The Union steel ministry has vented its displeasure over the sluggish pace of execution of steel projects in Odisha, hinting that slow pace of progress of such projects in the state, which has an abundance of raw materials, can derail growth of the
A blanket ban on mining in Odisha as proposed by the M B Shah Commission may result in a decline of 11 million tonne of captive iron ore output at India’s two leading steel producers – Steel Authority of India Ltd (SAIL) and Tata Steel.
After MSTC Ltd, Mjunction Services, a 50:50 joint venture between Steel Authority of India Ltd and Tata Steel, has evinced interest in offering e-auction services for sale of key bulk minerals in Odisha, such as iron ore, chrome ore and manganese.
Tata Steel on Monday announced it would write down assets and goodwill worth $1.6 billion in FY13. Effectively, the company is saying some of its assets, primarily European, are not worth as much as they were.
A day after Tata Steel announced an impairment or non-cash write down of $1.6 billion, the company's stock was down 0.8 per cent in early trades to Rs 303. The write-off was largely due to the company's struggling European operations, where demand has
In an indication of sluggish demand abroad, Tata Steel on Monday said it was making a non-cash impairment of $1.6 billion for 2012-13. In a statement, Tata Steel said this was undertaken after considering the external economic environment and
Steel giant Tata Steel has reportedly warned the British government that it plans to shut down two research and development facilities in the country and shift them overseas including to India, resulting in 300-400 job cuts in the UK.
The company is building a six-million tonne unit at a cost of about $7 billion (Rs 38,500 crore), to primarily cater to increasing demand for its flat products from the automobile industry and tap new customers from other sectors.