0.63
Location Change
Mumbai 0
Chennai 0
Kolkata 0
Delhi 0
Pune 0
Kanpur 0
Rudrapur 0
Ahmedabad 0
Bangalore 0
Change is on September 30th as compared to September 29th 2009
Change is in INR per tonne
To know exact prevailing steel prices in India in 29 locations on daily basis, subscribe to services of www.steelprices-india.com by registering or sending a mail to admin@steelprices-india.com Please note that this is a paid service.
(Sourced from www.steelprices-india.com)
Wednesday, September 30, 2009
Change is on September 30th as compared to September 29th 2009 Change is in INR per tonne
Patra
Location Change
Delhi 0
Mandi 0
Ludhiana 0
Change is on September 30th as compared to September 29th 2009
Change is in INR per tonne
To know exact prevailing steel prices in India in 29 locations on daily basis, subscribe to services of www.steelprices-india.com by registering or sending a mail to admin@steelprices-india.com Please note that this is a paid service.
(Sourced from www.steelprices-india.com)
Location Change
Delhi 0
Mandi 0
Ludhiana 0
Change is on September 30th as compared to September 29th 2009
Change is in INR per tonne
To know exact prevailing steel prices in India in 29 locations on daily basis, subscribe to services of www.steelprices-india.com by registering or sending a mail to admin@steelprices-india.com Please note that this is a paid service.
(Sourced from www.steelprices-india.com)
It is reported that India is all set to get its third liquefied natural gas import terminal commissioned in November 2009 at Dabhol in Maharashtra.
The INR 3,000 crore terminal, accounting for around 25% of the overall cost of the Dabhol project was initially meant to feed the adjoining power plant.
A senior official from Ratnagiri Gas and Power Pvt Ltd however added that gas from the terminal would not be used to run the Dabhol power plant and would be supplied entirely to other domestic companies.
RGPPL had initially planned to commission the terminal in March this year. The official said that “The LNG terminal will now be commissioned by November-end. There has been some delay due to bad weather conditions leading to excessive silt at the port which requires dredging.”
Like the first two LNG terminals that are located at Dahej and Hazira in Gujarat the Dabhol LNG terminal will also be on the west coast.
The gas starved power plant has been allocated 2.7 million standard cubic metres per day of gas supply from the Reliance Industries’ block in the Krishna-Godavari basin. This supply an agreement for which was inked by the company in June this year is likely to begin from October 1.
An earlier proposal of hiving off the Dabhol LNG terminal was turned down by the government last year as the proposal faced opposition from NTPC Ltd and GAIL, which hold 28% equity share each in the Dabhol power project.
The terminal with an LNG regasification capacity of 5 million tonne per annum forms a part of the integrated Dabhol power project owned by RGPPL. The terminal will however become fully operational only after completion of the breakwater facilities in 2011.
(Sourced from www.steelgruu.com)
A senior official from Ratnagiri Gas and Power Pvt Ltd however added that gas from the terminal would not be used to run the Dabhol power plant and would be supplied entirely to other domestic companies.
RGPPL had initially planned to commission the terminal in March this year. The official said that “The LNG terminal will now be commissioned by November-end. There has been some delay due to bad weather conditions leading to excessive silt at the port which requires dredging.”
Like the first two LNG terminals that are located at Dahej and Hazira in Gujarat the Dabhol LNG terminal will also be on the west coast.
The gas starved power plant has been allocated 2.7 million standard cubic metres per day of gas supply from the Reliance Industries’ block in the Krishna-Godavari basin. This supply an agreement for which was inked by the company in June this year is likely to begin from October 1.
An earlier proposal of hiving off the Dabhol LNG terminal was turned down by the government last year as the proposal faced opposition from NTPC Ltd and GAIL, which hold 28% equity share each in the Dabhol power project.
The terminal with an LNG regasification capacity of 5 million tonne per annum forms a part of the integrated Dabhol power project owned by RGPPL. The terminal will however become fully operational only after completion of the breakwater facilities in 2011.
(Sourced from www.steelgruu.com)
In a boost to the flagging domestic uranium mining effort, ONGC has zeroed in on a location in Assam and has submitted a proposal to Uranium Corporation of India Ltd for jointly exploring the resource.
In a boost to the flagging domestic uranium mining effort, ONGC has zeroed in on a location in Assam and has submitted a proposal to Uranium Corporation of India Ltd for jointly exploring the resource.
The public sector oil major has an agreement in place with UCIL to pursue exploration and exploitation of uranium resources.
Mr RS Sharma CMD of ONGC told Business Line that “We have held several discussions with the scientists of UCIL and Atomic Mineral Division, a unit of the DAE. Based on the available data, literature and the discussions, we have decided to go for a field test. We have identified a prospective location at upper Assam. A proposal of field test has been submitted to UCIL.”
Mr Sharma said that once UCIL has examined the data, the two will work out the next course of action. ONGC has created a team under the aegis of its Energy Centre which is looking into the venture.
A DAE official said that the two ONGC and UCIL have already set up a steering committee for evolving a time-bound program for joint prospecting and mining.
(Sourced from www.steelguru.com)
The public sector oil major has an agreement in place with UCIL to pursue exploration and exploitation of uranium resources.
Mr RS Sharma CMD of ONGC told Business Line that “We have held several discussions with the scientists of UCIL and Atomic Mineral Division, a unit of the DAE. Based on the available data, literature and the discussions, we have decided to go for a field test. We have identified a prospective location at upper Assam. A proposal of field test has been submitted to UCIL.”
Mr Sharma said that once UCIL has examined the data, the two will work out the next course of action. ONGC has created a team under the aegis of its Energy Centre which is looking into the venture.
A DAE official said that the two ONGC and UCIL have already set up a steering committee for evolving a time-bound program for joint prospecting and mining.
(Sourced from www.steelguru.com)
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 www.steelprices-india.com)
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 www.steelprices-india.com)
Karnataka Power Corporation Ltd proposes to invest about INR 38,000 crore to augment power generation capacity by some 6,000 MW over the next five years.
Karnataka Power Corporation Ltd proposes to invest about INR 38,000 crore to augment power generation capacity by some 6,000 MW over the next five years.
Mr SM Jaamdar MD of KPCL said that the land acquisition process for the 1,600 MW thermal power project at Godhna in Chhattisgarh was at an advanced stage.
The super critical thermal power plants at Edlapur and Yeramarus were poised to take off through the KPCL-BHEL joint venture company called Raichur Power Corporation Ltd.
KPCL is awaiting the clearance from the Ministry of Environment and Forest for the Gundia Hydro Electric Project and is expected to commence work shortly on Unit 2 of the Bellary Thermal Power Station for which the financial closure has been achieved. The State Government recently approved KPCL’s proposal to go in for a 2,100 MW gas based power plant in the first phase at Tadadi along with a dedicated LNG terminal for gas supply.
KPCL also expects that the 270 MW, run-of-the river project at Shivanasamudram will take off soon.
Mr Jaamdar said that reforms in coal management and redeployment of manpower while expanding capacity helped KPCL to save costs to the tune of INR 1,020 crore.
KPCL achieved a profit after tax of INR 277 crore for 2008-09 on a turnover of INR 4,148 crore.
(Sourced from Karnataka Power Corporation Ltd proposes to invest about INR 38,000 crore to augment power generation capacity by some 6,000 MW over the next five years.
Mr SM Jaamdar MD of KPCL said that the land acquisition process for the 1,600 MW thermal power project at Godhna in Chhattisgarh was at an advanced stage.
The super critical thermal power plants at Edlapur and Yeramarus were poised to take off through the KPCL-BHEL joint venture company called Raichur Power Corporation Ltd.
KPCL is awaiting the clearance from the Ministry of Environment and Forest for the Gundia Hydro Electric Project and is expected to commence work shortly on Unit 2 of the Bellary Thermal Power Station for which the financial closure has been achieved. The State Government recently approved KPCL’s proposal to go in for a 2,100 MW gas based power plant in the first phase at Tadadi along with a dedicated LNG terminal for gas supply.
KPCL also expects that the 270 MW, run-of-the river project at Shivanasamudram will take off soon.
