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Old April 10th, 2010, 12:54 PM   #1
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Thumbs up Steel Industry in India

Post here the News and Upcoming Steel projects in India.
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Old April 10th, 2010, 05:53 PM   #2
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Indian iron ore industry in a quandary

Quote:
Saturday, 10 Apr 2010

2010 has been a path breaking year in many ways for the global steel industry. Steel prices and demand has shown definite signs of revival providing reprieve to the parched market. With the culmination of Q1 it can be adjudged that the market is certainly for merry making because of the following:

Steel prices have appreciated by USD per tonne 100 to USD 150 per tonne since March. Capacity utilization is touching levels of 70% to 80% across the world Mills are booked up to May shipment and feeling shy of June bookings lest they get a price hike of another USD 100 per tonne.

One of the triggering factors for the radical turnaround has been sky rocketing input material prices apart from release of pent up demand from stockiest and traders to replenish their depleting stocks before the prices go up further thereby setting speculative trend rather than any sustained demand revival.

Iron ore prices have zoomed by more than 30% and scrap prices have improved by 35% since March. Iron ore being the seed of steel has been the pivot of movements in steel market. China consuming almost 70% of the global production has continued unabated growth in consumption as import touched 627 million tonnes.

India being one of the major supplier after Brazil and Australia 20% of the kitty has not only been affected but has played a key role in spot market as buyers have been sourcing only from the spot market in the absence of annual contracts.

Some of the key factors effecting the iron ore market in India has been as follows

1. Severe crack down by government on illegal mining leading to curtailed availability and hiked prices

2. Hike in railway freight by INR 300 per tonne

3. Imposition of 5% and 10% export duty iron ore fines and lumps

4. Iron ore majors Vale, BHP Billiton and Rio Tinto targeting quarterly pricing rather than annual with a 100% hike in prices leading to an imbroglio with Chinese buyers once again

5. Clamor by steel ministry for 20% export duty on iron ore fines to discourage export to augment domestic availability mills vie for capacity expansion.

6. Restrictive approach of Chinese buyers by banning import by traders with turnover of less than 1 million tonne is 2009

7. Banning import of lower grade iron ore below Fe 60%

8. Banning import of Iron ore for 2 months arm twist majors from dictating price levels for quarterly contracts.

9. Anticipated devaluation of Chinese currency under pressure from Western world.
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Old April 10th, 2010, 05:55 PM   #3
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KIOCL to form JV with RINL for Mangalore plant

Quote:
Saturday, 10 Apr 2010

BS reported that KIOCL Ltd has dropped plans to go with a private firm for setting up a INR 330 crore ductile iron spun pipe plant in Mangalore as part of its diversification program and has decided to form a 50:50 joint venture with the Rashtriya Ispat Nigam Limited to set up the plant in Mangalore with a capacity of 100,000 tonnes per annum.

The report quoted Mr K Ranganath CMD of KIOCL as saying that “We have dropped the plans to go with the private firm due to the higher cost and also with the thought of roping in another PSU. Meanwhile, RINL has shown interest in joining us for the project. We have already discussed about this with the CMD of RINL and he has agreed to a JV. The boards of both companies will meet shortly and approve the JV formally.”

Mr Ranganath told Business Standard that “The main reason for dropping the earlier plan was purely on the grounds of high cost involved in it. At this juncture, when we don’t have captive iron ore mines, we did not want to invest a higher amount. The proposed JV requires us to invest only INR 150 crore to INR 175 crore as equity and works out better for us.”

He said the company would form a separate company to take up the project with RINL. Apart from selling the ductile iron spun pipes in the domestic market, the JV company will also export to European countries as there is a big demand for it. He added that “We already have a captive jetty at New Mangalore Port and it will be cost effective for us to export our products.”

KIOCL plans to build the DISP plant adjacent its existing pig iron plant in Mangalore on the west coast. The proposed plant will utilize the superior pig iron with low phosphorus and low sulphur already produced by the company.

