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DLF to launch New Project - "EXPRESS Greens" Sector M-1, Manesar, Gurgaon NH 8
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Sell offer of Iron and Steel Products
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Approved Hotel/Commercial Project at Agra on 3 Arces Land, suitable for 5 Star Hotel.
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Prices of steel as on 16-05-2009 Mandi Gobindgarh
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JSW STEEL OUTPUT UP 45% TO 14 LAKH TONNE
By ceoaisra, Section AISRA NEWS
Posted on Sat Jul 04, 2009 at 12:55:49 AM EST
JSW Steel on Friday said its production rose by 45% to 14 lakh tonne in the first quarter ended June 2009 on the back of robust demand from the sectors like automobile, construction and white goods. In the corresponding period of the previous fiscal, production stood at 9.71 lakh tonne. Besides a spurt in demand, the steel major attributed the growth in its output to additional the produced from its recently -commissioned 2.8 mtpa blast furnace in Vijaynagar. The production of flat- rolled products, mainly used by the auto and consumer durable industries, surged to 8.70 lakh tonne in April - June period, up by 47% over the year- age period. Products of long- rolled steel products of long -rolled steel products, primarily consumed by the construction sector, increased by 103% to 1.86 lakh tonne.
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PVT ENTRY INTO N-POWER, COAL MINING MOOTED
By ceoaisra, Section AISRA NEWS
Posted on Sat Jul 04, 2009 at 12:54:20 AM EST
The Economic Survey has made a pitch for greater private participation in the infrastructure sector. Including the sensitive sectors of nuclear power generation and coal mining. It has called for allowing up to 49 per cent foreign direct investment in nuclear power and amending the Atomic Energy Act to allow private companies in the sector. In coal, its prescription includes permitting private entry into mining under a well regulated and competitive regime, to reverse the substitution of domestic coal by imported oil and coal It says: 'As long as the coal sector remains a public sector monopoly (the only remaining nationalised sector), it could remain a bottleneck for accelerated development of the power sector," The survey emphasised that timely completion of infrastructure projects was critical to ensuring their financial viability and for reaping the economic benefits. Pointing that a third of Rs 20,01,776-crore funding required for infrastructure development during the eleventh plan period is expected to be met from the private sector, the survey identifies six constraints in the public private partnership approach. These include policy and regulatory gaps, inadequate availability of finance for 10-year plus tenure, inadequate capacity of officials to handle PPP projects, lack of manpower in the private sector, lack of enough bankable projects and lack of acceptance of PPP projects among stakeholders. The survey said availability of finance was only a necessary condition for investment. "Once a project is financially closed, it is faced with issues like disputes in land acquisition, rehabilitation, contractual issues, shortage of raw materials, capital goods and fuel, environmental disputes and inadequate availability of skilled manpower," said the survey. Another important point highlighted was the lack of generation of timely information, primarily due to multiplicity of implementing agencies.As the economy slumped in activity, consequent to the commodity price and oil price shocks and then the global economic crisis, most infrastructure sectors witnessed subdued growth during 2008-09.Ports and air cargo slowed considerably, reflecting the sluggishness in import and export growth in the second half of 2008-09.
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2008-09 A WATERSHED YEAR FOR STEEL
By ceoaisra, Section AISRA NEWS
Posted on Sat Jul 04, 2009 at 12:50:38 AM EST
"The year 2008-09 has been a watershed year for the Indian iron and steel industry," says the Economic Survey. The industry has been hit hard by the spiralling cost of imported coking coal or metallurgical coke, notes the Survey.
CONSUMPTION FLAT
According to the provisional estimates of the Survey, consumption of total finished steel was almost flat (-01 per cent) at 52.05 mt for 2008-09 compared to the previous year. The imports for 5008-09 of 5.72 mt were down by 18.7per cent compared to the previous year, and exports at 3.66 mt down by 27.9 per cent. The first half of 2008-09 had seen a rapid rise in consumption. Prices and profits of steel producers, spurred by this huge investments, were planned for capacity expansion accordingly. However, with the onset of the global economic crisis since September 2008, there had been a subsequent fall in the international steel prices. Domestic demand had also been impacted, in particular, by the sharp reduction in demand in some of the leading end-user segments of steel dependent on credit financing. On the supply side, the liquidity crunch negatively impacted steel investors' sentiments, says the Survey. On renewed demand recently, steel companies have and are considering increasing prices marginally. The Survey notes that the annual rate of 9,2 per cent growth of crude steel production 2003-04 to 2007-08 came on the back of capacity expansion, mainly in the private sector plants, and higher utilization rates. It also points out that despite having diversified product mix to include sophisticated value-added steel for the auto sector, heavy machinery and infrastructure, Indian steel suffers from the high ash content of locally available metallurgical coal. Growing dependence on imported coal and delays in getting leases for iron-ore mines, and constraints in land-acquisition and transport-infrastructure were other concerns, taken note of in the Survey.