Mr Jaamdar said that reforms in coal management and redeployment of manpower while expanding capacity helped KPCL to save costs to the tune of INR 1,020 crore.
KPCL achieved a profit after tax of INR 277 crore for 2008-09 on a turnover of INR 4,148 crore.
(Sourced from http://www.steelguru.com/news/index/2009/10/01/MTE0MTE4/KPCL_plans_to_add_6%252C000_MW_over_5_years.html))
Mr SM Jaamdar MD of KPCL said that the land acquisition process for the 1,600 MW thermal power project at Godhna in Chhattisgarh was at an advanced stage.
The super critical thermal power plants at Edlapur and Yeramarus were poised to take off through the KPCL-BHEL joint venture company called Raichur Power Corporation Ltd.
KPCL is awaiting the clearance from the Ministry of Environment and Forest for the Gundia Hydro Electric Project and is expected to commence work shortly on Unit 2 of the Bellary Thermal Power Station for which the financial closure has been achieved. The State Government recently approved KPCL’s proposal to go in for a 2,100 MW gas based power plant in the first phase at Tadadi along with a dedicated LNG terminal for gas supply.
KPCL also expects that the 270 MW, run-of-the river project at Shivanasamudram will take off soon.
Mr Jaamdar said that reforms in coal management and redeployment of manpower while expanding capacity helped KPCL to save costs to the tune of INR 1,020 crore.
KPCL achieved a profit after tax of INR 277 crore for 2008-09 on a turnover of INR 4,148 crore.
(Sourced from Karnataka Power Corporation Ltd proposes to invest about INR 38,000 crore to augment power generation capacity by some 6,000 MW over the next five years.
Mr SM Jaamdar MD of KPCL said that the land acquisition process for the 1,600 MW thermal power project at Godhna in Chhattisgarh was at an advanced stage.
The super critical thermal power plants at Edlapur and Yeramarus were poised to take off through the KPCL-BHEL joint venture company called Raichur Power Corporation Ltd.
KPCL is awaiting the clearance from the Ministry of Environment and Forest for the Gundia Hydro Electric Project and is expected to commence work shortly on Unit 2 of the Bellary Thermal Power Station for which the financial closure has been achieved. The State Government recently approved KPCL’s proposal to go in for a 2,100 MW gas based power plant in the first phase at Tadadi along with a dedicated LNG terminal for gas supply.
KPCL also expects that the 270 MW, run-of-the river project at Shivanasamudram will take off soon.
Mr Jaamdar said that reforms in coal management and redeployment of manpower while expanding capacity helped KPCL to save costs to the tune of INR 1,020 crore.
KPCL achieved a profit after tax of INR 277 crore for 2008-09 on a turnover of INR 4,148 crore.
(Sourced from http://www.steelguru.com/news/index/2009/10/01/MTE0MTE4/KPCL_plans_to_add_6%252C000_MW_over_5_years.html))
Reuters reported that Indian engineering firm Larsen & Toubro is close to launching a USD 600 million share sale to institutional investors.
Reuters reported that Indian engineering firm Larsen & Toubro is close to launching a USD 600 million share sale to institutional investors.
Sources with direct knowledge of the deal said that joining a string of firms raising equity.
One Source said that "The deal can be launched tomorrow, the next day or early next week. We are just waiting for the window of opportunity.”
The source added that Citigroup, Morgan Stanley and Bank of America Merrill Lynch are the arrangers to the offer.
(Sourced from www.steelguru.com)
Sources with direct knowledge of the deal said that joining a string of firms raising equity.
One Source said that "The deal can be launched tomorrow, the next day or early next week. We are just waiting for the window of opportunity.”
The source added that Citigroup, Morgan Stanley and Bank of America Merrill Lynch are the arrangers to the offer.
(Sourced from www.steelguru.com)
Work on checking oil spill from MV Black Rose, the sunken vessel has taken off a day after the visit of the high
Work on checking oil spill from MV Black Rose, the sunken vessel has taken off a day after the visit of the high level expert team from the Centre.
The work has been awarded to J Enterprises and Divers Ltd a Visakhapatnam-based agency by the authorities of Paradeep Port Trust.
Sources said that oil started oozing out from the vessel from September 21. Environmental experts had warned that oil leakage posed a threat to marine creatures as well as the ecology of Bay of Bengal.
Locals and fishermen said oil leakage would kill fishes and crabs along the Paradeep shore. They found a thick layer of greasy black dust on the beach.
Later the officials of the Orissa State Pollution Control Board visited the spot and warned of large scale oil spill from the vessel. OSPCB had directed the PPT authorities and the Indian Coast Guard to take precautionary measures to check environmental and marine pollution.
The vessel was loaded with 23, 847 tonnes of iron ore fines, 924 tonnes of furnace oil, 50 tonnes of diesel and 40 tonnes of grease.
(Sourced from www.steelgruu.com)
The work has been awarded to J Enterprises and Divers Ltd a Visakhapatnam-based agency by the authorities of Paradeep Port Trust.
Sources said that oil started oozing out from the vessel from September 21. Environmental experts had warned that oil leakage posed a threat to marine creatures as well as the ecology of Bay of Bengal.
Locals and fishermen said oil leakage would kill fishes and crabs along the Paradeep shore. They found a thick layer of greasy black dust on the beach.
Later the officials of the Orissa State Pollution Control Board visited the spot and warned of large scale oil spill from the vessel. OSPCB had directed the PPT authorities and the Indian Coast Guard to take precautionary measures to check environmental and marine pollution.
The vessel was loaded with 23, 847 tonnes of iron ore fines, 924 tonnes of furnace oil, 50 tonnes of diesel and 40 tonnes of grease.
(Sourced from www.steelgruu.com)
It is reported that the second liquefied natural gas cargo imported via spot market by State owned Gujarat State Petroleum Corporation Ltd
It is reported that the second liquefied natural gas cargo imported via spot market by State owned Gujarat State Petroleum Corporation Ltd arrived on Monday at Petronet LNG Ltd’s terminal at Dahej in Bharuch district of Gujarat.
This is part of GSPC’s business strategy to actively enter the LNG trading business by importing a cargo every month and establishing it as a fast revenue earner before its own terminal at Mundra which has an initial capacity to import 6.5 million tonnes per annum of gas commences operation in 2012-13. GSPC and the Adanis are partners in this terminal and are looking for other strategic partners to pick up the balance equity.
The terminal is being developed with an investment of INR 3,500 crore and will have two storage tanks and a jetty.
Currently, GSPC is the only ‘non-terminal owner’ gas company in the country to have independently purchased two LNG cargoes recently, receiving them both at Dahej.
Mr DJ Pandian MD Public offer of GSPC said that “This is another step by GSPC towards building on its LNG trading business and achieving its ambition to develop its own LNG terminal.”
GSPC is expected to hit the capital market this financial year to garner around INR 5,000 crore through an IPO to develop its hydrocarbon fields in the Krishna-Godavari Basin’s Deendayal gas field from where gas would be evacuated through a Reliance Industries’ pipeline between Andhra Pradesh and Gujarat.
(Sourced from www.steelguru.com)
This is part of GSPC’s business strategy to actively enter the LNG trading business by importing a cargo every month and establishing it as a fast revenue earner before its own terminal at Mundra which has an initial capacity to import 6.5 million tonnes per annum of gas commences operation in 2012-13. GSPC and the Adanis are partners in this terminal and are looking for other strategic partners to pick up the balance equity.
The terminal is being developed with an investment of INR 3,500 crore and will have two storage tanks and a jetty.
Currently, GSPC is the only ‘non-terminal owner’ gas company in the country to have independently purchased two LNG cargoes recently, receiving them both at Dahej.
Mr DJ Pandian MD Public offer of GSPC said that “This is another step by GSPC towards building on its LNG trading business and achieving its ambition to develop its own LNG terminal.”
GSPC is expected to hit the capital market this financial year to garner around INR 5,000 crore through an IPO to develop its hydrocarbon fields in the Krishna-Godavari Basin’s Deendayal gas field from where gas would be evacuated through a Reliance Industries’ pipeline between Andhra Pradesh and Gujarat.
