Republic of India becomes second largest steel producer

[Hindustani78]

Reliance will invest ₹5,000 crore in West Bengal: Mukesh Ambani
Special Correspondent
Kolkata, January 16, 2018 14:55 IST
Updated: January 16, 2018 16:44 IST

http://www.thehindu.com/news/cities...kesh-ambani/article22449506.ece?homepage=true


The investment would be made over the next three years and promote the electronics industry by manufacturing mobile phones and set top boxes, he says.
Reliance Industries Ltd. (RIL) will invest ₹5,000 crore in West Bengal, mainly in petroleum and retail sector, its chairman Mukesh Ambani said on Tuesday.

Mr. Ambani was present with a host of other industrialists at the Bengal Global Business Summit in Kolkata.

He said the investment would be made over the next three years and promote the electronics industry by manufacturing mobile phones and set top boxes.

RIL had pumped in ₹15,000 crore in the telecom business in the State although it earlier committed to invest ₹4,500 crore, he pointed out.

'Conducive business environment'
This was made possible due to the conducive business environment in the State under Chief Minister Mamata Banerjee, he said.

L.N. Mittal of Arcelor-Mittal, Sajjan Jindal of JSW Steel, Kishor Biyani of Future Group, Head of the Kotak group Uday Kotak and chairman of the RP-Sanjiv Goenka group Sanjiv Goenka were among the 4,000 participants attending this year’s summit.

Ms. Banerjee tweeted that “nine partner countries, 32 countries with big delegations, more than 4000 participants, [and] we look forward to the Summit with lots of optimism.”

Later, Ms. Banerjee said the “State’s infrastructure, including 12000 kilometer of upgraded roadways” is ready to support the investment.

(With inputs from news agencies)

 

[Hindustani78]

http://www.thehindu.com/business/In...rough-bonds/article22470497.ece?homepage=true

The bonds are rated BB- by S&P and will be listed on the Singapore Exchange (SGX).
Tata Steel Limited has raised $1.3 billion by issuance of unsecured bonds in the international markets.

“The issue comprises $300 million 4.45% Unsecured Bonds due on July 24, 2023 and $1 billion 5.45 per cent Unsecured Bonds due on January 24, 2028 by Abja Investment Co Pte Ltd, a wholly owned subsidiary of Tata Steel incorporated in Singapore,” said a company statement.

The bonds are rated BB- by S&P and will be listed on the Singapore Exchange (SGX).

Road shows were organized simultaneously in Dubai, Singapore, London and Hong Kong and the transaction was launched on January 18, 2018.

By the time books closed at the end of the day, the peak order book was in excess of $7 billion across tranches, said the statement adding that the tremendous response enabled the issue to be priced about 42 bps tighter than the initial price thoughts on both the tranches.

The deal was distributed to a wide number of long term buy-and-hold institutional investors, banks and private banks across regions.

Mr. Koushik Chatterjee, ED and CFO of Tata Steel said “The Proceeds of the bonds will be used to refinance the offshore obligations of the Group, which will help de-risk the balance sheet, enhance financial flexibility, diversify the investor base and improve the overall debt maturity profile. The completion of the refinancing also marks an important step forward to create a sustainable financial structure in preparation of the proposed joint venture in Europe”.

Tata Steel shares were trading up 1.1% at Rs 760 in a firm Mumbai market on Friday morning.

 

[Hindustani78]

Ministry of Steel
07-February, 2018 16:23 IST
Rise in India’s Country's Crude Steelproduction

India’s crude steel production crossed the 100 million tonnes(mt) with a growth of 6.18% during last year as shown in table below: -

Period
Crude steel production(mt)
% change over same period oflast year*

January-December, 2017*
101.371
6.18

January-December, 2016
95.47
-

Source: JPC MIS Report, December, 2017; * provisional; mt=million tonnes



The Government has taken various remedial measures to promote domestic steel sector which amongst others include trade measures such as anti dumping duties, safeguard duties and temporary introduction of Minimum Import Price; notified Quality Control Order thereby making BIS standards mandatory for all steel products and imports; notified the policy on Domestically Manufactured Iron and Steel Products in Government procurement which facilitates domestic value addition; and notified National Steel Policy, 2017 with a view to encourage long term growth of domestic steel sector.