KIOCL had floated global tenders for this project twice in the last two years and both the occasions, Larsen & Toubro had emerged as the L1 bidder. But last week the KIOCL decided to drop the plan of going with the private player to build the DISP plant.

(Sourced from Business Standard)
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Old April 11th, 2010, 12:45 AM   #4
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Thumbs up SAIL, Posco to make steel with FINEX technology

Quote:

Cos look at building a 5-million-tonne plant in Jharkhand.

FINEX technology likely to lower the production cost

Actual production to start in 2 or 3 years


Recently in Ranchi

Steel Authority of India Ltd (SAIL) has signed a memorandum of understanding with the Korean steel major, Posco, for entering into a joint venture for steel production using its FINEX technology in order to bring down the cost of production.

The proposal has been cleared by the board sub-committee of the company, according to Mr A.S. Mathur, Executive Director In-charge, Research and Development Centre for Iron and Steel (RDCIS), the corporate R&D wing of SAIL. “We are going for a FINEX plant in joint venture with Posco. We have already signed an MoU with them and that has been cleared by the board sub-committee,” Mr Mathur told Business Line.

The FINEX technology uses non-coking coal fines and fines of iron ore, which are easily available to produce iron to produce high grade steel which could be further processed by SAIL to make specialised steel, he said. “The feasibility study has been conducted, the actual production might start in the next two-to-three years,” he said. The finer details of the deal such as the nature of joint venture, and the estimated investments were still to be worked out, he added.

The two companies are believed to be looking at a joint venture to build a 5-million-tonne plant in Jharkhand. Posco, which has been facing repeated delays in its proposed steel project in Orissa due to land acquisition and mining lease-related problems, has been scouting for alternative opportunities.

Low production cost

The cost of production of iron by using the FINEX technology was expected to be lower than the normal process as it would not require the conversion of coal into coke. “Usually iron is made in blast furnace using iron lumps and coke (which we get from conversion of coal). The conversion cost of coal to coke is substantially high. However, in this technology there would be no need to convert coal into coke as it is capable of using non-coking coal fines and iron ore fines (no sintering or pelletisation will be required for iron ore fines),” said an industry expert.

Close to 30 per cent of the ore obtained from mining were lumps while the rest 70 per cent were fines, Mr Mathur said.
BusinessLine
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Old April 11th, 2010, 11:17 AM   #5
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Radioactive steel scrap discovered in India

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11 Apr 2010

The silver colored material spewing gamma radiation that slipped into a scrap dealer’s shops causing at least six persons to fall ill has exposed gaps in India’s mechanisms to preserve radiological safety.

Department of atomic energy official said that the scrap dealer and five workers have fallen ill with symptoms of radiation exposure after they tried to work with scrap that contained a highly radioactive element called cobalt 60.

Cobalt 60 is used as a source of radiation in cancer radiotherapy and in industrial inspection equipment, but scientists investigating the incident said the origin of the material found in the scrap dealer’s shops was still unknown.

An official said that a team of atomic energy scientists and technicians shielded, packed and removed from two of the scrap dealer’s shops eight bunches of junk containing cobalt 60 shaped like wires.

Mr Swapnesh Kumar Malhotra a DAE spokesman told The Telegraph that “The radioactivity varied from bunch to bunch, but even the lowest level was millions of times higher than the background radiation.”

Scientists familiar with operations said the radioactivity levels in the scrap dealer’s two shops were so high that each person involved in extricating the material was allowed to stay inside the shops for only four seconds.

The material has been sent to the Narora Atomic Power Station where it will be analyzed. The radiation in the affected area has returned to normal background levels.

The scrap dealer who has been in the Apollo Indraprastha Hospital here since April 4 with severe bone marrow suppression has told police the material was embedded in a consignment of imported scrap. He had acquired the scrap about two weeks ago and stored it in a drum. A DAE official said it was unclear how many persons were exposed to the radiation during this period.
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Old April 11th, 2010, 11:20 AM   #6
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are u reading lot of materials books for ur Mtech now a days?
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Old April 11th, 2010, 11:20 AM   #7
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Do u know about the steel scrap we get from abroad and its processing in India?
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Old April 11th, 2010, 11:30 AM   #8
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Quote:
Originally Posted by Euromast View Post
are u reading lot of materials books for ur Mtech now a days?
No Steel is a vital ingredient for Industrialization so I felt like starting a thread.


