Page 2 - Steel Ministry

About 8,000 stakeholders to participate in 1st stainless-steel expo: ISSDA

Around 8,000 stakeholders are likely to participate in the first India Stainless-Steel Expo (ISSE) 2023, being organised under the steel ministry. The three-day event will begin on Thursday in Noida, Indian Stainless Steel Development Association (ISSDA) said in a statement on Tuesday. Issues related to input materials, processing machinery, finished products and essential secondary processing techniques crucial to the stainless steel sector will be taken up at the event, which will be attended by around 8,000 industry professionals directly affiliated with the stainless steel industry, ISSDA said. "The first edition of ISSE 2023 is being organised under the aegis of the Ministry of Steel at the India Expo Mart, Greater Noida from August 3. Union Minister of Steel and Civil Aviation Jyotiraditya M Scindia will be the chief guest," the body said. The mega event, being held for the first time, will provide the stainless steel industry opportunity to connect, collaborate and conduct .

Steel Ministry directs stakeholders to develop R&D roadmap for steel sector

Steel Ministry on Thursday directed the stakeholders of the steel sector to develop a comprehensive medium-term research and development (R&D) roadmap for the domestic industry. A meeting in this regard was chaired by Steel Secretary Nagendra Nath Sinha, the Ministry of Steel said in a statement. "A brainstorming meeting was held...to evolve a comprehensive medium-term R&D roadmap and action plan for the Iron & steel sector for the next ten years," it said. Stakeholders from the steel industry, academia, research laboratories, design & engineering companies participated in the meeting. The areas identified for carrying out research were beneficiation of iron ore, beneficiation of coal, carbon capture, utilisation of steel industry wastes such as steel slag, decarbonisation technologies, use of bio-char to substitute coke/ coal in some areas of iron & steel making, it said.

No freeze on disinvestment process of state-owned RINL: Steel Ministry

There is no freeze on the disinvestment process of RINL, the Steel Ministry clarified on Friday. Clarifying some media reports regarding the hold on the disinvestment process of the state-owned steel maker, the ministry, in a statement, said that the disinvestment process of RINL is in progress. "There is no freeze on the disinvestment process of RINL," the statement said. However, efforts are being made by the company to improve the performance of RINL, it added. Under the Ministry of Steel, Rashtriya Ispat Nigam owns and operates a steel plant with an annual capacity of about 7 million tonnes (MT) located at Visakhapatnam in Andhra Pradesh. RINL's Vizag steel plant is the country's first shore-based plant where the company manufactures various special products. The Cabinet Committee on Economic Affairs (CCEA) on January 27, 2021, gave its 'in-principle' approval for 100 per cent disinvestment of the government stake in RINL, also called Visakhapatnam Steel Plant or Vizag Steel

Govt nods forming task forces to identify aspects of green steel production

Steel Minister Jyotiraditya Scindia has approved the formation of 13 task forces to identify action points for each aspect of green steel production and adoption of sustainable manufacturing processes. The task forces will focus on various aspects of green steel production, including raw materials, technology, and policy frameworks. the minister said. "We are committed to promoting sustainable steel-making practices in India. Setting up task forces is a significant step towards achieving this goal. We believe that the adoption of green steel production will not only benefit the environment but also lead to the creation of new jobs and economic growth" a steel ministry statement quoted Scindia as saying. Various stakeholders of the steel industry, academia and government officials will be part of the task forces. The minister further said that steel producers need to increase the capacity of their washeries so dependence on imports for coal can be reduced. He also suggested the play

Steel maker Kamdhenu's Q3 net profit grows 82% to over Rs 12 crore

Steel maker Kamdhenu Ltd has posted an 82 per cent growth in its net profit during the December quarter at Rs 12.02 crore, on the back of increased revenues. The company had recorded Rs 6.6 crore net profit during October-December period of 2021-22 fiscal, Kamdhenu Ltd said in a statement on Friday. Its revenue from operations also rose 23 per cent to Rs 182.7 crore from Rs 149 crore in the year-ago period. At Rs 17.1 crore, the earnings before interest, taxes, depreciation and amortization (EBITDA) was 60 per cent higher from Rs 10.7 crore a year ago. "We have delivered strong performance in Q3 & 9M of FY23. For 9M FY23, our company reported revenue growth of 36 per cent y-o-y to Rs 565.2 crore, EBITDA growth of 26 per cent y-o-y to Rs 44.8 crore and PAT growth of 19 per cent y-o-y to Rs 30.3 crore," Kamdhenu CMD Satish Kumar Agarwal said. Kamdhenu Group recently listed its paints business Kamdhenu Ventures Ltd on the stock exchanges on January 24, post completion of the demerger