(Sourced from www.steelguru.com)
Bharati Shipyard expects nod for Great Offshore open offer soon
Bharati Shipyard announced an open offer for an additional 20% stake in Great Offshore and t was expecting approval for its offer in the next 10 days from the Securities and Exchange Board of India.
As per report the company has so far acquired a 22.5% stake in the drilling company for INR 305 crore. The additional 20% would cost about INR 560 crore at the current price.
Bharati’s competitor for taking control ABG Shipyard has made a counter offer to Great Offshore’s shareholders and it is also awaiting the market regulator’s approval.
Bharati at its annual general meeting in Mumbai said that it had a capital expenditure plan of INR 200 crore for the next two years. It today got shareholders’ approval to raise fresh funds. But the company did not specify the amount it plans to raise. Bharati also expects INR 277 crore of subsidy from the government by the end of this financial year.
(Sourced from www.steelguru.com)
As per report the company has so far acquired a 22.5% stake in the drilling company for INR 305 crore. The additional 20% would cost about INR 560 crore at the current price.
Bharati’s competitor for taking control ABG Shipyard has made a counter offer to Great Offshore’s shareholders and it is also awaiting the market regulator’s approval.
Bharati at its annual general meeting in Mumbai said that it had a capital expenditure plan of INR 200 crore for the next two years. It today got shareholders’ approval to raise fresh funds. But the company did not specify the amount it plans to raise. Bharati also expects INR 277 crore of subsidy from the government by the end of this financial year.
(Sourced from www.steelguru.com)
Under the ongoing CSR activities VSP
RINL CSR Gesture
Thursday, 01 Oct 2009
Under the ongoing CSR activities VSP and Sankar Foundation Eye Hospital Visakhapatnam organized a free cataract eye camp at Kanithinadu Palem in Islampeta.
Cataract surgeries for the patients suffering from cataract are being done on behalf of RINL-VSP, free of cost at Sankar Foundation Hospital at Vepagunta near Pendurthi in Visakhapatnam.
www.steelguru.com
Thursday, 01 Oct 2009
Under the ongoing CSR activities VSP and Sankar Foundation Eye Hospital Visakhapatnam organized a free cataract eye camp at Kanithinadu Palem in Islampeta.
Cataract surgeries for the patients suffering from cataract are being done on behalf of RINL-VSP, free of cost at Sankar Foundation Hospital at Vepagunta near Pendurthi in Visakhapatnam.
www.steelguru.com
HRC price drops by INR 92 a tonne at Ahmedabad on Sep 30
HRC
Tube
2.5x1250
Location Change
Mumbai 0
Kolkata 0
Delhi 0
Ludhiana 0
Ahmedabad -92
Bangalore 0
Change is on September 30th as compared to September 29th 2009
Change is in INR per tonne
To know exact prevailing steel prices in India in 29 locations on daily basis, subscribe to services of www.steelprices-india.com by registering or sending a mail to admin@steelprices-india.com Please note that this is a paid service.
(Sourced from www.steelprices-india.com)
Tube
2.5x1250
Location Change
Mumbai 0
Kolkata 0
Delhi 0
Ludhiana 0
Ahmedabad -92
Bangalore 0
Change is on September 30th as compared to September 29th 2009
Change is in INR per tonne
To know exact prevailing steel prices in India in 29 locations on daily basis, subscribe to services of www.steelprices-india.com by registering or sending a mail to admin@steelprices-india.com Please note that this is a paid service.
(Sourced from www.steelprices-india.com)
Sponge iron price movements on Sep 30
Sponge iron price movements on Sep 30
Thursday, 01 Oct 2009
Sponge iron
Location Change
Kolkata 0
Raipur -200
Raigarh 200
Rourkela 0
Change is on September 30th as compared to September 29th 2009
Change is in INR per tonne
To know exact prevailing steel prices in India in 29 locations on daily basis, subscribe to services of www.steelprices-india.com by registering or sending a mail to admin@steelprices-india.com Please note that this is a paid service.
(Sourced from www.steelprices-india.com)
Thursday, 01 Oct 2009
Sponge iron
Location Change
Kolkata 0
Raipur -200
Raigarh 200
Rourkela 0
Change is on September 30th as compared to September 29th 2009
Change is in INR per tonne
To know exact prevailing steel prices in India in 29 locations on daily basis, subscribe to services of www.steelprices-india.com by registering or sending a mail to admin@steelprices-india.com Please note that this is a paid service.
(Sourced from www.steelprices-india.com)
GC (HDG) price decreases in Ludhiana
GC
100Gms
0.40
Location Change
Mumbai 0
Chennai 0
Kolkata 0
Delhi 0
Ludhiana -185
Kanpur 0
Rudrapur 0
Bangalore 0
Change is on September 30th as compared to September 29th 2009
Change is in INR per tonne
To know exact prevailing steel prices in India in 29 locations on daily basis, subscribe to services of www.steelprices-india.com by registering or sending a mail to admin@steelprices-india.com Please note that this is a paid service.
(Sourced from www.steelprices-india.com)
100Gms
0.40
Location Change
Mumbai 0
Chennai 0
Kolkata 0
Delhi 0
Ludhiana -185
Kanpur 0
Rudrapur 0
Bangalore 0
Change is on September 30th as compared to September 29th 2009
Change is in INR per tonne
To know exact prevailing steel prices in India in 29 locations on daily basis, subscribe to services of www.steelprices-india.com by registering or sending a mail to admin@steelprices-india.com Please note that this is a paid service.
(Sourced from www.steelprices-india.com)
Tuesday, September 29, 2009
PGCIL helps meeting power demand in peak time
A record peak power demand of 99,027MW was met on September 21st 2009 during evening peak hours. Last year during this period maximum peak demand met in the country was around 84,885 MW. Thus a growth of 16.7% has been observed in meeting peak demand in the country.
The highest peak availability has been possible due to improved hydro generation revival of thermal units which were under maintenance and strong inter regional links established by Power Grid Corporation of India Limited a Navratna PSE under Ministry of Power and the Central Transmission Utility of the country.
It is expected that peak availability of power in the country may reach in six digits very soon. In terms of energy, total consumption on 21.09.09 was 2.20 billion units as compared to 1.82 billion units on 21.09.08 resulting in rise of about 21.1%. The hydro power generation was 472 MU, ie 7.4% increase as compared to 439 MU on the same day last year.
Establishment of National Grid by POWERGRID is facilitating transfer of surplus power across the country. A vibrant power market is working in the country and POWERGRID’s network facilitated all the transactions approved by power exchanges without any congestion in any of the areas.
The existing inter-regional power transfer capacity of 20,800 MW is planned to be enhanced further depending upon generation capacity addition through strengthening of regional grids and building more inter-regional links.
POWERGRID has emerged as one of the largest and best managed transmission utilities in the world and playing a strategic role in Indian Power Sector. At present, POWERGRID is operating around 72,500 ckt kilometers of transmission lines and 124 Substations with a transformation capacity of 82,100 MVA.
Sourse From: www.steelguru.com
The highest peak availability has been possible due to improved hydro generation revival of thermal units which were under maintenance and strong inter regional links established by Power Grid Corporation of India Limited a Navratna PSE under Ministry of Power and the Central Transmission Utility of the country.
It is expected that peak availability of power in the country may reach in six digits very soon. In terms of energy, total consumption on 21.09.09 was 2.20 billion units as compared to 1.82 billion units on 21.09.08 resulting in rise of about 21.1%. The hydro power generation was 472 MU, ie 7.4% increase as compared to 439 MU on the same day last year.
Establishment of National Grid by POWERGRID is facilitating transfer of surplus power across the country. A vibrant power market is working in the country and POWERGRID’s network facilitated all the transactions approved by power exchanges without any congestion in any of the areas.
The existing inter-regional power transfer capacity of 20,800 MW is planned to be enhanced further depending upon generation capacity addition through strengthening of regional grids and building more inter-regional links.
POWERGRID has emerged as one of the largest and best managed transmission utilities in the world and playing a strategic role in Indian Power Sector. At present, POWERGRID is operating around 72,500 ckt kilometers of transmission lines and 124 Substations with a transformation capacity of 82,100 MVA.