Quote:
Do u know about the steel scrap we get from abroad and its processing in India
Well I only know that Steel scrap which is imported is checked for Radioactive substances.There are guidelines available as to how much the radioactivity must be limited to.It would be a disaster if they used reprocessed steel for packaging food items.
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Old April 11th, 2010, 11:52 AM   #9
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I had to read "" Michael F Ashby"" for materials selection in design during my studies here. NIce read.

Selection of material is vital to design

This scrap business is very big in India, we get lot of scraps
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Old April 13th, 2010, 01:03 PM   #10
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TATA Steel not against ore export - Mr Nerurkar

Quote:
Tuesday, 13 Apr 2010

TATA Steel said it is not against iron ore exports as that is against free market norms as also because domestic steel demand is expected to go up by 10% to 12% this fiscal.

Mr HM Nerurkar MD of TATA Steel when sought his reaction to the demand for banning iron ore exports said that "We are an open economy, so why do you ban exports? Also exports will come down if the demand in the country increases due to more steel consumption.”

TATA Steel had earlier opposed exports of iron ore saying it would be harmful to the development of domestic steel industry.

Mr Nerurkar said the prices of iron ore and coking coal, the two major inputs for steel making, are expected to rise by 80 to 90% during the year.

Speaking about the steel demand scenario in the domestic market, he said the demand is expected to be 10 to 12% during the year. He added that "Demand for more steel will come mainly from India, China and Brazil adding global steel demand is expected to improve and may arrive at the pre crisis level.
(Sourced from ET)

Euromast You have nay Idea about cold formed steel industries in India,you design metal structures So I reckon you will have some idea abou tit.
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Old April 13th, 2010, 01:14 PM   #11
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Quote:
Originally Posted by Euromast View Post
I had to read "" Michael F Ashby"" for materials selection in design during my studies here. NIce read.

Selection of material is vital to design

This scrap business is very big in India, we get lot of scraps
Exactly it makes the most important part of any design,one can cut down cost significantly while also ensuring safety.As structural engineers the choice lies with us to go for the type of material,Euro I feel Cold formed steel structures have not gained enough patronage in India yet,may be due to lack of knowledge about its behaviour especially its liability to the Local buckling.

Composite construction has not gained any popularity as well.Conutries like Korea(South),Japan make heavy use of Concrete filled In steel tubular structures which have shown to perform exceptionally well during seismic activity,circular steel tubes ensures confinement of concrete hence increses the shear capacity of concrete and also delays the buckling phenomena by changing the mode of buckling to outwards(no question of inward buckling).


Indian steel industries must cash on into such concepts and popularise them.
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Old May 8th, 2010, 10:09 AM   #12
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Posco allowed to export iron ore from India: A Sai Prathap

Press Trust of India /
Quote:
New Delhi May 7, 2010, 16:36 IST

The government today said that steel giant Posco has been permitted to export iron ore to South Korea from the captive reserves it will be allocated to feed its proposed Rs 51,000 crore project in Orissa.

"Posco India is allowed to export iron ore from Orissa as per conditions of MoU," Minister of State for Steel A Sai Prathap informed the Rajya Sabha.


The Mines and Mineral Development and Regulation Act, 1957, governs allocation of captive resources like iron ore. Such minerals are alloted only for dedicated consumption by the end-use project. Sale and export of minerals from such deposits are normally not allowed.

Giving details of the agreement signed between the Orissa government and the firm in 2005, the Minister said Posco will need about 600 million tonnes of iron ore to run its proposed 12 million tonnes per annum (MTPA) plant for the next 30 years. Iron ore is a vital raw material for making steel.

