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The UK-based metals group Liberty House announced that it has secured financing from a group of international banks for the purchase of Rio Tinto’s aluminium smelter in Dunkirk in France. “British-owned Liberty, part of Sanjeev Gupta’s global GFG Alliance, has announced that it has entered into a committed financing agreement with a syndicate of major […]

India’s coal imports rose by 7.9 per cent to 134.46 million tonnes (MT) in the first seven months of the current fiscal, according to mjunction services. The country imported 124.57 million tonnes of coal in the corresponding period of previous fiscal. “During April-October 2018-19, India’s coal and coke imports stood at 134.46 MT, about 7.9 […]

Metals & mining conglomerate Vedanta Ltd is planning to ramp up its Lanjigarh alumina refinery capacity to six million tonnes per annum (mtpa), up from one mtpa now. Vedanta’s proposal for expansion was recently cleared by the High-Level Clearance Authority (HLCA), the apex body to approve investments in Odisha. “Our Lanjigarh refinery expansion will happen […]

The steel sector’s growth in the first half of the current fiscal could surpass that of the country’s GDP numbers, a senior official of a metallurgists’ body said. The official of Indian Institute of Metals (IIM) also said long and short-term demand outlook for the sector remains robust with many government initiatives and global cues. […]

Tata Steel Ltd is eyeing an installed capacity of around 30 million tonne per annum by 2025 in India from the existing 18.5 million tonne, a senior company official said The steel major has recently taken over Bhushan Steel and Usha Martin plants, which has a combined rated capacity of 7 million tonne per annum. […]

Coal India’s offer for sale garnered Rs 16.5 billion worth of bids from retail investors. Bids for 61.91 million shares were received from individual investors, as against the base issue size of 39.6 million. Including the green shoe option, 111.7 million shares worth Rs 30 billion were available for retail subscription. CIL shares closed at […]

Tata Steel said it will continue discussions with the European Union (EU) on proposed joint venture with Thyssenkrupp. The statement comes a day after the EU launched an in-depth investigation to assess if Tata Steel’s proposed joint venture (JV) with German steel giant ThyssenKrupp would breach the bloc’s merger regulations and reduce competition. The European […]

Sajjan Jindal-led JSW Steel will pump in USD 150 million (approximately Rs 1,000 crore) in the first tranche to set up its new steel facility in Texas, US. This is part of the USD 500 million investment commitment made by the company for the steel pipes and plates facility in Texas in March this year.”JSW […]

The flagship company of the VSL Group, VSL Steels, is planning to set up thermo mechanical treatment (TMT) bars manufacturing unit in Chitradurga district of Karnataka. The facility will span over 204 acre of land. The TMT bar unit with a capacity of three million tpa will manufacture billet casting, TMT flats and rods. The […]

The Odisha government cleared a big ticket project proposal of Hindalco Industries Ltd worth Rs 5,000 crore. The State Level Single Window Clearance Authority (SLSWCA) in its meeting recommended a proposal of Hindalco Industries Limited to set up an aluminum flat rolled product unit of 0.375 MTPA at Sambalpur, an official statement said. This proposal […]