Tata Steel has said the focus on infrastructure led growth will not only support the demand growth of steel but will also help achieve world class cost efficiencies.
Concerned over linking the revenue sharing model to notified price of the state-owned CIL, private miners fear that it may jack up fuel prices.
India to be a net exporter of steel this year as finished steel production growth reaches an all-time high in February but domestic consumption remains tepid, broker company Emkay Research said in a report today.
India may soon mandate the use of local steel in government infrastructure projects worth billions of dollars, sources said, pitching it as a WTO-compliant protectionist measure aimed at further cutting cheap imports, mainly from China.
As its greenfield unit at Kalingangar ramps up operations to reach its rated capacity of three million tonnes, Tata Steel is looking at multiple options to secure uninterrupted iron ore supplies.
Coal imports declined by 21.7 percent to 14.31 million tonnes in January as the power utilities did not lift much fuel due to abundant stock available with them.
After suspending operations at its Benga mine in Mozambique in May last year, International Coal ventures (ICVL), the SAIL-led consortium of five state-run units
Coal imports fell by 25 per cent to 14.31 million tonnes in December, due to higher availability of domestic fuel.
The country had imported 19.15 million tonnes of coal in December 2015.
Coal India Ltd (CIL) is planning to sell 10% of its annual output in the next three years via e-auction, for which it is inviting bids from service providers.
Tata Steel Minerals Canada together with its parent companies signed Definitive Agreements for concluding investments of C$125 million as Equity and C$50 million as Debt with Government of Quebec’s investment entities, Resources Quebec (RQ) and Investment Quebec (IQ) respectively, totaling C$175 million.