"The company may swap certain quantities (not exceeding 30 per cent of the total requirement of the Paradeep plant annually) of such iron ore which have high alumina content with equal quantity of low alumina content iron ore.


Any export of iron ore by way of swap will be allowed only after an equivalent quantity of ore has been imported for the plant," he added.

Prathap also said, "Export of additional 400 million tonnes of iron ore from India for existing steel plants of Posco in South Korea would be regulated by the prevailing Export-Import (EXIM) policy."

The quantity of iron ore to be exported and imported will be within the framework of EXIM policy, he said, adding, "No minable reserves would be provided purely for the purpose of the direct exports."

"It is clarified that no export of iron ore will be allowed from the captive mine except by way of full replacement through import of equal quantity of high grade ore," he added.

As per the MoU with the state, Posco was to commission the first phase of its project, comprising 6-MTPA capacity, by July, 2010, and the whole project was to get off the ground by July, 2016.

However, Posco has been facing delays in the launch of the proposed plant for about five years now on account of problems in acquiring land and regulatory clearances. Its application to mine iron ore in Orissa is stuck in litigation.

In the wake of such delays, the company is exploring the option to set up a Rs 30,000 crore plant in Karnataka. It is also in talks with state-owned SAIL to build two multi-billion dollar plants in India in a joint venture.
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Old May 20th, 2010, 11:10 PM   #13
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Orissa govt asks Posco to give up private land
Quote:
BS Reporter / Bhubaneswar May 21, 2010, 1:15 IST

In a major development pertaining to the Rs 51,000-crore greenfield project proposed by Posco in Jagatsinghpur district, the Orissa government today asked the South Korean company not to insist on 300 acres of private land in Dhinkia village.

This was decided at a meeting chaired by Chief Minister Naveen Patnaik attended by local MP B P Tarai, agriculture minister Damodar Rout and three other MLAs of the district.

This decision was taken as the villagers of Dhinkia, the epicentre of the anti-Posco movement, are opposing the project tooth and nail.

Simultaneously, discussion will also be held with the Posco Pratirodh Sangram Samiti (PPSS) at the Revenue Divisional Commissioner (RDC) level.

Talking to the media after the meeting, Rout said since the people of Dhinkia are opposed to the project, it was decided that Posco should not insist on the 300 acres of private land.

“It was unanimously decided that the Posco project will come up, as this is an important proposition for the state. However, all possible care would be taken to protect the interests of the displaced.”

The PPSS had proposed to have talks with the government if invited by the chief minister. As a measure in that direction, a meeting with the representatives of PPSS would be held soon. The meeting would be chaired by the RDC and if things remain unresolved, a meeting with the chief minister would be arranged. Other rehabilitation work would go on as usual, said Rout.

Chief secretary Tarunkanti Mishra, RDC P K Mohapatra and industry minister Raghunath Mohanty were also present in the meeting.
BS
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Old May 20th, 2010, 11:13 PM   #14
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Essar Steel to commission phase 1 expansion next month

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Friday, 21 May 2010
ET reported that Essar Steel will commission the first phase of its INR 13,000 crore expansion project by the end of next month.

Mr Malay Mukherjee CEO of Essar Steel Business Group told reporters on the sidelines of a FICCI Steel Summit that "The first phase of our expansion 1.8 million tonne per annum will be commissioned by June end which is in line with our target of having a run rate of 8 million tonne per annum by March 2011.”

Asked about the delay in setting up the expanded capacity, Mr Mukherjee said that "The expansion project is more or less on track. The company is working to install a 10 million tonne per annum capacity. Moreover, the company is keenly looking at merger and acquisition opportunities overseas for expanding its business.

Mr Mukherjee said that Essar's new steel plant will be based on the traditional blast furnace and the eco-friendly COREX furnace route of steel making. Its present mill is an electric arch-based unit.

While going with the traditional blast furnace route the firm will need coking coal besides iron ore to produce steel. In the COREX route, Essar will have to procure non coking coal with the advantage of using the emitting gas to generate power.

Mr Mukherjee said that "The company may import some of its coal requirement to feed the expanded capacity this fiscal.”