Sourse From: www.steelguru.com
NHPC defends issue price and says INR 36 per share justified
It is reported that NHPC stock saw muted response in trade post its listing falling below it’s issue price. However Mr SK Garg CMD of NHPC defends the issue price saying that it was justified at INR 36 per share adding that offloading by high net individuals was perhaps the biggest factor for slippage of the stock.
Mr Garg expects the stock to pick up in the near future. He further said that currently, the company’s return on equity was at 17% across its 13 power stations. The installed capacity of the company will be 9500 MW by 2013.
Here is a verbatim transcript of the exclusive interview with Mr SK Garg on CNBC-TV18.
Q. On hindsight it seems it would have been prudent for you to price that issue at the lower end of the band and not at INR 36 where you chose to?
A - I don’t think because what has happened is the price which we had earlier decided, was quite reasonable and as I mentioned several times earlier also that it was neither overpriced not under priced. So far the price of our share is concerned INR 36 from the upper band I think this was a right price and we have gone ahead with that. On the day of listing, on the September 1, it opened on a positive note with an 8% rise and went up to INR 42. After that there was some decline. We have been observing that it’s touching INR 33 to INR 34, it’s hovering around that. But overall, as far as shares are concerned, as things are moving in the corporation itself and more projects are on the threshold of commissioning, we hope our shares will pickup in the foreseeable future. So in totality, I still feel that the pricing we have decided is still reasonable.
(Sourced from www.steelguru.com)
Mr Garg expects the stock to pick up in the near future. He further said that currently, the company’s return on equity was at 17% across its 13 power stations. The installed capacity of the company will be 9500 MW by 2013.
Here is a verbatim transcript of the exclusive interview with Mr SK Garg on CNBC-TV18.
Q. On hindsight it seems it would have been prudent for you to price that issue at the lower end of the band and not at INR 36 where you chose to?
A - I don’t think because what has happened is the price which we had earlier decided, was quite reasonable and as I mentioned several times earlier also that it was neither overpriced not under priced. So far the price of our share is concerned INR 36 from the upper band I think this was a right price and we have gone ahead with that. On the day of listing, on the September 1, it opened on a positive note with an 8% rise and went up to INR 42. After that there was some decline. We have been observing that it’s touching INR 33 to INR 34, it’s hovering around that. But overall, as far as shares are concerned, as things are moving in the corporation itself and more projects are on the threshold of commissioning, we hope our shares will pickup in the foreseeable future. So in totality, I still feel that the pricing we have decided is still reasonable.
(Sourced from www.steelguru.com)
Shipping rates see reverse trend
Freight rates for shipping tankers and bulk carriers have seen a reverse trend in the last three weeks, as the approaching winter increases the demand for crude carriers while the rising inventory of iron ore in China dampens the requirement for the vessels it is carried by.
The Baltic Dirty Tanker Index a benchmark for the freight rate of crude carriers rose by 20% in three weeks to 565 on Friday.
Mr KS Nair director of bulk carrier and tanker segment at the Shipping Corporation of India said that “It is only the winter effect that has helped the tanker rates move up. Freight rates are not expected to have surprises in the next one year.”
According to Mr Nair, bulk carriers can handle their operational cost at the 4,000 to 4,500 index level and running at the current freight rate is tough. He added that it is the high inventory of iron ore in China that has affected the freight rate for the bulk carriers.
Mr Yudhishthir Khatau MD of Varun Shipping said that “For tankers, depending on the routes, some players are able to recover the operational cost even at these levels. But it is too early to say whether it is cyclical effect of approaching winter or it is headed for a long-term recovery.”
Consumption of oil in western countries increases in winter on account of the heating requirements and usually this period sees an uptake in demand for tankers. However Mr Jehangir Adi Master a shipping industry analyst with ICICI Securities said that “Freight rates are set for gradual recovery.”
He estimates the Baltic Dry Index to rise by 20% by the end of the current year as economies have been recovering globally and demand picking up. He added that “Tanker rates may also rise by 20% to 25% by the end of the year.”
(Sourced from Business Standards)
The Baltic Dirty Tanker Index a benchmark for the freight rate of crude carriers rose by 20% in three weeks to 565 on Friday.
Mr KS Nair director of bulk carrier and tanker segment at the Shipping Corporation of India said that “It is only the winter effect that has helped the tanker rates move up. Freight rates are not expected to have surprises in the next one year.”
According to Mr Nair, bulk carriers can handle their operational cost at the 4,000 to 4,500 index level and running at the current freight rate is tough. He added that it is the high inventory of iron ore in China that has affected the freight rate for the bulk carriers.
Mr Yudhishthir Khatau MD of Varun Shipping said that “For tankers, depending on the routes, some players are able to recover the operational cost even at these levels. But it is too early to say whether it is cyclical effect of approaching winter or it is headed for a long-term recovery.”
Consumption of oil in western countries increases in winter on account of the heating requirements and usually this period sees an uptake in demand for tankers. However Mr Jehangir Adi Master a shipping industry analyst with ICICI Securities said that “Freight rates are set for gradual recovery.”
He estimates the Baltic Dry Index to rise by 20% by the end of the current year as economies have been recovering globally and demand picking up. He added that “Tanker rates may also rise by 20% to 25% by the end of the year.”
(Sourced from Business Standards)
Nissan to launch Infiniti brand in India
Affluent Indian automobile buyers may get another brand to choose from Japan’s Nissan third largest car maker is looking at the possibility of launching Infiniti a luxury brand owned by it in India.
Known for its luxurious features and power packed driving characteristics, Infiniti is a premium brand which competes with benchmark ones globally such as Mercedes, BMW, Porsche, Audi and Accura.
Mr Kiminobu Tokuyama MD and CEO of Nissan Motor India told Business Standard that “We have got a global Infiniti business unit which is a separate unit from Nissan Motor Company. They have been studying all the opportunities and I am sure they will start studying the Indian market, as it is the best potential market in the world.”
Nissan has been pushing for expansion of the Infiniti brand into newer markets across the globe Taiwan, South Korea, Russia, Ukraine, China and Western Europe over the years. The brand is popular in the very developed automotive markets of the US and Canada.
However, if launched in India, all Infiniti models would carry a hefty price tag, as they would not be locally made and will have to pay 100 per cent duty.
Infiniti’s line up includes sedans, coupes, convertibles, sports utility vehicles and SUV coupes, falling in the range of USD 33,250 (INR 1.6 million) to USD 56,050 (INR 2.7 million) in the US market. These vehicles are propelled by engines of capacities ranging from 3.6 liter V6, 328 BHP to 5.6 liter, V8, 320-bhp.
(Sourced from Business Standards)
Known for its luxurious features and power packed driving characteristics, Infiniti is a premium brand which competes with benchmark ones globally such as Mercedes, BMW, Porsche, Audi and Accura.
Mr Kiminobu Tokuyama MD and CEO of Nissan Motor India told Business Standard that “We have got a global Infiniti business unit which is a separate unit from Nissan Motor Company. They have been studying all the opportunities and I am sure they will start studying the Indian market, as it is the best potential market in the world.”
Nissan has been pushing for expansion of the Infiniti brand into newer markets across the globe Taiwan, South Korea, Russia, Ukraine, China and Western Europe over the years. The brand is popular in the very developed automotive markets of the US and Canada.
However, if launched in India, all Infiniti models would carry a hefty price tag, as they would not be locally made and will have to pay 100 per cent duty.
Infiniti’s line up includes sedans, coupes, convertibles, sports utility vehicles and SUV coupes, falling in the range of USD 33,250 (INR 1.6 million) to USD 56,050 (INR 2.7 million) in the US market. These vehicles are propelled by engines of capacities ranging from 3.6 liter V6, 328 BHP to 5.6 liter, V8, 320-bhp.
(Sourced from Business Standards)
GAIL constructing INR 18,000 crore worth of pipelines
It is reported that state run utility GAIL Ltd is constructing pipelines worth INR 18,000 crore, which will augment its gas transportation network by 6,000 kilometres over the next three years.
Mr A K Purwaha director business development of GAIL said that “We currently have pipelines worth INR 18,000 crore under construction. We will be adding 6,000 kilometers of pipelines over the next 3 to 4 years.”
