Heavy Industry Ministry

Aim to make FAME scheme more transparent: Minister for Heavy Industries

"The ministry is considering every direction (on penalty) but we will take a decision based on the recommendation in the investigation report"

Hero Electric eyeing 1.7-2.5x volume growth in 2023, says MD Naveen Munjal

Asserts that the company is robust not to depend on govt subsidies for survival and growth

Govt to initiate closure of SAIL's steel unit in Bhadravathi: MoS Finance

The government has decided to shut SAIL's loss- making Visveswaraya Iron & Steel Plant (VISP) at Bhadravathi in Karnataka, Parliament was informed on Monday. The government had originally planned for privatising VISP and had invited Expression of Interest (EoI) for selling SAIL's 100 per cent stake in the unit in July 2019. However, in October last year, the government decided to scrap the strategic disinvestment plans of VISP due to low bidder interest. In reply to a question in the Lok Sabha, Minister of State for Finance Bhagwat Karad said the shortlisted bidders had expressed inability to participate in the sale process of VISP. "On account of old machinery, sub-optimal size, continuous losses and shutdown of blast furnace for a long time, it has been decided to initiate the process for closure of this unit," Karad said. The Cabinet had in October 2016 cleared strategic disinvestment of SAIL's 100 per cent stake in VISP.

All 7,000 e-buses under FAME-II to run on roads in next one year: Official

Joint secretary in the heavy industries ministry Hanif Qureshi said that out of the 7,000 electric buses, over 3,000 e-buses are already operating in the country

Centre to recover subsidies wrongly claimed under Fame scheme: Report

Ministry of Heavy Industries has already initiated the process to find out the quantum of subsidy claimed without meeting the localisation commitments by EV makers in India

Govt may invite financial bids for BEML privatisation in December quarter

The government is likely to invite financial bids for the privatisation of BEML in the December quarter, an official said. Earlier this month, the corporate affairs ministry approved the demerger of land and non-core assets of BEML to BEML Land Assets Ltd. The official said that every shareholder of BEML will get shares in BEML Land Assets and the process of demerger would be completed by the end of September or early October. "Once the demerger process gets over by September-end or by early October, the financial bids for strategic sale of BEML would be invited," the official told PTI. The financial bids are expected in the October-December quarter and the draft share purchase agreement too would be finalised by then, the official added. In January last year, the government invited preliminary bids for selling 26 per cent stake in BEML along with the management control. Multiple Expressions of Interest (EoIs) were received by the government, after which the process of demerger w

India committed to collaborate with industrialists from SCO: Union minister

With mutual cooperation, we can give new direction to socio-economic and industrial development: Union minister Mahendra Nath Pandey

SEZ 2.0: Regional boards to track development hubs on the cards

The commerce and industry ministry is drafting a legislation for the next chapter for SEZs that will see development of large manufacturing and investment hubs

Land special purpose vehicle on fast track as board structure finalised

The board of NLMC would have 13 directors, of which seven would be government officials and six would be from the private sector

Govt inaugurates India's first coal to methanol plant built by BHEL

Union Minister for Heavy Industries Mahendra Nath Pandey on Saturday dedicated India's first BHEL-built 'coal to methanol' pilot plant to the nation here

Heavy industries minister inaugurates data centre at BHEL facility

Union Heavy Industries Minister Mahendra Nath Pandey has inaugurated a modern, state-of-the-art data centre at BHEL's Electronics Division in Bengaluru. Established to commemorate India's celebration of 'Azadi ka Amrit Mahotsav' and as a step in BHEL's digital transformation journey, the data centre at Electronics Division (EDN) encompasses the data centres of all the three Bengaluru-based units of BHEL, namely Solar Business Division (SBD), Industrial Systems Group (ISG), as well as EDN, a statement said. The facilities at these three units have been brought together and co-located in one place leading to optimisation of IT infrastructure, better data security and reduction in operating cost. The connectivity to SBD and ISG, located about 12 kms from EDN, is provided through high-speed multi-protocol label switching (MPLS) for increasing the speed and also to control the flow of network traffic. "Mahendra Nath Pandey, Union Minister of Heavy Industries, inaugurated a modern, ...

Tata Steel backs new global framework for decarbonising heavy industries

Tata Steel said it has joined a network of heavy industries and civil society groups that will provide a global framework for decarbonising heavy industries as part of the Covid-19 recovery plan.

Davos: Heavy industry, transport sectors to align on net-zero climate plans

The agreement, to be announced at the virtual Davos World Economic Forum on Wednesday, includes giants like miner Arcelor Mittal, shipper Maersk, and oil behemoth Shell

Prakash Javadekar takes charge as Union heavy industries minister

Prakash Javadekar on Wednesday took charge as the Minister of Heavy Industries and Public Enterprises, two days after Shiv Sena leader Arvind Sawant resigned from the Union Cabinet. Javadekar also holds information & broadcasting, and environment, forest and climate change portfolios. Speaking to reporters here, Javadekar said he hoped the additional charge was for a temporary period and there will be a regular arrangement in place thereafter. "I have assumed charge of heavy industries and the related ministries. I hope it's for temporary period because there will be a regular arrangement thereafter. But, as I was asked I have assumed the charge and will start functioning right from today (Wednesday)," Javadekar told reporters. Addressing a press conference here on Monday, Sawant accused the Bharatiya Janata Party (BJP) of reneging on its promise to the Shiv Sena for equal division of seats and power and forcing the Uddhav Thackeray-led party to snap ties. He alleged that the BJP

Investment by heavy industry PSUs halved to Rs 4.3 billion in FY19

The government had estimated an expenditure of Rs 3.74 billion for the 18 PSUs, including BHEL, Cement Corporation of India and Hindustan Salts in the revised estimate of 2017-18