The company has an installed annual production capacity of 4.6 million tonne per annum in Hazira, Gujarat. Earlier the company had set a target to install an additional 5 MTPA production line by March 2010.
(Sourced from ET)
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Old May 21st, 2010, 12:59 PM   #15
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Don't acquire excess land: Steel Minister to industry

NEW DELHI: Amid agitation against land acquisition for the Rs 54,000-crore Posco steel project in Orissa, the Centre today warned the industry against creating a land-bank in excess of requirement.

"I fully endorse ... I support the opposition that the land more than the required, should not be acquired," Singh told PTI in an interview on completion of a year of the UPA-II government.

The comments come amid strong political protests against land acquisition by global steel majors Posco and ArcelorMittal, whose much-touted multi billion dollar projects are still awaiting ground-breaking.

He, however, said the Rs 1.5 lakh crore projects of Posco and ArcelorMittal have remained stuck for the last nearly five years because of the bottlenecks related to land acquisition in Orissa and Jharkhand.

The issue needs to be resolved by striking a balance between the "welfare of the tribals and the genuine land requirement by the investors", he said.

With change in technology and plant design, big size equipment requiring huge tracts of land is not required.

"Now it is no longer necessary to acquire that much of land," the Minister said.

Paradip, where the South Korean giant Posco has proposed to set up a 12-million tonnes plant has been in the grip of violent protests by farmers and Left-backed Posco Pratirodh Sangram Samiti against land acquisition for past several weeks.

Faced with protests, ArcelorMittal was also forced to shift plans to set up the project in Bokaro from Khunti-Gumla in Jharkhand. ArcelorMittal has sought 8,000 acres of land.

Under pressure, the Orissa government has agreed to reduce the sanction of land by 300 acres out of 4,004 acres sought by the company.

Singh said there must be an audit of the land demand. "There must be an assessment whether what they are asking for is actually required," he said.

Referring to his recent meetings with ArcelorMittal and Posco chiefs-- L N Mittal and Chung Joon-yang respectively, the Minister said he had asked them "to be generous to the tribal people as they are very much attached to their land."

Asked about the delays in the big-ticket projects, Singh said the issue was related to state governments of Orissa and Jharkhand and his Ministry was in constant touch with them.

"Prime Minister has also written letters to state governments to expedite the matter... We are facilitators, we try to remove hurdles," he said, hoping for a breakthrough in the next 4-5 months.

http://economictimes.indiatimes.com/...ow/5958414.cms
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Old May 21st, 2010, 01:00 PM   #16
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Jindal Steel acquires Oman's Shaheed Iron for $464 m

Our Bureau

New Delhi, May 20

Jindal Steel and Power Ltd (JSPL) on Thursday announced that it has completed the acquisition of Oman-based Shadeed Iron and Steel Co LLC (Shadeed).

The acquisition was completed for $464 million, which includes the assumption of liabilities and was carried through by JSPL's 100 per cent subsidiary, Jindal Steel and Power (Mauritius) Ltd (JSPLM).

FUNDING THE BUY

For the acquisition, JSPL has tied up $400 million in debt financing from international banks while the rest of the amount would be from internal accruals.

The Shadeed facility is engineered by Kobe Steel (Japan) and Midrex (US), which are among the global leaders in the field of direct iron technology. This is also the same technology JSPL will be using in its Orissa facility.

Shadeed is also installing 1.5 million tonnes a year gasbased hot briquetted iron plant at Sohar Industrial Port area of Sohar, Oman.

http://www.thehindubusinessline.com/...2152150201.htm
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Old May 21st, 2010, 01:02 PM   #17
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VISA Bao to launch metallurgy unit in 2011

By Ritwik Mukherjee May 20 2010 , Kolkata
Tags: VISA Bao, Industry
VISA Bao, a joint venture between Kolkata-based Rs 5,000 crore VISA Steel and Bao Steel, one of the world’s largest producers of stainless steel, has now set a target of October, 2011 to com*mence commercial pr*oduc*tion at Kalinganagar plant.