He added that the company, at present has a network of 7,000 kilometers. The company has invested in five new pipelines and taken up upgradation of some existing networks.
GAIL had earlier said that it would lay a 600 km pipeline from Jhabua to Kailaras in Madhya Pradesh at an estimated cost of INR 3,000 crore. It also plans to commission a few pipelines in the current fiscal, Purwaha said, but did not give details.
GAIL, which has a CAPEX plan of INR 5,558 crore in 2009-10 plans to more than double the amount of gas it transports by 2011-12.
(Sourced from Business Line)
Mr A K Purwaha director business development of GAIL said that “We currently have pipelines worth INR 18,000 crore under construction. We will be adding 6,000 kilometers of pipelines over the next 3 to 4 years.”
He added that the company, at present has a network of 7,000 kilometers. The company has invested in five new pipelines and taken up upgradation of some existing networks.
GAIL had earlier said that it would lay a 600 km pipeline from Jhabua to Kailaras in Madhya Pradesh at an estimated cost of INR 3,000 crore. It also plans to commission a few pipelines in the current fiscal, Purwaha said, but did not give details.
GAIL, which has a CAPEX plan of INR 5,558 crore in 2009-10 plans to more than double the amount of gas it transports by 2011-12.
(Sourced from Business Line)
Omaxe to invest INR 1,500 crore in four projects
Realty firm Omaxe said that it will develop four new housing projects at an investment of INR 1,500 crore over the next three years and is mulling increasing prices of existing projects within three months.
Mr Rohtas Goel CMD of OMAXE on the sidelines of a National Real Estate Development Council said that “We will launch four projects in the next two months. Our plan is to develop a total of about 2,000 units in these projects.”
Mr goal said that the company would launch the projects in Faridabad, Indore, Allahabad and Chandigarh within the next two months and it has already acquired the land. He added that “The total investment will be about INR 1,500 crore and we are expecting a revenue realization of INR 2,300 crore over the next 30 months.”
The National Capital based company would consider increasing the prices of its products within this year. Mr Goal said that “I guess demand will be such that I may have to raise prices in my existing projects within this year.”
Asked about the quantum of possible price hike, he said that it would be in single digit, but in future, it may be more.
(Sourced from http://www.steelguru.com/news/index/2009/09/30/MTEzOTcw/Omaxe_to_invest_INR_1%252C500_crore_in_four_projects.html)
Mr Rohtas Goel CMD of OMAXE on the sidelines of a National Real Estate Development Council said that “We will launch four projects in the next two months. Our plan is to develop a total of about 2,000 units in these projects.”
Mr goal said that the company would launch the projects in Faridabad, Indore, Allahabad and Chandigarh within the next two months and it has already acquired the land. He added that “The total investment will be about INR 1,500 crore and we are expecting a revenue realization of INR 2,300 crore over the next 30 months.”
The National Capital based company would consider increasing the prices of its products within this year. Mr Goal said that “I guess demand will be such that I may have to raise prices in my existing projects within this year.”
Asked about the quantum of possible price hike, he said that it would be in single digit, but in future, it may be more.
(Sourced from http://www.steelguru.com/news/index/2009/09/30/MTEzOTcw/Omaxe_to_invest_INR_1%252C500_crore_in_four_projects.html)
Karnataka Power to add 6,000 MW of power in 5 years
Karnataka Power Corporation Limited the state owned power generator has set an ambitious target of becoming an energy surplus state with the addition of about 6,000 MW over the next five years.
A top official said that it is expanding the installed capacity to 12,000 MW by 2013 from 6,000 MW presently through various sources of energy.
Mr S M Jaamdar MD of KPCL said that “With demand exceeding supply, we have been facing a crunch in meeting the growing requirement for power across the state from utilities and end users.”
He added that during the current financial year, KPCL is planning to commission the eighth unit of 250 MW at Raichur Thermal Power Station. The total capital expenditure for 2009-10 is pegged at INR 1,800 crore about 45% more than last year.
Being more dependent on hydel generation KPCL is scouting for partners to set up a 2100 MW gas-based thermal power plant at Tadadi in the coastal district of Uttara Kannada, about 550 km from here. The mega project is estimated to cost about INR 7,500 crore.
About 60% of the state’s energy is generated from hydel sources, 30% from thermal coal and the balance 10 per cent from wind, solar and atomic power plant at Kaiga in Uttara Kannada district. Captive units and independent private producers chip in to meet the shortage.
Mr Jaamdar said that a global tender for gas supply drew a good response, with 16 national and international firms showing interest in setting up a dedicated LNG (liquefied natural gas) terminal for the Tadadi project.
Firstly, to become self-sufficient, KPCL is setting up a 1200 Mw thermal power plant in Chattisgarh at an estimated cost of INR 6,000 crore with coal from the state-run South Eastern Coalfields, which has mines in the northern region of the state. The project is expected to be completed in 36 months from the date of commissioning in mid 2010.
(Sourced from http://www.steelguru.com/news/index/2009/09/30/MTEzOTY5/Karnataka_Power_to_add_6%252C000_MW_of_power_in_5_years.html)
A top official said that it is expanding the installed capacity to 12,000 MW by 2013 from 6,000 MW presently through various sources of energy.
Mr S M Jaamdar MD of KPCL said that “With demand exceeding supply, we have been facing a crunch in meeting the growing requirement for power across the state from utilities and end users.”
He added that during the current financial year, KPCL is planning to commission the eighth unit of 250 MW at Raichur Thermal Power Station. The total capital expenditure for 2009-10 is pegged at INR 1,800 crore about 45% more than last year.
Being more dependent on hydel generation KPCL is scouting for partners to set up a 2100 MW gas-based thermal power plant at Tadadi in the coastal district of Uttara Kannada, about 550 km from here. The mega project is estimated to cost about INR 7,500 crore.
About 60% of the state’s energy is generated from hydel sources, 30% from thermal coal and the balance 10 per cent from wind, solar and atomic power plant at Kaiga in Uttara Kannada district. Captive units and independent private producers chip in to meet the shortage.
Mr Jaamdar said that a global tender for gas supply drew a good response, with 16 national and international firms showing interest in setting up a dedicated LNG (liquefied natural gas) terminal for the Tadadi project.
Firstly, to become self-sufficient, KPCL is setting up a 1200 Mw thermal power plant in Chattisgarh at an estimated cost of INR 6,000 crore with coal from the state-run South Eastern Coalfields, which has mines in the northern region of the state. The project is expected to be completed in 36 months from the date of commissioning in mid 2010.
(Sourced from http://www.steelguru.com/news/index/2009/09/30/MTEzOTY5/Karnataka_Power_to_add_6%252C000_MW_of_power_in_5_years.html)
Parsvnath to raise about USD 35 million through QIP
It is reported that realty firm Parsvnath Developers plans to raise USD 35 million through private placements of shares to cut its debt and complete ongoing projects.
Market sources said that Parsvnath is planning to raise USD 35 million through qualified institutional placements route which was launched last week. The added that the company might decide to raise more funds if there is demand from the investors.
The company would issue fresh shares for the QIP. Earlier, Parsvnath had said that it would raise USD 100 million to USD 150 million in the first phase. The company's board of directors had approved raising of up to INR 2,500 crore through various instruments.
Parsvnath will utilize the funds raised through QIP to cut debt, which stands at about INR 1,600 crore and complete the existing projects. It is aiming to reduce debt to about INR 600 crore to INR 700 crore by the end of this fiscal.
The company has a land bank of about 193 million square feet of which 80 million sq ft is under construction. It operates in all the verticals of real estate, including housing, retail, offices, SEZs, hotels and integrated townships.
In the last few months, many real estate firms including Unitech, have raised funds through QIPs to improve their cash flow, which has been severely hit due to huge slowdown in the sector from last one year.
(Sourced from http://www.steelguru.com/news/index/2009/09/30/MTEzOTY4/Parsvnath_to_raise_about_USD_35_million_through_QIP.html)
Market sources said that Parsvnath is planning to raise USD 35 million through qualified institutional placements route which was launched last week. The added that the company might decide to raise more funds if there is demand from the investors.
The company would issue fresh shares for the QIP. Earlier, Parsvnath had said that it would raise USD 100 million to USD 150 million in the first phase. The company's board of directors had approved raising of up to INR 2,500 crore through various instruments.
