Monday, 07 Feb 2011
Rashtriya Ispat Nigam Limited on Sunday unveiled investment plans to expand its capacity to 8.4 million tonnes per annumof steel in the next five years.
Mr PK Bishnoi CMD of RINL told media persons in Bhubaneswar that RINL would add an additional production of 3 million tonnrs steel with an investment of INR 12,500 crore from the next fiscal.
He said “We will add another 1 million tonne of steel with an investment of INR 7,000 crore from the year 2013-14. We will appoint a consultant in next ten days for this purpose. It will increase the company’s capacity to 7.3 million tonnes.”
Mr Bishnoi said that the company plans to produce4.4 million tonnes of high quality steel of with an investment of INR 25,000 crore from the financial year 2014-15 because the consumption of steel will go up with the urbanization of India.
He added that “After expansion plan of RINL, we want to set up new steel plants in Orissa, Jharkhand and Rajasthan. We have signed a MoU with the Karnataka based Kudurnor Iron Company Ltd for setting up a steel plant.”
Showing posts with label Bhubaneswar. Show all posts
Showing posts with label Bhubaneswar. Show all posts
Monday, February 7, 2011
Sunday, January 23, 2011
Indian state halts output at 23 iron ore mines
Sourced:AFP – 16 hours ago
BHUBANESWAR, India — India's biggest iron ore-producing state said Saturday it has withheld permission from 23 mines to operate because they have not supplied proof of environmental and other clearances.
The mines affected by the move by the Orissa government in eastern India are in Keonjhar district, state mining deputy head Umesh Jena said.
Orissa produces some 75 million tonnes annually of iron ore, the key raw material for steel.
"We have asked operators to supply documents like forest clearances, mining leases and surface rights within a week," Jena told AFP.
"Till then, they can't carry on mining", he said, adding further action would "be initiated" against them if they did not submit the papers.
India is the world's third biggest iron ore supplier with nearly half of its output of over 200 million tonnes exported to China, which has the world's biggest steel industry.
Orissa's move comes as part of a drive to more enforce regulations introduced in 2009 amid charges many mines were functioning without licences.
Orissa has some 600 mines but over 50 percent have been closed for more than a year since the crackdown began.
The government also said earlier this month said it was considering seeking a ban on exports of iron ore to stop illegal mining and boost local supplies.
Orissa?s government found at least 2,823 cases of illegal mining in the five years to June 2009, according to the Press Trust of India.
India's steel industry has been pushing for a ban on iron ore exports to make more of the raw material available locally at cheaper prices.
The country's booming economy faces increasing demand for steel to build badly needed infrastructure and to meet burgeoning demand from the consumer durable goods sectors.
If the Orissa state government's export ban wins acceptance from the federal government it could sharply reduce India's iron ore exports, which have already slumped due to a halt in overseas sales by southern Karnataka state in July.
BHUBANESWAR, India — India's biggest iron ore-producing state said Saturday it has withheld permission from 23 mines to operate because they have not supplied proof of environmental and other clearances.
The mines affected by the move by the Orissa government in eastern India are in Keonjhar district, state mining deputy head Umesh Jena said.
Orissa produces some 75 million tonnes annually of iron ore, the key raw material for steel.
"We have asked operators to supply documents like forest clearances, mining leases and surface rights within a week," Jena told AFP.
"Till then, they can't carry on mining", he said, adding further action would "be initiated" against them if they did not submit the papers.
India is the world's third biggest iron ore supplier with nearly half of its output of over 200 million tonnes exported to China, which has the world's biggest steel industry.
Orissa's move comes as part of a drive to more enforce regulations introduced in 2009 amid charges many mines were functioning without licences.
Orissa has some 600 mines but over 50 percent have been closed for more than a year since the crackdown began.
The government also said earlier this month said it was considering seeking a ban on exports of iron ore to stop illegal mining and boost local supplies.
Orissa?s government found at least 2,823 cases of illegal mining in the five years to June 2009, according to the Press Trust of India.
India's steel industry has been pushing for a ban on iron ore exports to make more of the raw material available locally at cheaper prices.
The country's booming economy faces increasing demand for steel to build badly needed infrastructure and to meet burgeoning demand from the consumer durable goods sectors.
If the Orissa state government's export ban wins acceptance from the federal government it could sharply reduce India's iron ore exports, which have already slumped due to a halt in overseas sales by southern Karnataka state in July.
Thursday, January 20, 2011
All Odisha Steel Foundation criticizes Orissa Mining Corporation over irrational pricing
Thursday, January 20, 2011
Bhubaneswar: Convener of All Odisha Steel Foundation (AOSF), PL Kandoi has identified “irrational pricing” of iron ore by the Odisha Mining Corporation, extortionist pricing by transport cartels, non-allocation of mines to the steel units as promised in the MoUs signed by the State Government in spite of most units meeting all the criteria, 50 times hike in water tax and the move of Gridco to raise the price of power as the factors that are pushing over 350 units to closure.
These units need urgent attention by the Government so that they are saved from shutdown, he said at a Press conference here on Tuesday. Kandoi said the commitment made by the Government in December last to sort out their ore sourcing problem within 30 days has not been met.
He rued the inaction of the Government and the indifference of the Chief Minister as exemplified by his reluctance to even meet an AOSF delegation to present their problems, while lakhs of employees of the units and their family members are faced with a bleak future because the units are not going remain operational much longer.
Kandoi brushed aside the declaration made recently by the State Government to reserve 60 per cent of the ore produced in the State for small and medium units as inconsequential because its effectiveness would be felt after a few years while the units are not likely to survive beyond a few months. He demanded that the units be given their own mines as promised by the Government in the MoUs.
sourced:OrissaDiary
Bhubaneswar: Convener of All Odisha Steel Foundation (AOSF), PL Kandoi has identified “irrational pricing” of iron ore by the Odisha Mining Corporation, extortionist pricing by transport cartels, non-allocation of mines to the steel units as promised in the MoUs signed by the State Government in spite of most units meeting all the criteria, 50 times hike in water tax and the move of Gridco to raise the price of power as the factors that are pushing over 350 units to closure.
These units need urgent attention by the Government so that they are saved from shutdown, he said at a Press conference here on Tuesday. Kandoi said the commitment made by the Government in December last to sort out their ore sourcing problem within 30 days has not been met.
He rued the inaction of the Government and the indifference of the Chief Minister as exemplified by his reluctance to even meet an AOSF delegation to present their problems, while lakhs of employees of the units and their family members are faced with a bleak future because the units are not going remain operational much longer.
Kandoi brushed aside the declaration made recently by the State Government to reserve 60 per cent of the ore produced in the State for small and medium units as inconsequential because its effectiveness would be felt after a few years while the units are not likely to survive beyond a few months. He demanded that the units be given their own mines as promised by the Government in the MoUs.
sourced:OrissaDiary
Subscribe to:
Posts (Atom)
Posts