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SAIL, MINISTRY IN PACT FOR DEFENCE PROJECTS
By ceoaisra, Section AISRA NEWS
Posted on Sat Jul 04, 2009 at 12:48:33 AM EST
Steel Authority of India Ltd has entered into an agreement with two divisions of the Military Engineering Services (MES) and the Married Accommodation Project (MAP) of the Ministry of Defence, Under the MoU, SAIl would supply superior grade construction steel on a regular basis for MES and MAP's infrastructure development.
SAIL-TMTREBARS
SAIL will supply mainly earthquake-resistant SAIL-TMT rebars which meet the stringent physical and chemical specifications of MES and MAP. MES is one of the largest Government construction agencies in India and provides works cover to the Indian Army, Navy and Air Force. It also undertakes civil works for Defence Research & Development Organisation, Coast Guard, Kendriya Vidyalaya Sangathan and other government organisations. MAP, the wing assigned to build accommodation for serving defence personnel, is to build 66,727 dwellings in phase-II of its housing project at Rs 9,500 crore.In phases III and IV, MAP plans to build 36,423 and 34,073 dwellings, respectively.
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COAL INDIA PULLS OUT ALL STOPS TO INCREASE OUTPUT
By ceoaisra, Section AISRA NEWS
Posted on Fri Jul 03, 2009 at 12:44:49 AM EST
Coal Bhawan, the imposing headquarters of Coal India Ltd (CIL) in Kolkata, is buzzing with activity these days. And the top brass at the country's largest coal producer has already shrugged off the disappointment over the ministry's decision to rule out a price increase in the near future. For, disinvestment is in the air, and CIL doesn't want to let such things distract it from its plan to ramp up coal production by 65 per cent to 660 million tonnes in another six to seven years. This is in keeping with coal minister Sriprakash Jaiswal's assertion that increasing coal production was more important than a price increase. Coal India chairman Partha S Bhattacharya said despite all odds, CIL managed to cross the 400 million tonne production mark last fiscal, recording a growth of 6.4 per cent in output as against the previous year. "The trend will continue and our aim will be to achieve 10 per cent annual growth in the near future", Bhattacharya said. The company expects a 7.1 per cent growth in coal output this fiscal with a total production of 435 million tonnes. There is hardly any way out. The new National Coal Wage Agreement VIII, which revised the salaries of close to 4,15,000 employees, heavily eroded CIL's profit margin besides turning as many as 33 projects unviable. conventional opencast mining, the company has recently shortlisted 10 private parties for developing 18 abandoned mines estimated to have a coal capacity of around 1,600 million tonnes. This apart, CIL also plans to develop seven underground CIL's director (Technical) N C Jha pointed out that of the 134 projects planned for the 11th plan period, estimated to produce 309 million tonne at an investment of Rs 26,000 crore, 33 had become unviable. "We are looking in what way we cart go forward--whether to go for cost plus system or whether to wait for a price increase," Jha said. CILs profit after tax (PAT) plummeted to Rs 96 crore in 2008-09 on account of the wage revision. The focus of the new production plan is underground and abandoned mines. Besides increasing capacity through mines on a turnkey basis. The company has received 17 offers and nine potential companies have been shortlisted, the contracts will be awarded shortly. In order to boost private investments for development of selected underground mining assets CIL has also formulated a standard draft wherein the onus will be on the selected firms for planning and operating these coal mines with state-of-the-art technology. The capital investment to be incurred by the successful bidders for developing the mines will be reimbursed against bank loans taken by CIL, which will retain some amount which will be disbursed on a case-to-case basis depending on the amount of work involved. "It's a complex model of revenue sharing. We will reimburse the capital investment of the successful bidders. Once the production starts, for every tonne of coal produced we will give them a certain amount of money in accordance with whatever is defined in the tender document of the successful bid, Jha said. The public sector coal behemoth also plans to introduce washeries to produce better quality coals. "We have plans to set up 19 washeries out of which tenders for four have been floated, two are of 10 million tonnes each and two of five million tonnes capacity. We plan to bring in more washeries in the present fiscal," Jha said. Jha said the company had fixed a quarter-wise growth plan. "We are also doing projects which have the potential to increase their production," he said. But there is a rider. To implement these projects successfully, environmental and forest clearances have to be obtained, projects have to be prepared, and constant acquisition of land has to be done in time. The ministry and with CIL were looking at ways and means to expedite the process to increase production, he added.