PLI scheme qualifiers, steel ministry to ink pacts for investment proposals

Qualifiers of PLI scheme for specialty steel will soon sign agreements with the steel ministry to take their investment proposals forward. The selected players have already been sent letter of approvals post selection in the scheme, a senior steel ministry official said. On Friday, the government announced selection of 67 entries with an investment potential of Rs 42,500 crore under the scheme. The proposed investments are expected to generate 70,000 job opportunities and add 26 million tonnes of speciality steel capacity in the country. When asked about the next course of action, the official replied, "Now the selected companies will sign a memorandum of understanding (MoU) soon with the ministry of steel to take their commitments forward." Except for the divestment-bound RINL, all major steel players along with a few others participated in the scheme, the official said, adding there was no application received from any international player. As many as 35 companies had submitted

MOIL registers growth of 60% during month over Oct: Steel ministry

State-owned miner MOIL produced 1.2 lakh tonne of manganese ore last month, registering a growth of 60 per cent over October. The state-owned firm is braced for much better performance in the remaining period of the ongoing fiscal year, the steel ministry said in a statement. "On the sales front, MOIL has recorded a growth of 82 per cent during the period over the previous month, in spite of challenging market conditions," it said. MOIL, under the steel ministry, is the largest producer of manganese ore in the country and operates 11 mines in Maharashtra and Madhya Pradesh. The PSU holds about 34 per cent of the manganese ore reserves of the country. The company has an ambitious vision of almost doubling its production to 3 million tonne by 2030. MOIL is also exploring business opportunities in Gujarat, Rajasthan and Odisha besides other areas in Madhya Pradesh.

Union Minister Scindia assumes additional charge of Steel Ministry

He succeeds Ram Chandra Prasad Singh who resigned from the post on Wednesday, a day before the completion of his Rajya Sabha term

NMDC shareholders, creditors approve Nagarnar Steel Plant demerger: CMD

The demerger of NSP from NMDC is progressing, Mr Deb who was in the national capital, said

NMDC shareholders to discuss Nagarnar Steel Plant demerger on Tuesday

The Centre is aiming to complete the demerger of NSP from MMDC within the next four to five months, according to an official document.

NMDC Q4 consolidated net profit falls 36% to Rs 1,813 cr on higher expenses

During the quarter under review, the company's total income rose marginally to Rs 7,034.83 crore, from Rs 6,932.75 crore in the year-ago period

Steel, railways and coal ministries in talks for fuel supply: Minister

Speaking to reporters at Assocham's Indian Metals Industry conference, minister of state for steel Kulaste said his ministry is taking all measures to maintain supply of coal for steel makers

Strategy needed for 300 mt steel output target by 2030: Minister

The production was 120 mt in 2021-22. There is also a need for suitable policy support to increase the production of iron ore production and other raw materials.

India will ensure steady coking coal cargoes to allay supply concerns

India will take steps to ensure a steady supply of coking coal for domestic steel companies, which are struggling with cargo disruptions and rocketing prices in wake of Russia's invasion of Ukraine

Steel Minister to meet investors in Dubai to attract investment

The weeklong event will highlight the expertise of the domestic steel sector and showcase an array of opportunities available in the sector, the Ministry of Steel said on Wednesday

NMDC Apr-Feb output jumps 26% to 37.18 MT; sales up 25.5%

In February 2022, the company saw its production growing 11.7 per cent to 4.31 MT from 3.86 MT in the same month last year

SteelMin to host conference in Odisha to improve Centre-state coordinations

Union Steel Minister Ram Chandra Prasad Singh will chair the 'Conference with Mines and Industry Ministers' of the country's mineral-rich states at Konark, Odisha

Steel Minister directs PSUs to make non-operational mines functional

The minister made the remarks at a meeting with CMDs of Steel Authority of India Limited (SAIL), NMDC and Manganese Ore India Limited (MOIL)

Dependence on imports in the steel sector is worrisome: R C P Singh

Newly appointed Steel Minister says the announcement of the Rs 6,322-cr PLI scheme for specialty steel is another step towards 'Atmanirbhar Bharat'

Pradhan holds meeting to augment supply of medical oxygen from steel plants

Union Steel Minister Dharmendra Pradhan on Friday held a meeting with senior officials of the ministry to augment availability of medical oxygen in the country.