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Nuvoco Vistas Wins Bid to Buy Vadraj Cement in Insolvency Resolution

The deal should create synergies with Nuvoco’s existing facilities.

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Nuvoco Vistas Corporation Ltd, the building materials arm of the Nirma Group, has been declared the successful resolution applicant (SRA) for Vadraj Cement Ltd (VCL) under the corporate insolvency resolution process (CIRP). The Committee of Creditors (CoC) approved Nuvoco’s resolution plan, issuing a letter of intent (LOI) to confirm the selection.
The acquisition will be executed through Vanya Corporation Private Ltd, a wholly-owned subsidiary of Nuvoco Vistas. The company plans to fund the transaction without significantly increasing its consolidated debt. A phased investment is planned over 15 months to refurbish assets and improve operations, with production expected to commence by Q3 FY27, subject to National Company Law Tribunal (NCLT) approval.
The acquisition includes VCL’s key assets: a 3.5 million tonnes per annum (MTPA) clinker unit in Kutch, Gujarat, and a 6 MTPA grinding unit in Surat, Gujarat. Additionally, VCL’s high-quality limestone reserves ensure a sustainable supply of raw materials, while its captive jetty in Kutch enhances logistical efficiency. Post-acquisition, Nuvoco’s total cement production capacity will rise to 31 MTPA, solidifying its position as the fifth-largest cement producer in India.
The deal is expected to create synergies with Nuvoco’s existing facilities in Nimbol and Chittorgarh, Rajasthan, optimising logistics, streamlining operations, and improving market access. This will enhance the company’s supply chain and competitiveness across key regions.
Nuvoco’s Managing Director, Jayakumar Krishnaswamy, called the acquisition a transformative step. “This deal strengthens our position as a leading player in the Indian cement industry, expands our geographic reach, and enhances operational capabilities. It aligns perfectly with our strategy to deliver superior value and service in a competitive market,” he stated.
(cnbctv18)

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SAIL Supplies 45,000 Tonne of Steel for Mahakumbh Mela 2025

SAIL had previously provided steel for the Mahakumbh Mela in 2013.

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Steel Authority of India (SAIL), a Maharatna and India’s largest steel-making public sector company, has supplied around 45,000 tonne of steel for the upcoming Mahakumbh Mela 2025, which is set to take place in Prayagraj. This total supply includes chequered plates, hot strip mill plates, mild steel plates, angles, and joists. SAIL had previously provided steel for the Mahakumbh Mela in 2013, demonstrating its on-going commitment to supporting this significant public event.

The steel supplied by SAIL will be integral to the construction of various temporary structures required for the smooth and successful execution of Mahakumbh Mela 2025. These structures include pontoon bridges, passageways, temporary steel bridges, substations, and flyovers. The key customers for this steel supply include the Public Works Department (PWD), Uttar Pradesh State Bridges Corporation, the Electricity Board, and their suppliers.

SAIL expressed its pride in contributing steel to such a large-scale event, which also stands as a symbol of the nation’s rich cultural heritage. The company reaffirmed its commitment to supporting national projects that strengthen the country’s infrastructure and promote its cultural and social welfare.

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Tata Steel Reports 8% Rise in India Sales for Q3 FY25

Sales in automotive and special products segment rose 3% to 2.3 mt.

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Tata Steel reported an 8% increase in sales in India for the December 2024 quarter, reaching 5.29 million tonnes (mt), compared to 4.88 mt in the same period last year. The growth was attributed to fresh capacity additions and higher export volumes.
Internationally, sales in the Netherlands grew to 1.53 mt from 1.30 mt, while sales in the UK declined to 0.56 mt from 0.64 mt due to operational changes. In Thailand, sales rose to 0.28 mt from 0.25 mt.
Production in India increased by 6% to 5.68 mt, supported by new capacity at the Kalinganagar facility, which added 5 million tonnes per annum (MTPA) in September. The new blast furnace is currently producing 8,000 tonnes daily and is being ramped up to full capacity. In the Netherlands, production rose to 1.76 mt from 1.19 mt, while UK production ceased as the company transitions to an electric arc furnace for cleaner steelmaking. The UK Government has approved duty-free slab imports for Tata Steel from various countries, including India. Production in Thailand was marginally lower at 0.26 mt compared to 0.27 mt.
Tata Steel also commissioned a Continuous Annealing Line in December, part of the 2.2 MTPA Cold Rolling Mill (CRM) complex at Kalinganagar, with approvals from major original equipment manufacturers (OEMs).
Sales in the automotive and special products segment rose 3% to 2.3 mt. The Tata Tiscon brand, focused on the real estate sector, saw a 20% year-on-year increase in sales, while Tata Steelium, catering to small and medium enterprises (SMEs), reported a 7% rise.
The company’s e-commerce platform for individual home builders, Tata Steel Aashiyana, posted a 37% growth in revenues, reaching Rs 21.54 billion.
Additionally, Tata Steel Netherlands’ liquid steel production included 0.12 mt from the UK operations, according to the company.
(Business Line)

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Brijendra Pratap Singh Takes Charge as NALCO CMD

Previously, Singh was director-in-charge of Burnpur and Durgapur Steel Plant.

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Brijendra Pratap Singh took charge as the chairman-cum-managing director (CMD) of National Aluminium Company Limited (NALCO) at its corporate office here. Prior to joining NALCO, Singh was director-in-charge of Burnpur and Durgapur Steel Plant and a member on the board of SAIL, a statement by NALCO said.

With over 35 years of experience in the mines and steel sectors, Singh’s strategic vision and deep industry expertise have been instrumental in advancing SAIL’s modernisation goals, driving the growth and sustainability of India’s steel sector in alignment with the National Steel Policy, the statement added.

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