The National Steel Policy, 2017 envisages a crude steel capacity of 300 MT by 2030-31. The salient features of the National Steel Policy, 2017 are:-

• The National Steel Policy, 2017 aspires to achieve 300 MT of steelmaking capacity by 2030. This would translate into additional investment of Rs.10 lakh Crore and 1.1 million additional workforce getting employed in the steel sector by 2030-31.
• The policy seeks to increase consumption of steel and major segments are infrastructure, automobiles and housing.
• National Steel Policy, 2017 seeks to increase per capita steel consumption to the level of 160 Kg by 2030-31 from the level of around 61 KG.
• Policy stipulates that adoption of energy efficient technologies by small steel producers will be encouraged to improve the overall productivity & reduce energy intensity.

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[Hindustani78]

http://www.thehindu.com/business/In...ps-fivefold/article22707982.ece?homepage=true

Profit rises to ₹1,136 cr. post sale of unprofitable U.K. assets

Tata Steel reported an almost fivefold jump in its third quarter consolidated net profit to ₹1,136 crore on better realisations.

The company, which is in the process of bidding for distressed steel firms to double it capacity, saw its revenue increase 15% to ₹32,464 crore. The surge in profits came on the back of lower base as the steel maker sold its unprofitable assets in the U.K. and merged its European operations with Thyssenkrupp AG in the same quarter last year.

Global trend

Commenting on the results, Tata Steel MD & CEO, T.V. Narendran said, “Globally, steel prices have been buoyant with improved trade position in China along with cost push from raw materials. Over the last nine months, we delivered strong consolidated operational performance across geographies and we expect this momentum to continue as markets are expected to remain favourable.” The company’s EBITDA improved 59% to ₹5,801 crore. The board has approved a 5 MTPA expansion at Tata Steel Kalinganagar at cost of ₹23,500 crore to be completed within 48 months from zero date.

“The company’s Kalinganagar Plant had to shut down its Blast Furnace for unplanned major repairs following a sudden failure in the auxiliary equipment. As the downstream operations are integrated with the blast furnace, consequently, the Steel Melting Shop and Hot Strip Mill have also been shut down,” the company said in a statement. Its shares on the BSE closed up 1.83% at ₹683.65 in a weak Mumbai market on Friday.

 

[Hindustani78]

Ministry of Mines
10-February, 2018 12:16 IST
NALCO registers robust growth upto 3rd Quarter Quantum jump in net profit by 171% from Rs.400 crore last year to Rs.1085 crore

National Aluminium Company Limited (NALCO), the Navratna PSU, under Ministry of Mines, Govt. of India and country’s leading manufacturer and exporter of alumina and aluminium,has declared its financial results for & upto 3rd quarter ended December 2017.

According to the reviewed financial results for the 3rdquarter of the financial year 2017-18 taken on record by the Board in the meeting held atBhubaneswar today, NALCOhas achieved a record net profit of Rs.722 crore (growth of 207%),as against Rs.235crore in the preceding quarter and Rs. 144crore in the corresponding quarter of previous fiscal. The net sales in the 3rdQuarter was Rs.2360 crore. With this, the company has been able to break the highest-ever netprofit figures in a quarter during the last ten years.

Similarly, the net profit for the 9 months ended December 2017 works out to Rs.1085 crore (growth of 171%), against the corresponding figure of Rs. 400 crore for the previous fiscal. The net sales for the 9 months of the fiscal are Rs.6538crore as compared to Rs. 5071 crore in the corresponding period of the last financial year.NALCO has also achieved record growth in production in all fronts. During the first nine months of the current fiscal, NALCO achieved production of 54.40 lakh tonnes of bauxite, as compared to 53.23 lakh tonnes achieved during the comparable period of the previous fiscal. The company produced 15.51 lakh tonnes of alumina hydrate, against 15.27lakh tonnes achieved in the corresponding period of the previous financial year.