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COAL INDIA TO FLOAT JVS FOR BUYING FOREIGN ASSETS
By ceoaisra, Section AISRA NEWS
Posted on Fri Jul 03, 2009 at 12:43:07 AM EST
''COAL India (GIL) has decided to float four separate foreign mining JYs with local partners--one each in the US, Australia, South Africa and Indonesia. These JVs, in which CIL will be the majority stakeholder, will primarily acquire mining assets in the respective countries where they will be floated, CIL is all set to invite expressions of interest (Eols) from interested parties in these four countries in the next one month. "We will take the board's permission for setting up four foreign mining joint ventures with companies from US, Australia, South Africa and Indonesia. Following this, the Eols will be floated. The new JVs will then acquire mining assets and extract coal from mines in the respective countries. The idea is to import coal to India through these companies. We intend to be majority partners or at least hold 50% stake depending on the parties which show interest," Mr N C Jha, ClL's director (technical) The initiative will be undertaken by Coal Videsh the department floated by CIL, to acquire mining assets abroad. This is part of CIL's plans to acquire mining assets abroad to import coal from foreign countries so that energy security issues maybe addresses. Interestingly, CIL has also recently acquired a coal block in Mozambique. This block is likely to go into production over the next two-to-three years. With initial estimated reserves of 1 billion tonnes, the coal will be imported to cater to domestic demand from customers in Western India. CIL is now keen on acquiring a block in Indonesia which will cater to consumers in East India. "The allotment made to Coal India is an exploratory block with an area of about205 square km. Preliminary estimates suggest that it could have a reserves of about 1 billion tonnes. We hope to start exploration on the block in about six months where Central Mine Planning & Design Institute Ltd will be involved. Before this CIL needs to strike a JV with a company to be nominated by the authorities in Mozambique. The company will take a 15 % stake in the JV while CIL will be holding the rest 8 5 %," Mr Partha S Bhattacharyya told "We would be importing the coal from the block primarily to meet customer demand in Western India. A block in Indonesia will complete our import plans which can be used to cater to consumers in the east India completing our plans to import coal for all customers," he added. "In a recent meeting of the Indo-Mozambique working group we decided on the road-map for initiating exploration on the block. The next immediate step would be to submit a formal application for formation of the JV with a nominated company, " said Mr Bhattacharyya.
