Rathi Steel and Power Limited, a prominent member of the P.C. Rathi Group based in Delhi, has announced a significant milestone in its growth. In a filing pursuant to Regulation 30 of SEBI (Listing Obligations and Disclosure Requirements) Regulations, 2015, the company revealed that it has received the Bureau of Indian Standards (BIS) license for its SS 550 Reinforcement Bars.

The approval, granted by the National Standards Body of the Government of India, allows Rathi Steel and Power Ltd to use the BIS standards mark on its high-strength deformed stainless steel bars and wires for concrete reinforcement, specifically in the 32 mm diameter category. This certification is a crucial step for the company in enhancing the credibility of its products in the market.

The company further stated that it is actively working on obtaining similar approvals for other diameters and sizes of reinforcement bars to expand its product range and ensure a comprehensive product offering for the construction industry.

India’s largest iron ore miner hosted a Vendor Meet in Hyderabad to share the company’s 100 MTPA roadmap with vendors from across the country. NMDC presented its CAPEX plan of Rs 700 billion for the next five years towards augmenting production capacity, building evacuation infrastructure and transforming the digital ecosystem. The public sector company promised ease of doing business and in return solicited speed and quality of the highest order from the partners.

Top brass of NMDC – Amitava Mukherjee, CMD (Additional Charge); Shri V Suresh, Director (Commercial); Shri Vinay Kumar, Director (Technical) and senior officers interacted with the network of contractors, consultants and vendors.

Setting the context for the meet, Amitava Mukherjee said, “This is not business as usual, 100 million tonnes by 2030 is a priority effort for NMDC and a once in a lifetime opportunity towards building a global mining powerhouse. We are looking at a capital expenditure of approximately Rs 700 billion.” He insisted that “our partners in progress should take this early head start, make financial arrangements, build up their resource base, deliver on timelines, and bring nothing
but the best to NMDC.”

The NMDC team laid out in great detail the upcoming infrastructure and innovation projects of the company in three sessions focused on expansion, evacuation, digital intervention and implementation strategies during the meet, followed by interactions with the vendors.

Delivering the closing remarks, the Director (Technical) of NMDC, Shri Vinay Kumar said, “Our vendors have ensured consistent growth, making NMDC a formidable team! However, it must be told that the aspiration now is to achieve more in the next five years than what we have done in six decades. Collective effort for seamless execution is the only way to realise the goal of 100 million tonnes by 2030.”

NMDC’s target of 100 million tonnes by 2030 is inspired by the vision of the National Steel Policy to build raw material security and self-reliance in the iron and steel sector of India.

Steel Minister HD Kumaraswamy announced a Rs 200 billion expansion plan for the Bokaro Steel Plant in Jharkhand on Tuesday, aimed at increasing its production capacity from 5.25 million tonnes per annum (MTPA) to 7.55 MTPA. The move is a step toward fulfilling India’s goal of self-sufficiency in steel production as part of the Atmanirbhar Bharat initiative.

The ambitious plan will include the construction of a new 4,500 cubic meter blast furnace, along with facilities such as thin slab casting, direct rolling, a calcining plant, a stamp-charged coke oven battery, and an expanded sinter plant. This overhaul is expected to strengthen India’s steel industry, contributing significantly to the nation’s economic growth and aligning with Prime Minister Narendra Modi’s vision of a 300 MTPA steel industry by 2030.

The expansion is also set to generate significant employment opportunities, including 10,000 indirect jobs and 2,500 permanent positions in the region. Additionally, the plant is making strides in sustainability with the installation of 30 MW of floating solar power and 20 MW of land-based solar power generation.

This expansion reaffirms India’s commitment to technological advancement and self-reliance in steel production, further enhancing the sector’s capacity to meet future demands.