Metal production was3.17 lakh tonnes, against 2.86 lakh tonnes during the comparable nine months of the previous fiscal registering a growth of 11 %. The net power generated during the period was 4897million units up by 9%, compared to 4494 million units achieved in the corresponding period of the previous year.As a committed and responsible green power producer the company has generated 211 million units of wind power during the first 9 months of this fiscal.

Operational efficiency, cost reduction, strategic management decisions and team work of NALCO played a key role in achieving the record profit.

“With robust monetary policy of the Government and demand-supply dynamics brightening, aided by growth in the construction and power sectors, pick-up in the automobile segmentas well as firming up of aluminium prices globally, we hope to post similar results in the next mandate,” said Dr. Tapan Kumar Chand, CMD, NALCO.

It may be noted that the company has recently released its 'Corporate Plan - 2032' wherein it envisages to reach a turnover of Rs. 18,171 crore by 2024 and Rs.31,248 crore by 2032.

Worth mentioning that the company is vigorously pursuing its plans for addition of 0.5 MTPA capacity to its existing Smelter, 1MTPA capacity in its Alumina Refinery, Development of Utkal D&E Coal Blocks, Development of Pottangi Bauxite Mines, Angul Aluminium Park, 2.7 Lakh TPA Caustic Soda Plant in JV with GACL, Coal Tar Distillation Plant in JV with NINL, 1320 MW Greenfield Thermal Power Plant in Odisha, Overseas acquisition, exploration & processing of strategic minerals through KhanijBidesh India Ltd. (KABIL), a Joint Venture Company of NALCO, HCL & MECL and High end Aluminium Alloy Plant in Joint Venture with MIDHANI.

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[Hindustani78]

Ministry of Steel
16-February, 2018 18:57 IST
Mecon Prepares Draft Feasibility Reportsfor Setting up of a Steel Plant in YSR District of Andhra Pradesh and Khamman District of Telangana

MECON has prepared the draft feasibilityreports along with the best possible viable options for setting up of a Steel Plant in YSR District of Andhra Pradesh and Khamman District of Telangana. This draft report will be discussed with the State Government and Ministry of Steel so that the vision of setting up of steel plants as mentioned in the Thirteenth Schedule of the Andhra Pradesh Reorganization Act 2014 is achieved.

A high level meeting of the re-constituted Task Force for considering the feasibility issues for setting up of a Steel Plant in YSR District of Andhra Pradesh and Khamman District of Telangana was held under the chairmanship of Shri Birender Singh, Union Steel Minister on 23.11.2017 in New Delhi.

A subsequent follow up meeting was held on 27.12.2017 at Ministry of Steel wherein it was decided that the concerned State Governments would share with MECON the data for preparation of report. The realistic assumptions would be worked out by the concerned State Governments with MECON. After receiving relevant information from the State Governments, MECON would complete the Project Report.



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[Hindustani78]

The Sub Collector and SDM of Rourkela, Shri Himansu Sekhar Behera lighting the lamp to inaugurate the Rural Media Workshop ‘Vartalap’, organised by the PIB, Bhubaneswar, at Rourkela on March 09, 2018. The Additional Director General (Odisha Region), Smt. Ranjana Dev Sarmah and the Chief of Communication of Rourkela Steel Plant, Shri Ramendra Kumar are also seen.

The Sub Collector and SDM of Rourkela, Shri Himansu Sekhar Behera, the Additional Director General (Odisha Region), Smt. Ranjana Dev Sarmah, the Chief of Communication of Rourkela Steel Plant, Shri Ramendra Kumar, the senior journalist, Shri Adweta Prasad Biswal and the MCO, PIB, Bhubaneswar, Shri P.K. Choudhury at the inauguration of the Rural Media Workshop ‘Vartalap’, organised by the PIB, Bhubaneswar, at Rourkela on March 09, 2018.