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CAN'T AFFORD ADDITIONAL POWER, SAYS PUNJAB
By ceoaisra, Section AISRA NEWS
Posted on Fri Jul 03, 2009 at 12:39:56 AM EST
HE severe power crisis in Punjab is likely to continue, as the Punjab State Electricity Board (PSEB) says it has no money to buy additional power at a high rate from private generators. "Power from private generation companies now costs Rs 11-12 per unit, which we cannot afford," PSEB member (transmission) SC Sabharwal said. "Considering the board's fiscal situation, we cannot buy power at a rate over Rs 7 per unit," he said, adding that the board was facing losses of Rs 6,600 crore. At present, the demand for power is exceeding supply by 500 lakh units per day in the state, forcing PSEB to ban ACs in government offices, imposing over 10-hour power cuts and three-day power cut on general industries, besides other measures. As per the PSEB's aggregate revenue requirement, the board has projected a cumulative revenue gap of Rs 8,546 crore for 2009-10 against the budgeted revenue gap of Rs 4,205 crore in 2008-09, on the back of annual power purchase of Rs 7,265 crore in the current fiscal. It has also projected annual revenue gap of Rs 4,341 crore compared with a gap of Rs 2,403 crore in 2008-09. Though PSEB has committed to spend Rs 1,000 crore for buying power from additional resources from June to September to ease the situation, this measure is not likely to reduce the ballooning gap between demand and supply of power. Punjab would start getting 800 mw of power from July 1 from various power companies, including Adani Power (175 mw), Lanco (200 mw), JSW (200 mw), PTC (174 mw) and Molana Power Plant (81 mw), Sabharwal said, adding, "Despite the inflow of even more power, the situation continues to be grim
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STEEL IMPORTS SURPASS LAST YEAR'S VOLUMES ONLY SINCE APRIL, SAYS RASTOGI
By ceoaisra, Section AISRA NEWS
Posted on Mon Jun 29, 2009 at 03:14:39 AM EST
While the steel industry has been demanding fiscal measures against cheaper imports, it is only since April that imports have surpassed last year's volumes. And China only accounts for 1.36 per cent of the total imports, according to the Mr P. K. Rastogi, Secretary, Ministry of Steel. Between April 1 and May 31, 9.51 lakh tonnes of steel were imported, up marginally from 9.20 lakh tonnes during April-May 2008, of this, steel from CIS countries accounted for 2.61 lakh tonnes, or about 27 per cent Steel from CIS countries was imported at an average f.o.b. (free on board) price of $365; recently it moved up to about $400. Meanwhile, steel companies, including the Steel Authority of India Ltd (SAIL) have raised prices by about Rs 500 a tonne on certain products. Mr Rastogi said the demand from the rural sector led to a six per cent increase in consumption in May. Last month, a Committee of Secretaries looking into the need for a safeguard duty for HR (hot-rolled) steel had asked that the user industries be consulted. The Steel Secretary also added that the expansion plans of RINL and SAIL were on track, despite the setback in October-December. The International Coal Venture Ltd, formed by NTPC, SAIL, CIL, RINL and NMDC, to acquire coal assets was recently incorporated and will appoint a Chief Executive. With an authorised capital of Rs 3,500 crore, the company which has had talks over assets in Australia, Mozambique and Indonesia may find better prospects now. The Ministry is hoping to expedite or take up together clearances and issues related to forestry particularly with the Ministry of Environment and Forests.
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STEEL FIRMS SEEK IMPORT DUTY, INFRA STATUS
By ceoaisra, Section AISRA NEWS
Posted on Mon Jun 29, 2009 at 03:11:29 AM EST
Indian steel firms have sought to curb import of cheap steel and impose a 15 pet-cent export tax on iron ore to ensure supplies to local companies, in budget 2009 to be presented on July 6, officials said. "First demand is stopping cheap imports to India. Iron ore exports should also be discouraged. More and more ore should be made available to Indian companies," M V S Seshagiri Rao, managing director with J SW Steel, said. Indian steel firms have been demanding a safeguard duty or anti-dumping duty on cheap steel imports to support prices and boost demand for local products. However, in May a government panel had rejected their plea for a 25 per cent duty as "unjustified" but officials said they would renew their demand for a safeguard duty. There is already a 5 percent import duty on most steel items. Mumbai-based brokerage Gupta Equities said in a report the demand for a safeguard duty for imports is unlikely to be met as steel producers have raised prices recently. Tata Steel Ltd, India's No. 2 producer, raised prices for hot rolled and cold-rolled coils by up to 2 percent in June, while Ispat Industries and JSW Steel told Reuters they may hike prices next month. Besides, officials have sought to raise ad valorem export tax on iron ore to 15 percent to ensure supplies to local firms. Currently, iron ore lumps attract a tax of 5 percent while fines are not taxed. The cost of producing one tonne of steel grew by more than half for most Indian steel 1 firms last year, with prices of key raw material -- iron ore and coking coal -- hitting record highs. For this reason, steel firms who source raw material from local or overseas miners are scouting out for mines both in India and abroad to secure their raw material supplies. The firms have also asked the ministry to grant infrastructure status to steel industry to ensure availability of long-term funds and for tax holidays, officials said."That has been a long- standing demand of steel industry," a spokesman at Ispat Industries Ltd, said. "Not only for tax holidays, but also for long-term funding and overseas funding steel industry has been asking f or this status."