Parsvnath will utilize the funds raised through QIP to cut debt, which stands at about INR 1,600 crore and complete the existing projects. It is aiming to reduce debt to about INR 600 crore to INR 700 crore by the end of this fiscal.
The company has a land bank of about 193 million square feet of which 80 million sq ft is under construction. It operates in all the verticals of real estate, including housing, retail, offices, SEZs, hotels and integrated townships.
In the last few months, many real estate firms including Unitech, have raised funds through QIPs to improve their cash flow, which has been severely hit due to huge slowdown in the sector from last one year.
(Sourced from http://www.steelguru.com/news/index/2009/09/30/MTEzOTY4/Parsvnath_to_raise_about_USD_35_million_through_QIP.html)
Gujarat ranks 6th in creating jobs in state owned firms
It is reported that Gujarat which made the highest investment among states in public enterprises is ranked sixth in terms of generating employment in these units.
A survey said that Andhra Pradesh which topped the list of 10 states for generating jobs in the State Level Public Enterprises was the fourth largest investor.
According to a National Survey on SLPEs, investments and employment do not go hand in hand in SLPEs. Andhra Pradesh generated jobs for 2,650,81 people as on March 31st 2007, in its SLPEs while its investment in these units was INR 32,993 crore far less than INR 46,169 crore invested in the Gujarat units.
According to the survey, likewise Tamil Nadu which ranked ninth in terms of investments in SLPEs turned out to be the second best employer in terms of jobs in the SLPEs. In all, 837 SLPEs with a total investment of INR 333,441 crore generated an aggregate employment for 1.8 million employees as per the data collated up to March 2007.
The SLPEs have been operating in areas such as mining, public distribution/trading and marketing, warehousing, tourism, handicrafts and handloom development, forest and fisheries development, financial services and housing.
(Sourced from www.steelguru.com)
A survey said that Andhra Pradesh which topped the list of 10 states for generating jobs in the State Level Public Enterprises was the fourth largest investor.
According to a National Survey on SLPEs, investments and employment do not go hand in hand in SLPEs. Andhra Pradesh generated jobs for 2,650,81 people as on March 31st 2007, in its SLPEs while its investment in these units was INR 32,993 crore far less than INR 46,169 crore invested in the Gujarat units.
According to the survey, likewise Tamil Nadu which ranked ninth in terms of investments in SLPEs turned out to be the second best employer in terms of jobs in the SLPEs. In all, 837 SLPEs with a total investment of INR 333,441 crore generated an aggregate employment for 1.8 million employees as per the data collated up to March 2007.
The SLPEs have been operating in areas such as mining, public distribution/trading and marketing, warehousing, tourism, handicrafts and handloom development, forest and fisheries development, financial services and housing.
(Sourced from www.steelguru.com)
Patra (Narrow HR strips) price remains flat in Delhi
Patra
Location Change
Delhi 0
Mandi -277
Ludhiana -185
Change is on September 29th as compared to September 25th 2009
Change is in INR per tonne
To know exact prevailing steel prices in India in 29 locations on daily basis, subscribe to services of www.steelprices-india.com by registering or sending a mail to admin@steelprices-india.com Please note that this is a paid service.
(Sourced from www.steelprices-india.com)
Location Change
Delhi 0
Mandi -277
Ludhiana -185
Change is on September 29th as compared to September 25th 2009
Change is in INR per tonne
To know exact prevailing steel prices in India in 29 locations on daily basis, subscribe to services of www.steelprices-india.com by registering or sending a mail to admin@steelprices-india.com Please note that this is a paid service.
(Sourced from www.steelprices-india.com)
HR steel prices stable except in Ludhiana and Ahmedabad
HRC
Tube
2.5x1250
Location Change
Mumbai 0
Kolkata 0
Delhi 0
Ludhiana -277
Ahmedabad -462
Bangalore 0
Change is on September 29th as compared to September 25th 2009
Change is in INR per tonne
To know exact prevailing steel prices in India in 29 locations on daily basis, subscribe to services of www.steelprices-india.com by registering or sending a mail to admin@steelprices-india.com Please note that this is a paid service.
(Sourced from www.steelprices-india.com)
Tube
2.5x1250
Location Change
Mumbai 0
Kolkata 0
Delhi 0
Ludhiana -277
Ahmedabad -462
Bangalore 0
Change is on September 29th as compared to September 25th 2009
Change is in INR per tonne
To know exact prevailing steel prices in India in 29 locations on daily basis, subscribe to services of www.steelprices-india.com by registering or sending a mail to admin@steelprices-india.com Please note that this is a paid service.
(Sourced from www.steelprices-india.com)
Indian sponge iron price movements on Sep 29
Sponge iron
Location Change
Kolkata 0
Raipur 400
Raigarh 0
Rourkela -400
Change is on September 29th as compared to September 25th 2009
Change is in INR per tonne
To know exact prevailing steel prices in India in 29 locations on daily basis, subscribe to services of www.steelprices-india.com by registering or sending a mail to admin@steelprices-india.com Please note that this is a paid service.
(Sourced from www.steelprices-india.com)
Location Change
Kolkata 0
Raipur 400
Raigarh 0
Rourkela -400
Change is on September 29th as compared to September 25th 2009
Change is in INR per tonne
To know exact prevailing steel prices in India in 29 locations on daily basis, subscribe to services of www.steelprices-india.com by registering or sending a mail to admin@steelprices-india.com Please note that this is a paid service.
(Sourced from www.steelprices-india.com)
Monday, September 28, 2009
Larsen and Toubro unit to go on stream in the Port of Sohar
Oman Daily Observer reported that Larsen & Toubro Heavy Engineering LLC will formally launch operations at its state of the art yard in the Port of Sohar next month.
Mr MV Kotwal chairman of L&T Heavy Engineering LLC, who is also a member of the board and senior executive VP of the parent company Larsen & Toubro, said that the project JV of Indian engineering and construction giant Larsen & Toubro and the Zubair Corporation of Oman will help drive the Sultanate's aspirations for a greater market share in the manufacture of critical equipment for the region's rapidly expanding hydrocarbons and petrochemicals industries.
He said that "This facility will help carve out a place for the Sultanate on the world map of countries with specialist know how in the fabrication of mega dimensioned and high tech equipment for the process industry. The project will reinforce Oman's credentials as an emerging engineering technology heavyweight."
Spread over an area of 300,000 square meters, the L&T HE yard features a covered fabrication shop of around 12,000 square meters fitted out with an array of sophisticated manufacturing systems. It is equipped to manufacture precision custom designed and engineered critical equipment and systems for core sector industries, such as refineries, petrochemical and fertilizer projects and other process industries and power plants in the region.
Given its unrivalled expertise in the handling of metals and the engineering of complex metallurgical products, the facility will also cater to the specialist needs of high tech industries across the Middle East. L&T Heavy Engineering is backed by India based Larsen & Toubro USD 8.5 billion globally renowned technology, engineering and construction company, which has manufacturing facilities in eight countries and exports to over 30 countries. The parent organization has a distinguished record of achievements, such as the fabrication of the world's largest coal gasifier made in India and exported to China, the largest tubular reactor for Kuwait, the longest product splitter for Saudi Arabia, as well as the largest continuous catalyst regeneration reactor all executed to internationally accepted quality benchmarks.
A key advantage enjoyed by L&T HE is its access to a dedicated 300 meter long jetty at the Port of Sohar designed to handle load outs of ultra heavy modules in excess of 10,000 tonnes. This waterfront access and load out capability will provide added leverage to the company as it bids for lucrative fabrication contracts in the multibillion dollar regional process industry. Furthermore, its location adjacent to the equally state of the art fabrication facility of its sister concern, the L&T Modular Fabrication Yard LLC, promises complementary synergies that either venture can capitalize on in securing high end contracts.
The Modular Fabrication Yard, which commenced operations 2 years, specializes in the fabrication of offshore marine structures. Its expertise covers the fabrications of jack up and semi submersible rigs, the conversion and integration of Floating Production Storage and Offloading systems and other high end offshore structures.
