IANS cited Mr Virbhadra Singh steel minister as saying that India will speed up the process of granting iron ore mining licenses to various steel companies including South Korea's POSCO.
Mr Singh said "We are planning to almost double the production of steel and for that we have to speed up Greenfield projects."
Referring to POSCO, which has been waiting for 4 years to secure raw material for its proposed USD 12 billion plant in Orissa, he said "We are looking into the matter and will get this done as soon as possible. We are working with the state government to expedite the matter."
Mr Saroj Mahapatra POSCO India spokesman said "We are hoping something good will happen. POSCO has faced opposition in Orissa on the account of land acquisition.”
(Sourced from http://www.steelguru.com/news/index/2009/07/13/MTAxODgz/Steel_plants_to_soon_get_iron_ore_mining_licenses.html)
Mr PK Bishnoi CMD of RINL said "Expansion is going on well. We will be starting our commissioning cum stabilization next year from end March to end September. Commercial production will start from October 2010."
(Sourced from http://www.steelguru.com/news/index/2009/07/13/MTAxODg0/RINL_to_complete_expansion_ahead_of_schedule.html)
SAIL sells surplus power to West Bengal
PTI reported that Steel Authority of India Limited has sold surplus captive power generated from its Durgapur plant to West Bengal and is considering to explore similar commercial opportunities at its Bhilai Steel plant.
SAIL in a statement said "In order to tap the full potential of power generation at Durgapur Steel Plant it was decided that surplus power would be sold to other power utilities after meeting the requirement of SAIL's units. The steel major sold 5 MW of its surplus power to the West Bengal State Electricity Distribution Company on Wednesday.”
The power was sold through NTPC Vidyut Vyapar Nigam Limited.
It said “SAIL may also consider selling excess power by the end of this month from another unit of DSP which is shut at present. The country’s largest steel producer is also mulling selling surplus power from its Bhilai Steel Plant in Chhattisgarh.”
(Sourced from http://www.steelguru.com/news/index/2009/07/13/MTAxODg1/SAIL_sells_surplus_power_to_West_Bengal.html)
Get SMS alert for Indian steel price indices
You can now get ILPPI, IFPPI and INDSPI as SMS alert on mobile by submitting your details at http://steelprices-india.com/smsalert
In order to provide an index for steel prices, we call it SENSEX for steel, SteelGuru.com decided to work on both long products and flat products for respective category indices as also a composite one for steel. We call them ILPPI, IFPPI and INDSPI and have started releasing these indices with effect from July 1st 2008, after taking June 30th 2008 as base.
ILPPI is based on daily market prices of three benchmark products rebars, wire rod and sections whereas IFPPI is based on HRC, plates, CR and HDG. These indices have been built considering their respective weights in the composite categories as also in the shares of sales in the important markets.
The pricing input is from www.steelprices-india.com, which publishes market transaction prices of benchmark products among select locations 5 days a week.
These price indices outline the way domestic steel market is moving day by day and will help producers, agents in the supply chain, steel buyers, bankers and analysts in their respective businesses.
To know more, please visit
http://steelprices-india.com/spi_services/spi.html
To know more details on steel prices subscribe to services of www.steelprices-india.com by registering or send a mail to admin@steelprices- india.com with contact details. Kindly note that this is a paid service
(Sourced from http://www.steelguru.com/news/index/2009/07/13/MTAxODg2/Get_SMS_alert_for_Indian_steel_price_indices.html)
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