Essar Steel

The spirit was matched by industrialists - the who's who of India Inc who were present on Thursday, the first day of the investment conclave

Nearly Rs 90,000 crore worth of capital expenditure has been incurred so far on various asset acquisitions and projects, with a major investment of about Rs 42,000 crore

To maintain higher capacity utilisation, exports are necessary for local steel players expanding their capacities, as demand is not directly proportional to production, according to a top industry executive. "Since expansion happens... there will be a certain stage where you necessarily will have to export, if we have to be on high capacity utilisation," Dilip Oommen, CEO of ArcelorMittal Nippon Steel (AMNS) India told PTI. His comments assume significance as steel players are looking up to the government for relief in the form of roll back of the duties levied on steel exports. On May 21, the government hiked the duty on exports of iron ore by up to 50 per cent and for a few steel intermediaries to 15 per cent. In line with the government's 300 MT steel making capacity target, other steel players like Tata Steel, JSW Steel, SAIL and JSPL are also expanding their capacities to meet the goal. AMNS India on Friday commenced a Rs 60,000-crore expansion project to scale up its Hazira

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The $5.7-billion acquisition that closed after an 865-day-long saga was the largest private sector transaction in India in 2019 and the second-largest steel transaction globally that year

In a 35-page order, Sebi has imposed a fine of Rs 2 lakh on Essar Steel India Pvt Ltd for the disclosure lapses

Aditya Mittal unveils a four-fold vision for joint venture with Nippon Steel in India, ArcelorMittal Nippon Steel India, of which he is also the chairman

The steel plants acquired via IBC process include Bhushan Steel, Essar Steel, Electrosteel Steels, Monnet Ispat & Energy Ltd and Bhushan Power & Steel

The acquisition of EPORL was completed on Saturday. The move is yet another effort to make AM/NS India's operations self-reliant

It has been a mixed bag for the firm he renamed AMNS India, and while the pain of the downturn and the pandemic has subsided, other issues remain

Firm claims Covid has had no long-term impact, growth plans are on track and target of reaching 12-15 million tonne output remains

While some companies have chalked out a relatively long-term plan to increase market penetration, others are seeing rural demand bounce back to pre-Covid levels

The plant is the only greenfield project slated for commissioning in the near term. Sources said it would have been commissioned by now had it not been for Covid-19

Demerger of Nagarnar plant could create generate funds for the centre but the state's government is likely to read it as a step toward privatisation.

75-day wait ends today but getting customers and labour back is a challenge

On Wednesday, the Union Cabinet gave approval to the suspension of the IBC for Covid-19-related stress

The high court order of March 30 came as ArcelorMittal looked to enforce a $1.5-billion arbitral award stemming from a soured supply agreement.

Iron ore extraction in a falling demand scenario due to cutbacks in steel production is weighing on its prices

In the order the London High Court said there was no grounds to order a global freeze on the Ruia and Essar assets