Mr Sanjay Sharma CEO of L&T Heavy Engineering LLC noted that "With our robust knowledge base and the technical backup of our units in India, we aim to be strongly focused on the Gulf region. Our facility has been certified by ASME for a wide range of technical standards."
Indeed, marking a successful start to its operations, L&T HE has already bagged a contract for the manufacture of 2 critical systems for a major refinery project. Made of special alloy steel with stainless steel overlay, the systems are due for delivery by the end of this year. Significantly, the project will contribute significantly to the transfer of specialist engineering technology and know how to the Sultanate. Key personnel from L&T's premier fabrication facilities at Powai and Hazira in India are already engaged in the training of young Omanis at a state run vocational training institute in the Batinah region. A number of high school graduates are presently being groomed in specialized trades like welding, fitting and so on.
(Sourced from http://www.steelguru.com/news/index/2009/09/29/MTEzNzE4/Larsen_and_Toubro_unit_to_go_on_stream_in_the_Port_of_Sohar.html)
Mr MV Kotwal chairman of L&T Heavy Engineering LLC, who is also a member of the board and senior executive VP of the parent company Larsen & Toubro, said that the project JV of Indian engineering and construction giant Larsen & Toubro and the Zubair Corporation of Oman will help drive the Sultanate's aspirations for a greater market share in the manufacture of critical equipment for the region's rapidly expanding hydrocarbons and petrochemicals industries.
He said that "This facility will help carve out a place for the Sultanate on the world map of countries with specialist know how in the fabrication of mega dimensioned and high tech equipment for the process industry. The project will reinforce Oman's credentials as an emerging engineering technology heavyweight."
Spread over an area of 300,000 square meters, the L&T HE yard features a covered fabrication shop of around 12,000 square meters fitted out with an array of sophisticated manufacturing systems. It is equipped to manufacture precision custom designed and engineered critical equipment and systems for core sector industries, such as refineries, petrochemical and fertilizer projects and other process industries and power plants in the region.
Given its unrivalled expertise in the handling of metals and the engineering of complex metallurgical products, the facility will also cater to the specialist needs of high tech industries across the Middle East. L&T Heavy Engineering is backed by India based Larsen & Toubro USD 8.5 billion globally renowned technology, engineering and construction company, which has manufacturing facilities in eight countries and exports to over 30 countries. The parent organization has a distinguished record of achievements, such as the fabrication of the world's largest coal gasifier made in India and exported to China, the largest tubular reactor for Kuwait, the longest product splitter for Saudi Arabia, as well as the largest continuous catalyst regeneration reactor all executed to internationally accepted quality benchmarks.
A key advantage enjoyed by L&T HE is its access to a dedicated 300 meter long jetty at the Port of Sohar designed to handle load outs of ultra heavy modules in excess of 10,000 tonnes. This waterfront access and load out capability will provide added leverage to the company as it bids for lucrative fabrication contracts in the multibillion dollar regional process industry. Furthermore, its location adjacent to the equally state of the art fabrication facility of its sister concern, the L&T Modular Fabrication Yard LLC, promises complementary synergies that either venture can capitalize on in securing high end contracts.
The Modular Fabrication Yard, which commenced operations 2 years, specializes in the fabrication of offshore marine structures. Its expertise covers the fabrications of jack up and semi submersible rigs, the conversion and integration of Floating Production Storage and Offloading systems and other high end offshore structures.
Mr Sanjay Sharma CEO of L&T Heavy Engineering LLC noted that "With our robust knowledge base and the technical backup of our units in India, we aim to be strongly focused on the Gulf region. Our facility has been certified by ASME for a wide range of technical standards."
Indeed, marking a successful start to its operations, L&T HE has already bagged a contract for the manufacture of 2 critical systems for a major refinery project. Made of special alloy steel with stainless steel overlay, the systems are due for delivery by the end of this year. Significantly, the project will contribute significantly to the transfer of specialist engineering technology and know how to the Sultanate. Key personnel from L&T's premier fabrication facilities at Powai and Hazira in India are already engaged in the training of young Omanis at a state run vocational training institute in the Batinah region. A number of high school graduates are presently being groomed in specialized trades like welding, fitting and so on.
(Sourced from http://www.steelguru.com/news/index/2009/09/29/MTEzNzE4/Larsen_and_Toubro_unit_to_go_on_stream_in_the_Port_of_Sohar.html)
Monday Market Monitor - Middle East (WEEK 39) - Revival expected post Ramadan
Middle East steel prices remained quite with residual activity during Ramadan holidays although nearing end. Revival in the prices of long products is expected in the coming weeks with the culmination of Ramadan as stockiest vie to replenish depleted stocks.
1. Turkish exports - Stagnant
Product Grade Size mm Change
Billets SAE 1008 125 x 125 0
Rebars BSt500 8 to 32 0
Wire Rod SAE 1008 5,5 to 16 0
Change is on September 24th as compared to September 17th 2009
Change is in USD per tonne
3. Turkish imports - HR weakens
Product Grade Size mm Change
Scrap A3 500x500x1500 0
Billets 3Sp/Ps 125x125 0
HRC S235JR 3-12x1000-1500 -10
PLTS S275JR 10-40x2500-3000 0
Change is on September 24th as compared to September 17th 2009
Change is in USD per tonne
To know more details on steel prices subscribe to services of www.steelprices-middleaeast.com by registering or send a mail to admin@steelprices-middleeast.com with contact details. Kindly note that this is a paid service with subscription charges of USD 1500 for 12months.
(Sourced from www.steelprices-middleeast.com)
1. Turkish exports - Stagnant
Product Grade Size mm Change
Billets SAE 1008 125 x 125 0
Rebars BSt500 8 to 32 0
Wire Rod SAE 1008 5,5 to 16 0
Change is on September 24th as compared to September 17th 2009
Change is in USD per tonne
3. Turkish imports - HR weakens
Product Grade Size mm Change
Scrap A3 500x500x1500 0
Billets 3Sp/Ps 125x125 0
HRC S235JR 3-12x1000-1500 -10
PLTS S275JR 10-40x2500-3000 0
Change is on September 24th as compared to September 17th 2009
Change is in USD per tonne
To know more details on steel prices subscribe to services of www.steelprices-middleaeast.com by registering or send a mail to admin@steelprices-middleeast.com with contact details. Kindly note that this is a paid service with subscription charges of USD 1500 for 12months.
(Sourced from www.steelprices-middleeast.com)
Recession reports - Project financing in MENA takes a big hit
Emirates Business 24/7 reported that the global economic distress has smothered project finance in the Middle East and other areas of North Africa and Western Asia after it spearheaded such activity worldwide.
The UN Conference on Trade and Development said in its 2009 report that before the eruption of the financial crisis in mid September 2008, West Asia was the world's biggest market in project finance, largely surpassing such key markets as West Europe and North America. The report said that the local and foreign private sector had played a key role in project financing in Western Asia before the crisis.
Its figures showed that in the January to September of 2008, nearly USD 40 billion in project debt was raised for developments in West Asia and North Africa compared to USD 32 billion in Western Europe and USD 29 billion in North America. In addition, the project finance debt rose in West Asia and North Africa in the whole of 2006 amounted to over 5% of the region's GDP compared to less than 0.25% in Western Europe.
The report said that "However, the deepening global financial and economic crisis has dried up project finance and has also led developers to reappraise projects in light of the new economic outlook. Indeed, falling demand and the worsening outlook for credit markets are affecting project prospects and their financing, especially those that require substantial investments."
It said that "The collapse of the project finance market and the drying up of financing from international banks has put pressure on governments to mobilize local liquidity through increased direct public funding additional local equity or loans from local banks. For example, the Saudi Arabian Government has significantly relaxed its tight monetary policy by cutting both the repurchase rate and reserve requirements for banks to encourage lending."
UNCTAD said that several projects had been either cancelled or put on hold in the MENA region including a USD 10 billion aluminium smelter and 2 refineries with a combined cost of USD 20 billion in Saudi Arabia. 2 other projects including a destination plant and a theme park in the UAE have been delayed.
