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Tata Steel, ArcelorMittal-Nippon Steel may not bid for NMDC facility

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Govt approves demerger of the unit from parent NMDC in Oct 2020

Tata Steel and ArcelorMittal-Nippon Steel India (AM/NS India) may not bid for National Mineral Development Corporation’s (NMDC) privatisation-bound, under-construction 3 million tonnes per annum (mtpa) steel unit at Chhattisgarh’s Nagarnar.This leaves JSW Steel, Jindal Steel and Power, and new entrants into the steel sector like Adani Group and Vedanta in the fray.In October 2020, the Centre had approved the demerger of the unit from the parent NMDC and strategic disinvestment of the demerged entity by selling its entire stake in it to a strategic player. NMDC is likely to finish the demerger process by August-September, coinciding with the commissioning of the facility. Bids for the demerged entity would be called for following this.NMDC may spend around Rs 22,000 crore, higher by Rs 6,500 crore than the original estimate, for the plant mainly due to seven years of overrun.Sr VP & group head, corporate sector ratings, ICRA, Jayanta Roy, told the media that the long-term outlook for the steel industry in India is positive, given the huge investment expected in infrastructure. Therefore, a sizable plant that is at a very advanced stage of commissioning should be appealing to steel players, since a greenfield steel project, otherwise, has a long gestation period.A Greenfield steel facility the size of Nagarnar is rare. Barring a greenfield unit of JSPL of the 6 mtpa size at Odisha’s Angul, commissioned in 2017, no key greenfield steel unit has come up in current times. Meanwhile, steel companies have raised their capacities, but those are via the brownfield route and debottlenecking of the existing units.The Nagarnar steel plant is located on 1,940 acres and has about 2,180 acres of land in total. In the next phase, the facility capacity can be grown by another 2 mtpa to 3 mtpa without requiring more land.The product mix of the unit is also appealing. Apart from hot-rolled coils and auto-grade steels, it will have grades for creating API pipes, employed in modern infrastructure, and products for manufacturing LPG cylinders.

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Also read:Tata Steel acquires SFML’s ferro alloy assets for Rs 155 crore

Concrete

CCU testbeds in Tamil Nadu

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Tamil Nadu is set to host one of India’s five national carbon capture and utilisation (CCU) testbeds, aimed at reducing CO2 emissions in the cement industry as part of the country’s 2070 net-zero goal, as per a news report. The facility will be based at UltraTech Cement’s Reddipalayam plant in Ariyalur, supported by IIT Madras and BITS Pilani. Backed by the Department of Science and Technology (DST), the project will pilot an oxygen-enriched kiln capable of capturing up to two tonnes of CO2 per day for conversion into concrete products. Additional testbeds are planned in Rajasthan, Odisha, and Andhra Pradesh, involving companies like JK Cement and Dalmia Cement. Union Minister Jitendra Singh confirmed that funding approvals are underway, with full implementation expected in 2025.

Image source:https://www.heavyequipmentguide.ca/

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Concrete

JSW Cement gears up for IPO

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JSW Cement has set the price range for its upcoming initial public offering(IPO) at US$1.58 to US$1.67 per share, aiming to raise approximately US$409 million. As reported in the news, around US$91 million from the proceeds will be directed towards partially financing a new integrated cement plant in Nagaur, Rajasthan. Additionally, the company plans to utilise US$59.2 million to repay or prepay existing debts. The remaining capital will be allocated for general corporate purposes.

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Concrete

Cement industry to gain from new infrastructure spending

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As per a news report, Karan Adani, ACC Chair, has said that he expects the cement industry to benefit from the an anticipated US$2.2tn in new public infrastructure spending between 2025 and 2030. In a statement he said that ACC has crossed the 100Mt/yr cement capacity milestone in April 2025, propelling the company to get closer to its ambitious 140Mt/yr target by the 2028 financial year. The company’s capacity corresponds to 15 per cent of an all-India installed capacity of 686Mt/yr.

Image source:https://cementplantsupplier.com/cement-manufacturing/emerging-trends-in-cement-manufacturing-technology/

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