SAIL receives a positive response from the Odisha government
State-run steel major, SAIL which is planning to set up a second coast-based plant in Odisha has received a positive response from the state’s Chief Secretary and will send a team to look out for the plant site near the coast.
The steel behemoth already runs Rourkela Steel Plant in the state which was set up in 1960s and was recently modernised and expanded to a capacity of producing 0.5 MnT of Hot-rolled metal annually. Now the company plans to set up an additional plant in Odisha near the coast with an investment of 15,000 crore. The initial production could be around 3 MnT which will be later on expanded to 6 MnT.
SAIL has plans to ramp up its capacity from the current production of 16.3 MnT to 50 MnT in two phases by 2030-31 with the first phase to take the company’s production to 35 MnT by 2025-26. It is expected that most of the capacity upgradation will come from expansion at Rourkela, Bokaro, Bhilai, Durgapur, and ISSCO plants.
Tata Steel to develop special grade products for auto, oil & gas sector
As per the latest updates, Tata Steel plans to develop 40 new product grades at its greenfield steel project at Kalinganagar (Odisha) in the ongoing financial year. The new products developed will primarily cater to the automotive and oil & gas sector.
In fact the company has developed a specialised disc rim for wheels to cater to the automobile industry, the trials of which have already begun at Tata Motors and the commercialisation of the same is expected within six months.
Tata Steel is currently undergoing expansion at its Kalinganagar plant from 3 MnT to 8 MnT per annum with the total investment of INR 23,500 crore. The expansion plan of 5 MnT included 2.2 MnT of cold rolling complex, raw materials, and related facilities. With the development of auto-grade steel products, the company will be able to cater to the domestic market which is majorly dependent upon imports especially from Japan and South Korea.
JSW Steel’s amalgamation plan gets approval from NCLT
The National Company Law Tribunal (NCLT), Mumbai bench has approved JSW Steel’s scheme of amalgamation of its four units. Subsequently, the company has merged Dolvi Minerals & Metals (DMMPL) and Dolvi Coke (DCPL), JSW Steel Processing Centres (JSPCL), and JSW Steel (Salav) (JSW Salav) with JSW Steel.
Apart from this, JSW Steel has acquired the entire stake of Piombino Steel based in Italy from JSW Techno Projects Management Limited and further Piombino Steel has acquired the entire stake of another company called Makler Private Limited.
With this arrangement, Piombino Steel has become a wholly-owned subsidiary of the JSW Steel and another company, Makler has become a wholly-owned subsidiary of Piombino Steel.
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