VISA Bao incidentally is the first Sino-Indian joint venture in metallurgical industry, where VISA Steel now holds 65 per cent while Bio Steel holds 35 per cent.

The ferro chrome plant with a capacity of 1 lakh tonne per annum is being set up with a capital outlay of Rs 260 crore, Visa Steel chairman Vishambhar Sar*an said. Visa Bao also plans to set up chrome ore beneficiation and pelletisation facilities and also get into mi*ning of chrome ore through backward integration.

"We have 525 acres land in our possession for the project. We will complete the financial closure by June-end. Of the Rs 260 crore investment, as much as Rs 91 crore is the equity of the promoters," Saran said. Baosteel Resources will offtake 70 per cent of the ferro chrome production for its stainless steel plant in China. Discussions are also on with Baosteel for jointly venture into stainless steel and speciality steel manufacturing, he said.

The firm is planni*ng to set up a 2.5 million ton per annum integrated steel pla*nt at Raigarh in Chhati*shg*arh. "We need around 1,000 acres for the project, of wh*ich 250 acres have already been acquired," Saran said.

http://www.mydigitalfc.com/industry/...-unit-2011-355
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Old July 13th, 2010, 06:39 AM   #18
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Steel Ministry for banning iron ore exports

Quote:
Press Trust of India / New Delhi July 12, 2010, 15:38 IST

The Steel Ministry today voiced for "completely banning" export of iron ore, saying the mineral is a non-renewable resource like coal and petroleum products, and should be preserved.

"It will be good to completely ban iron ore exports as these are non-renewable resources, once you exhaust them, you won't get them.

"How coal, gas, petroleum products are different from iron ore. Why don't we export them? You can't have different standards," Steel Secretary Atul Chaturvedi told PTI. Iron ore is primary input in steel making.

India produced about 230 million tonnes of iron ore in the last fiscal, of which around 106 million tonnes were exported, mainly to China.

"(Iron ore-rich) Karnataka had recently written for ban on iron ore exports. Now, states are themselves asking for banning iron ore exports. The Mining Ministry has to take a call on this. We have been saying that iron ore should not be exported," he said.

Both the ministries of Steel and Mines have been at loggerheads over the issue of exports of iron ore, on which the latter have been opposing any move to put a blanket ban on the overseas shipments of the mineral.

Mines Minster B K Handique had earlier said that banning iron ore exports could render thousands jobless.

Also, the Mines Ministry had said that the country does not possess technology to make steel from iron ore fines and thus exports should continue. Miners mainly export iron ore fines to China which is technically equipped to make steel from the powdery variant of iron ore.

However, the steel ministry have been pitching for hiking export duty on iron ore and exports of value-added products like steel, which will create jobs in the country.

At present, export duty on iron ore fines is 5 per cent and on lumps it is 15 per cent. Steel Ministry has also been demanding a flat 20 per cent export duty on both the segments of iron ore.

"We should not be exporter of primary products, we should be exporter of value-added products. Production of value-added products will help in creation of employment here, else jobs will be created in China. You should create employment in India rather than creating it somewhere else," he said.
BS
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Old July 13th, 2010, 05:54 PM   #19
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Thumbs up Salem Steel's expansion set to be completed by September

Cross-posting from Salem thread. Courtesy: satishanu

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Originally Posted by satishanu View Post


The Rs. 1,902-crore expansion project of the Salem Steel Plant (SSP), a special steels unit of the Steel Authority of India Ltd (SAIL), is expected to be commissioned by September this year.

The commissioning will enable SSP to get into the production of stainless steel slabs.

SSP pioneered the supply of wider-width stainless steel sheets and coils in India.

It also had the country's first top-of-the-line stainless steel blanking facility with a capacity of 3,600 tonnes of coin blanks, utility blanks and circles. SSP is also well-known for the production of a variety of specially designed finishes which find application in architectural uses like, cladding of building facades, doors, windows, kitchen sinks, staircases and elevators, decorative steel laminates as also in panelling of buses and EMU coaches.

