Economy & Market

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

Published

3 years ago

April 27, 2022

admin

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.

Image Source

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

Up Next

ONGC commissions two Rs 6,000 cr project to boost oil output

Don't Miss

Shriram Properties to sell 90 acres of land to LOGOS in Kolkata

Concrete

15th Cement EXPO: A Step Forward in Cement Innovation

Published

2 weeks ago

January 17, 2025

admin

Mumbai

Following the immense success of the 14th Cement EXPO, held on December 14-15, 2023, at the Manekshaw Centre, New Delhi, the next edition of this premier event is set to take place in March 2025. The 15th Cement EXPO will be hosted at Yashobhoomi, Delhi, on 12th and 13th November 2025.

Meanwhile, the Cement Expo Forum 2025 is scheduled for 5th and 6th March 2025 at Taj Krishna in Hyderabad. This exciting 3-in-1 event, organised by FIRST Construction Council (FCC) and Indian Cement Review (ICR), will bring together industry leaders, innovators, and stakeholders to discuss the future of the cement sector.

Building on the Success of the 14th Cement EXPO

The 14th Cement EXPO was widely praised for its strong participation, attracting over 1,500 senior managers and decision-makers from across the cement industry. The event was inaugurated by Dr. Vibha Dhawan, Director General of TERI, and Ali Emir Adiguzel, Founder and Director of the World Cement Association, alongside Pratap Padode, Founder of FIRST Construction Council (FCC). The two-tiered exhibition space featured cutting-edge products and innovations from top companies within the cement industry’s supply chain.

The event also garnered significant support from key government bodies, including the Ministry of Road Transport and Highways, Government e-Marketplace (GeM), and the Department for Promotion of Industry and Internal Trade (DPIIT), Ministry of Commerce and Industry, Government of India (GoI).

Recognition and Excellence in the Cement Industry

The 7th Indian Cement Review Awards celebrated excellence by presenting awards to 11 companies in various categories, recognising their contributions to growth and innovation within the industry. Notably, Parth Jindal, Managing Director of JSW Cement, was honoured with the prestigious Indian Cement Review – Person of the Year Award 2023. Meanwhile, Vinita Singhania, Vice Chairman and Managing Director of JK Lakshmi Cement Ltd, received the Lifetime Achievement Award for her outstanding leadership and contributions to the sector.

A Vision for Sustainability

With the theme of “Driving Sustainability Through Technology,” the 9th Indian Cement Review Conference hosted thought-provoking discussions and presentations, highlighting the industry’s commitment to adopting innovative, sustainable practices. The conference served as a platform for dialogue on the latest technological advancements aimed at transforming the cement sector, addressing key challenges, and fostering growth.

What to Expect from Cement EXPO 2025

The 15th Cement EXPO, along with the 10th Indian Cement Review Conference and the 8th Indian Cement Review Awards, is set to be even bigger and more impactful than the 2023 edition. With an expanded exhibition space, greater participation, and more in-depth discussions, the 2025 event will continue to drive the industry forward. This 3-in-1 event promises to be a pivotal moment in the ongoing transformation of the cement sector.

As the industry evolves, the 15th Cement EXPO 2025 will serve as a crucial platform for showcasing innovations, discussing emerging trends, and forging new partnerships to shape the future of cement and construction.

For more details:

Cement Expo Forum 2025: https://cementexpo.in/forum

15^th Cement Expo 2025: https://cementexpo.in/

FOR CONFERENCE SPONSORSHIPS

Sheetal Talreja

Mob: +91 842 2874 030

Email: sheetal@IndianCementReview.com

FOR EXHIBITION/SPONSORSHIPS

Sujoy Gomes

Mob: +91 865 7795 881

Email: Sujoy.g@ASAPPinfoGlobal.com

FOR SPONSORSHIPS

Ratan Rajbhar

Mob: +91 842 2874 021

Email: ratan.r@ASAPPinfoGlobal.com

Concrete

Construction sector growth slows to 8-10% for FY2025: ICRA

Published

3 weeks ago

January 15, 2025

admin

The revenue growth for construction companies in FY2025 is projected at 8-10 per cent, down from the earlier estimate of 12-15 per cent, according to ICRA. This marks the slowest growth in three years, driven by factors such as the Model Code of Conduct in Q1, prolonged monsoons, and milestone-based billing in Q2, particularly affecting road-focused players.
ICRA’s analysis of 19 companies with a combined turnover of Rs.1.28 trillion in FY2024 shows modest revenue growth of 1.5 per cent YoY in H1 FY2025. While execution is expected to improve in H2, FY2025 growth remains below the historical CAGR of ~15 per cent (FY2018-FY2024).
Order inflows in urban transport, water and sewage projects are healthy, but road-focused entities face challenges due to muted inflows and high competition. Operating margins are projected to remain range-bound at 10.5-11 per cent, with debt levels rising to manage working capital needs, though debt coverage metrics remain stable.

Concrete

SANY India expands Pune factory to boost production capacity

Published

3 weeks ago

January 15, 2025

admin

SANY India inaugurated a cutting-edge factory expansion at its 90-acre Pune facility, elevating its production capacity to over 14,000 units annually, alongside a robust fabrication capacity of 100,000 metric tonnes.

The advanced facility reinforces SANY’s commitment to ‘Make in India’ by enhancing localised manufacturing and supporting global exports. Chairman Xiang Wenbo highlighted the strategic importance of India as a global hub, while Vice Chairman Deepak Garg emphasised the expansion’s role in driving innovation and infrastructure development. This investment enhances efficiency, reduces timelines, and strengthens SANY’s leadership in the construction equipment sector.