Economy & Market

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

Published

4 years ago

April 27, 2022

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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

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Concrete

WCA Welcomes SiloConnect as associate corporate member

Published

3 days ago

April 13, 2026

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The World Cement Association (WCA) has announced SiloConnect as its newest associate corporate member, expanding its network of technology providers supporting digitalisation in the cement industry. SiloConnect offers smart sensor technology that provides real-time visibility of cement inventory levels at customer silos, enabling producers to monitor stock remotely and plan deliveries more efficiently. The solution helps companies move from reactive to proactive logistics, improving delivery planning, operational efficiency and safety by reducing manual inspections. The technology is already used by major cement producers such as Holcim, Cemex and Heidelberg Materials and is deployed across more than 30 countries worldwide.

Concrete

TotalEnergies and Holcim Launch Floating Solar Plant in Belgium

Published

3 days ago

April 13, 2026

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TotalEnergies and Holcim have commissioned a floating solar power plant in Obourg, Belgium, built on a rehabilitated former chalk quarry that has been converted into a lake. The project has a generation capacity of 31 MW and produces around 30 GWh of renewable electricity annually, which will be used to power Holcim’s nearby industrial operations. The project is currently the largest floating solar installation in Europe dedicated entirely to industrial self-consumption. To ensure minimal impact on the surrounding landscape, more than 700 metres of horizontal directional drilling were used to connect the solar installation to the electrical substation. The project reflects ongoing collaboration between the two companies to support industrial decarbonisation through renewable energy solutions and innovative infrastructure development.

Concrete

Cortec® Corporation applauded for its strong safety performance

Published

3 days ago

April 13, 2026

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Cortec® Corporation has been recognised for its strong safety performance, receiving its sixth Governor’s Workplace Safety Award for its outstanding performance in 2025. As a Silver Achievement recipient, the company continues to maintain safety metrics well above national industry averages, an impressive accomplishment for a chemical manufacturing organisation. This achievement reflects Cortec’s proactive approach to workplace safety, focused on early hazard detection and employee involvement. The company will be formally recognised at the Minnesota Safety and Health Conference in May, highlighting how industrial companies are effectively strengthening workplace safety standards.