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STEELMAKERS SEE ORDERS AND PRICES PICKING UP
By ceoaisra, Section AISRA NEWS
Posted on Mon Jun 29, 2009 at 03:09:40 AM EST
NOKTH American and European steelmakers, many of them operating below 50% capacity, still await a boost from economic stimulus packages even as signs emerge that orders and prices are slowly picking up. There is a global divide between the industrialized and developing economies, as overall world steel production has fallen over 20% since last September's economic downturn but is surging in China and India. The heads of major steel producers ArcelorMittal and US Steel Corp told a steel conference in New York this week that they are on the verge of restarting idled capacity as demand begins to pick up a little. But the still critical state of the industry was evident on Thursday when Europe's second largest producer Corns, part of India's Tata Steel, said it was planning to cut almost 2, 000 more jobs, six months after axing 2,500. Global steel production has fallen over the last year as growth in demand dried up following a boom period of China-fueled growth. However, worldwide production edged up slightly in May from April largely due to output from China and India, although elsewhere it was down 21 % on a yearly basis, according to the World Steel Association. Chris Plurnmer, managing director of Metal Strategies in Philadelphia, said China was on track to produce 540 million tonnes of steel this year -- way above its previous estimate of 465 million tonnes. "And it does not look like slowing down," he told a McCloskey Group coal conference on the outlook for coking coal, which is used in steel production. "India is certainly one of the stronger countries in 2009 and going forward," he added, noting Indian steel production is growing at 12 % annually. "China and India are the only bright spots for anyone wanting to sell coking coal," said Ernie Thrasher, president of Xcoal Energy and Resources, a private coal exporting company. "We expect the steel industry to have a much healthier second half," he told the coat conference. At the Steel Survival Strategies conference organized by American Metal Market, talk was about whether, and how quickly, stimulus packages can get the industry back on its feet. The Obama administration has included $200 billion worth of public works projects in its $787 billion economic recovery measure. Steel companies and smaller manufacturers lobbied for a "Buy American" measure, which requires stimulus projects to use iron, steel and other goods made in the United States. "The solution for us is to reinvest in this country, to rebuild our infrastructure, to put people to work, and yea, it will he a lot of steel," said Dan DiMicco, chief executive of steelmaker Nucor Inc. "We're realistic that it's going to be one tough son-of-a-..." he said. "Setbacks along the way will be unavoidable, but we haven't seen them yet." But DiMicco was skeptical of early signs the economy is turning. "Green shoots? -- Well, you don't know at this rime if those green shoots are poison ivy or corn." Keith Busse, president and chief executive of Steel Dynamics Inc, said for hard infrastructure die United States probably needs to spend about $2 trillion "and $500 billion would be a good start. "And all mat was allocated was about $90 billion and a lot of that went into projects that won't move the needle much."
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JSW STEEL OUTPUT UP 45% TO 14 LAKH TONNE
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PVT ENTRY INTO N-POWER, COAL MINING MOOTED
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2008-09 A WATERSHED YEAR FOR STEEL
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SAIL, MINISTRY IN PACT FOR DEFENCE PROJECTS
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COAL INDIA PULLS OUT ALL STOPS TO INCREASE OUTPUT
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Top ten things that you can do to speed up your computer right now are
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Electrotherm launches corrosion resistant steel bars
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INTERNATIONAL SEMINAR ON IRON ORE BENEFICIATION AND PELLETISATION
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Chiria mines: Panel to adjudicate on SAIL-Jharkhand dispute
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SAIL CELEBRATES GOLDEN JUBILEE
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High-level panel to assess Chiria mines, SAIL needs
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Steel Authority of India Ltd (SAIL) Eyeing 60 mt Production
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SAIL to expand dealer network in South
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POWER COS READY TO PAY IMPORT PARITY PRICE TO CIL UNIT FOR
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JSW LIKELY TO DEFER BENGAL STEEL PROJECT
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TATA STEEL GETS NOD FOR ANKUA IRON ORE MINE
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JSW hopeful of commissioning Vijayanagar plant ahead of schedule
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New projects boost iron ore carrying capacity of Railways
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Soft on IT, hard on steel products
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Anti-dumping duty on import of Flat base Steel Wheels
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Amendments to the Small Industries Cluster Development Programme (SICDP).
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