SAIL sources told The Hindu that commissioning of few of the equipment had been done and the “remaining equipment will be commissioned in a phased manner in about two months.” While the equipment in the steel melting shop will be commissioned at one-go, those in the cold rolling mill will be commissioned in phases. Power problems have held up the execution of the expansion project.

The project was inaugurated by Prime Minister Manmohan Singh in September 2008 after getting its environment clearance in April. Kajamalai Reserve Forest is located four km south of the project.

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The expansion plan envisages increase in capacity of hot rolled coils and sheets from three lakh tonnes now to 3.7 lakh tonnes, and a doubling of the 70,000-tonne capacity of cold rolled coils and sheets and one-lakh tonne capacity of hot rolled annealed and pickled products. Coins and blanks capacity would remain same at 6,000-tonne annually.

Source: http://www.hindu.com/2010/07/13/stor...1362261700.htm

http://www.hindu.com/2010/07/11/stor...1153400600.htm
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Old August 10th, 2010, 07:57 PM   #20
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Thumbs up Salem Steel unit on stream

Cross-posting from Salem thread. Courtesy: anirudhswetha

Quote:
Originally Posted by anirudhswetha View Post
Salem Steel unit on stream

The Hindu SAIL Chairman C.S. Verma (right) with Director (Personnel) B.B. Singh at a press conference in Salem on Monday.
Steel Authority of India Ltd (SAIL) Chairman C. S. Verma on Monday commissioned a new 70,000 tonnes per annum tension levelling line at the Salem Steel Plant (SSP) here.
Installed at a cost of Rs.39.40 crore as part of the SSP's modernisation and expansion plan, the tension levelling line, supplied by Redex of France, is a value-addition process that will enhance flatness in stainless steel coils.

Mr. Verma was here on his maiden visit to SSP for an appraisal of the facilities that had come up under the plant's the Rs.2,000-crore expansion-cum-modernisation project.

Mr. Verma mooted the concept of ‘mine development operator' to ensure production quality and ‘long-term raw material security'.

The concept of adopting mine development consultant would ensure 30-35 per cent increase in procurement of quality raw materials, he added.

This move, besides SAIL's Rs.1,500-crore expansion programme for domestic coking coal mines, would aim to reduce the dependence on import of key inputs, which had been a main factor behind fluctuating prices. “We have evolved a package including new mining leases to source the coal,” he said and pointed out that the new projects would enhance the availability.

Existing captive coal mines at Chasnalla, Jitpur and Ramnagore would be developed to enhance production.

Outlining the recently unveiled SAIL's major expansion programme, Mr. Verma said that about Rs.60,000 crore had been earmarked to transform the company into a ‘more competitive entity against global players.' This would become a reality as SAIL had joined hands with steel giants like Posco and other leaders in the market for new ventures.

The target would be an annual production of 23 million tonnes by 2012 from the present 14 million tonnes. By 2020, it should touch 60 million tonnes.

Mr. Verma said SAIL could see the price behaviour of steel stabilising in the last two weeks promising good tidings in the days to come. Despite sluggish market conditions and flooding of Chinese products, SAIL registered a sales turnover of Rs.9,931 crore in the first quarter of the current year, showing an increase of 2 per cent over the corresponding period last year.

On SSP, he said the expansion of the plant would enhance the production capacity to 1.80 lakh tonnes of slabs, 3.64 lakh tonnes of HR coils, 1.46 lakh tonnes of cold rolled stainless steel and salable steel from 1.75 lakh to 3.40 lakh tonnes. “The expansion is right on schedule and soon will have a formal inauguration,” he said and added that “the thought of privatisation is not in the minds with regard to SAIL.”
Director (Personnel) B. B. Singh, ED, Chairman's Secretariat N. Kothari, GM (Corporate Affairs) R. K. Singhal, Salem plant Executive Director Pankaj Gautam and other senior officials were present on the occassion.

http://www.thehindu.com/business/com...?homepage=true


Anirudh
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