 

[Hindustani78]

Ministry of Finance
16-March, 2018 18:06 IST
Anti-Dumping Duty on Steel

A definitive anti-dumping duty in the range of 4.58% to 57.39%, of the landed value of goods has been imposed on imports of Cold Rolled Flat Products of Stainless Steel to give relief to domestic steel industries from the People’s Republic of China, Republic of Korea, the European Union, South Africa, Chinese Taipei, Thailand and the United States of America, vide notification No. 61/2015-Customs (ADD) dated 11.12.2015.

The anti-dumping duty under the aforesaid notification has been imposed for a period of five years unless revoked earlier, under subsection (1) and (5) of section 9A of the Customs Tariff Act read with rules 18 and 20 of the Customs Tariff (Identification, Assessment and Collection of Anti-dumping Duty on Dumped Articles And For Determination of lnjury) Rules, 1995.

Sub section (1) of section 9A of the Customs Tariff Act provides that where any article is exported by an exporter or producer from any country or territory to India at less than its normal value, then, upon the importation of such article into India, the Central Government may, by notification in the Official Gazette, impose an anti-dumping duty not exceeding the margin of dumping in relation to such article, and margin of dumping may vary from country to country which is determined by the DGAD.

Based on the investigations conducted and recommendation made by the Designated Authority, Directorate General of Anti-Dumping and Allied Duties, an anti-dumping duty at specified rates (as summarised in the table below) has been imposed, vide notification No. 61/2015-Customs (ADD) dated 11.12.2015, on imports of Cold Rolled Flat Products of Stainless Steel from the People’s Republic of China, Republic of Korea, the European Union, South Africa, Chinese Taipei, Thailand and the United States of America.







TABLE



Country



Anti-dumping duty imposed (as% of

S.No.



landed value)





1

People's Republic of China



57.39%

2

Korea RP



5.39%, 13.44%

3

Chinese Taipei



15.93%

4

South Africa



12.34% , 36.91 %

5

Thailand



4.58%, 5.39%

6

USA



9.47%

7

European Union



29.41 %, 52.56%



This was stated by Shri Shiv Pratap Shukla, Minister of State for Finance in a written reply to a question in Lok Sabha today.



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[Hindustani78]

Ministry of Steel
03-April, 2018 18:03 IST
Steel Ministry and its PSUs Observe Swachhata Pakhwada

Swachhata pledge being administered to the employees of the Ministry of Steel

Ministry of Steel and its Public Sector Undertakings observed Swachhata Pakhwada from March 16-31, 2018. Employees in Udyog Bhavan office of the Ministry and in various Plants/Units of PSUs spread across the country participated in various activities organized during the fortnight. In Ministry of Steel, the event was launched by administering Swachhata pledge to the employees of the Ministry on March 16, 2018. During the fortnight, Cleanliness inspection of all the Sections was conducted by Senior Officers. An Open House to seek ideas, suggestions and comments on the subject of Swachhata was organized in which employees of this Ministry participated actively. A workshop on E-office and recording, upkeep and streamlining of files was also organized.

The Ministry has asked the Plants and units of the PSUs to carry out different activities including displaying Swachhata message on their websites, adhering to stipulated Swachhata parameters, initiating rating of different mills and units on Swachhata parameters and sharing major activities through YouTube/Instagram/FB/Twitter and mainstream media/Press Conference for wider dissemination.

Ministry of Steel ranks among the top 10 Ministries/Departments of Government of India, in the implementation of Swachhata related activities. Ministry of Drinking Water and Sanitation, which is the nodal Ministry for overseeing Swachhata related activities in the Central Government, has congratulated the Ministry and its PSUs for taking forward the goal of Swachh Bharat as envisioned by the Prime Minister.

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[beijingwalker]

When China produces over half of the world's steel, any rankings after China becomes pointless.

 

[YogaMudra]

When China produces over half of the world's steel, any rankings after China becomes pointless.

Actually chinese steel production is Decreasing.

