s third largest steelmaker, Severstal, for a plant in Karnataka.

The deal, entailing an initial investment of $1 billion from Severstal, would ma... >> more

SAIL plans to expand its dealer network: Virbhadra Dec 10, 2010SAIL plans to expand its dealer network: Virbhadra

State-owned Steel Authority of India has plans to expand its dealer network in the country to widen its reach, the Lok Sabha was informed today.

"... With a view to widen the reach of its steel products, the Steel Authority of India Ltd (SAIL)... >> more

SAIL may shortlist 4 cos for coal mine project Dec 10, 2010SAIL may shortlist 4 cos for coal mine project

Four companies may be short-listed by Steel Authority of India Ltd (SAIL) to submit price bids for the development and operation of a four-million-tonne open-cast coking coal mine with inbuilt coal beneficiation plant at the Tasra block in Jharkhand.... >> more

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