Fact is that this overcapacity has been created by an avalanche of cheap loans from state-owned banks to state-owned steel companies.

 

[Hindustani78]

Ministry of Steel
17-April, 2018 19:17 IST
Steel Minister Felicitates Winners of Contest on

Start-Up India - #Mylovesteelidea

SteelMinister, Chaudhary Birender Singh felicitating winners of contest on

Start-up India’ in steel sector in New Delhi

Union Minister of Steel, Chaudhary Birender Singh felicitated the winners of contest on Start-up India titled #myLOVESTEELidea at a function organized by Ministry of Steel in New Delhi, today. This contest launched during the India International Trade Fair, 2017 by Ministry of Steel aims to encourage fresh business ideas based on steel. The Minister said, the contest received huge participation and many smart ideas have been received reflecting that steel as a material is gaining popularity and can have several uses.He further added thatsteel as a material can find various usages in several sectors apart from the conventional sectors. The life cycle cost of steel, its durability, strength, eco friendliness makes it a better choice in construction and infrastructural work.

The first prize was awarded to Sumit Gupta from Delhi for his idea of Steel based expandable tiny homes for providing low cost basic housing with solar panels and bio toilets. Second Prize was awarded to HareeshS. from Thiruvanthapuram for his idea of designs for Stainless steel waste bin, incorporating enclosed segregated storage and with provisions for advertising space. Third prize was awarded to VasimMalek from Nadiad City, Gujarat for his idea of laying underground permanent steel utility ducting along roads and in apartments for eliminating disruption of daily life of citizens due to repeated digging up. Apart from these, four appreciation prizes were also awarded.

This contest was held in association with MyGov, Government of India. Steel Research and Technology Mission of India(SRTMI), an organization with Ministry of Steel, will provide technical support to the contest winners for taking their projects forward.

Steel secretary Dr.Aruna Sharma, Chairman SAIL and other dignitaries were present on this occasion.

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[Hindustani78]

The Union Minister for Steel, Shri Chaudhary Birender Singh at the felicitation ceremony of the winners of contest on ‘Start-up India’ in steel sector, in New Delhi on April 17, 2018. The Secretary, Steel, Dr. Aruna Sharma is also seen.

The Union Minister for Steel, Shri Chaudhary Birender Singh felicitating the winners of contest on ‘Start-up India’ in steel sector, at a function, in New Delhi on April 17, 2018. The Secretary, Steel, Dr. Aruna Sharma is also seen.

The Union Minister for Steel, Shri Chaudhary Birender Singh felicitating the winners of contest on ‘Start-up India’ in steel sector, at a function, in New Delhi on April 17, 2018. The Secretary, Steel, Dr. Aruna Sharma is also seen.

The Union Minister for Steel, Shri Chaudhary Birender Singh addressing at the felicitation ceremony of the winners of contest on ‘Start-up India’ in steel sector, in New Delhi on April 17, 2018.

The Union Minister for Steel, Shri Chaudhary Birender Singh addressing at the felicitation ceremony of the winners of contest on ‘Start-up India’ in steel sector, at a function, in New Delhi on April 17, 2018.

 

[Hindustani78]

Ministry of Steel
18-May, 2018 17:52 IST
NMDC bags S&P PLATTS Global Metals Award 2018 under CSR category

NMDC Limited has bagged the prestigious S&P Global PLATTS Global Metals Award 2018 in corporate social responsibility (CSR) category held on 17.05.2018 at London. The shortlisted 12 nominations were of renowned companies across the world. This is the first time since inception of this award that an Indian Company bagged an award in this category.

S&P Global Platts is the leading independent provider of information, benchmark prices and analytics for the energy and commodities markets. It has been in existence for over 100 years.

The S&P Global Platts Global Metals Award recognizes top performers – industry leaders and innovators. The Corporate Social Responsibility (CSR) Award recognizes the organization that best demonstrates leadership, commitment to action and real-world social impact on social responsibility of corporate business entity. N. Baijendra Kumar, Chairman-cum-Managing Director and Sandeep Tula, Director (Personnel), NMDC Limited received the award.

NMDC is the largest iron ore mining company in India. With iron ore production of around 35 million tonnes per annum, it has a domestic market share of about 25%
(non-captive category). It also extracts diamonds through its mine in Panna, which is the only mechanized diamond mine in Asia.

NMDC’s CSR engagement has grown over the years which gets reflected in the CSR expenditure which has increased from Rs.86 crore (13.25 million USD) in 2011-12 to an average of Rs.190 crore (30 million USD) during the last three years. The company has been supporting initiatives on education, health, skill development, infrastructure creation and drinking water among others with a view to enhance the quality of life and empower the local population.

NMDC has in place a unique model to design and implement CSR programmes which involve a consultative process with various stakeholders, viz., District and State Administration, NGOs, people’s representatives and beneficiaries.



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[Hindustani78]

Ministry of Steel
31-May, 2018 10:33 IST
SAIL declares Rs. 816 Crore Net Profit for Q4 FY18

Steel Authority of India Ltd. (SAIL) announced its financial results for the fourth quarter of the Financial Year 2017-18 (Q4 FY18) and for FY18. After returning to profits in Q3 FY18, the Company in Q4 FY18 recorded a Net Profit of Rs.816 Crore reaffirming SAIL’s positive performance. This comes after making a provision of Rs.582 Crore towards enhanced gratuity recently approved by Government of India.

All the five integrated steel plants of the Company have also recorded individual profits in Q4 FY18. SAIL management’s sustained efforts for process integration starting from production till reaching the customers, the intensive marketing efforts along with ramping up of production and stabilization of new mills are all yielding results and a novel end-to-end approach with its new product offerings is helping the Company achieve a stronger position.

Company’s Net Turnover in Q4 FY18 of Rs. 16,811 Crore saw an increase of 34% over CPLY. The Q4 FY18 EBITDA at Rs. 2,624 Crore, a humongous growth over Q4 FY17, is highest in the last twenty-seven quarters. The EBITDA per tonne of sales for Q4 FY 18 is Rs.7020. The total sales volume in Q4 FY18 was 3.738 Million Tonnes (MT) which increased by 8.4% over CPLY.

Slimming the losses by around 83% in FY18, the Profit After Tax on standalone basis improved to Rs. (-) 482 Crore from Rs. (-) 2,833 Crore in FY17. The consolidated profit after tax of the Company stood at Rs. (-) 281 Crore for FY18 as against Rs. (-) 2,756 in CPLY. The strategic and persistent approach to improve operational profitability assisted SAIL to stay EBIDTA positive in FY 18; recorded at Rs.5,184 Crore. The Company registered highest sales volume for the year in FY18 at 14.08 MT which is higher by 7.4% over CPLY.

SAIL’s performance on the production front recorded highest ever quarterly crude steel production of around 4.0 MT in Q4 FY18 with a growth of 6% over CPLY. In Q4 FY18, highest quarterly Concast production of 3.406 MT with growth of 8% over CPLY was also recorded. In the same quarter, the best ever quarterly Coke Rate recorded a reduction of 3% over CPLY, BF productivity was higher by 4% over CPLY and Specific Energy Consumption improved to 6.38 Gcal/tcs, lower by 2% as compared to CPLY.

On this occasion, Chairman, SAIL, P.K. Singh said that, the effect of synergised team work across SAIL, integration of every process and continual focus to service the customers with world class products is finally beginning to show. The Chairman further said that SAIL, is ready with an array of value added products which are tailored for today’s requirements. The domestic market is showing very good growth signs, which is backed up strongly by the Government’s initiative to enhance domestic steel consumption.

Mr Singh also stated that, new mills in SAIL are offering products for every segment and the new marketing initiatives of the Company are not only exploring new markets but also reaching out to people in far flung areas of the Country to raise awareness about steel usage. This will also help SAIL to actively contribute towards the targets envisaged in National Steel Policy. He further said that SAIL’s new products will meet the demands of retail, rural as well as large projects.

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