(Sourced from http://www.steelguru.com/news/index/2009/09/29/MTEzNzE3/Recession_reports_-_Project_financing_in_MENA_takes_a_big_hit.html)
The UN Conference on Trade and Development said in its 2009 report that before the eruption of the financial crisis in mid September 2008, West Asia was the world's biggest market in project finance, largely surpassing such key markets as West Europe and North America. The report said that the local and foreign private sector had played a key role in project financing in Western Asia before the crisis.
Its figures showed that in the January to September of 2008, nearly USD 40 billion in project debt was raised for developments in West Asia and North Africa compared to USD 32 billion in Western Europe and USD 29 billion in North America. In addition, the project finance debt rose in West Asia and North Africa in the whole of 2006 amounted to over 5% of the region's GDP compared to less than 0.25% in Western Europe.
The report said that "However, the deepening global financial and economic crisis has dried up project finance and has also led developers to reappraise projects in light of the new economic outlook. Indeed, falling demand and the worsening outlook for credit markets are affecting project prospects and their financing, especially those that require substantial investments."
It said that "The collapse of the project finance market and the drying up of financing from international banks has put pressure on governments to mobilize local liquidity through increased direct public funding additional local equity or loans from local banks. For example, the Saudi Arabian Government has significantly relaxed its tight monetary policy by cutting both the repurchase rate and reserve requirements for banks to encourage lending."
UNCTAD said that several projects had been either cancelled or put on hold in the MENA region including a USD 10 billion aluminium smelter and 2 refineries with a combined cost of USD 20 billion in Saudi Arabia. 2 other projects including a destination plant and a theme park in the UAE have been delayed.
(Sourced from http://www.steelguru.com/news/index/2009/09/29/MTEzNzE3/Recession_reports_-_Project_financing_in_MENA_takes_a_big_hit.html)
MEASPI - Barometer for steel prices in Middle East Asia
Amidst the currently prevailing volatile and speculative global steel price scenario, SteelGuru.com has started the much needed barometer to track and measure the price movements on daily basis in Middle East.
In order to provide a index for steel prices 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 MLPPI, MFPPI and MEASPI and have started releasing these indices with effect from July 1st 2008, after taking June 30th 2008 as base.
MLPPI is based on daily market prices of three benchmark products rebars, wire rod and sections in 5 countries, whereas MFPPI 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 these countries.
The pricing input is from www.steelprices-middleeast.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 www.steelguru.com
In order to provide a index for steel prices 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 MLPPI, MFPPI and MEASPI and have started releasing these indices with effect from July 1st 2008, after taking June 30th 2008 as base.
MLPPI is based on daily market prices of three benchmark products rebars, wire rod and sections in 5 countries, whereas MFPPI 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 these countries.
The pricing input is from www.steelprices-middleeast.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 www.steelguru.com
Gulf Investment to build Bahraini steel plant by 2009 end
MEED reported that Kuwait based Gulf Investment Corporation will start building its Sulb steel project in Bahrain by the end of 2009.
Bankers said that the project is on track for the USD 750 million debts financing to be in place by November.
A source involved in the project’s development said that the award of a construction contract will be made at about the same time.
A banker funding the deal said that “Things have been moving slowly on the Sulb project over Ramadan but now we plan to have the financing in place so that construction can begin before the end of the year.”
The deal is being financed by Jordan’s Arab Bank, France’s Societe Generale, Saudi Arabia’s Banque Saudi Fransi, Mizuho and Sumitomo Mitsui Banking Corporation both Japanese.
(Sourced from http://www.steelguru.com)
Bankers said that the project is on track for the USD 750 million debts financing to be in place by November.
A source involved in the project’s development said that the award of a construction contract will be made at about the same time.
A banker funding the deal said that “Things have been moving slowly on the Sulb project over Ramadan but now we plan to have the financing in place so that construction can begin before the end of the year.”
The deal is being financed by Jordan’s Arab Bank, France’s Societe Generale, Saudi Arabia’s Banque Saudi Fransi, Mizuho and Sumitomo Mitsui Banking Corporation both Japanese.
(Sourced from http://www.steelguru.com)
Must for steel market players in Middle East Asia
www.steelprices-middleeast.com is a new portal that provides domestic pricing information for benchmark steel products in each category at select location in Middle East on a regular basis 5 days a week.
In addition, FOB levels for commonly exported steel products from major exporting nation Ukraine, Russia, Turkey and China are also available on weekly basis to give international trends.
This would assist persons, including steel makers, traders, users and others, who are connected with industry in some way to asses the steel pricing trends and utilize in their day to day working to take considered decisions.
Benchmark products at select locations cover the entire basket of garden variety of steel products including input material for steel making and processing. The products being monitored include, rebars, wire rods, W section, angles, channels, IPE, Structural, HEA, plates 2x6, plates 3x12, Sheets HRC, HDG and CRS. The locations covered are Abu Dhabi, Amman, Bahrain, Dubai, Jeddah, Kuwait and Qatar. T
All these features are accessible only to registered user who is provided with a login id and password after payment is received. To know more about the service, please logon to the web site and click on “Features”, “Subscription” and if you like the service on “Registration”.
To know more details on steel prices subscribe to services of www.steelprices-middleaeast.com by registering or send a mail to admin@steelprices-middleeast.com with contact details. Kindly note that this is a paid service with subscription charges of USD 1500 for 12months.
In addition, FOB levels for commonly exported steel products from major exporting nation Ukraine, Russia, Turkey and China are also available on weekly basis to give international trends.
This would assist persons, including steel makers, traders, users and others, who are connected with industry in some way to asses the steel pricing trends and utilize in their day to day working to take considered decisions.
Benchmark products at select locations cover the entire basket of garden variety of steel products including input material for steel making and processing. The products being monitored include, rebars, wire rods, W section, angles, channels, IPE, Structural, HEA, plates 2x6, plates 3x12, Sheets HRC, HDG and CRS. The locations covered are Abu Dhabi, Amman, Bahrain, Dubai, Jeddah, Kuwait and Qatar. T
All these features are accessible only to registered user who is provided with a login id and password after payment is received. To know more about the service, please logon to the web site and click on “Features”, “Subscription” and if you like the service on “Registration”.
To know more details on steel prices subscribe to services of www.steelprices-middleaeast.com by registering or send a mail to admin@steelprices-middleeast.com with contact details. Kindly note that this is a paid service with subscription charges of USD 1500 for 12months.
Iron ores shortage reduces PSM output to less than 40pct
GEO TV reported that Pakistan Steel Mill is facing shortage of lump iron ores due to which blast furnaces are being shut down for 20 alternate hours.
PSM sources said that they have 10,000 tonnes fine and 23,000 tonnes lump iron ores in stock, however 75% fine and 25% lump iron ores are used in blast furnaces.
Since proper blending is not available, both blast furnaces have to be shut down for 20 alternate hours reducing the plant output to less than 40%.
(Sourced fromhttp://www.steelguru.com/news/index/2009/09/29/MTEzNzEz/Iron_ores_shortage_reduces_PSM_output_to_less_than_40pct.html)
PSM sources said that they have 10,000 tonnes fine and 23,000 tonnes lump iron ores in stock, however 75% fine and 25% lump iron ores are used in blast furnaces.
Since proper blending is not available, both blast furnaces have to be shut down for 20 alternate hours reducing the plant output to less than 40%.
(Sourced fromhttp://www.steelguru.com/news/index/2009/09/29/MTEzNzEz/Iron_ores_shortage_reduces_PSM_output_to_less_than_40pct.html)
RRVPNL invites bids for Banswara thermal power plant
Banswara Thermal Power Company, a wholly owned subsidiary of Rajasthan Rajya Vidyut Prasaran Nigam Ltd has invited proposals from eligible companies for setting up a 1,320 MW coal based environment friendly thermal power project in Banswara district of Rajasthan.
The project is to be set up on build own operate and maintain basis for supplying 1,080 MW to 1,250 MW of power at the generator switchyard bus-bar in Rajasthan.
The last date for submission of RFQs is November 9th 2009.
(Sourced from www.steelguru.com)
The project is to be set up on build own operate and maintain basis for supplying 1,080 MW to 1,250 MW of power at the generator switchyard bus-bar in Rajasthan.
The last date for submission of RFQs is November 9th 2009.
(Sourced from www.steelguru.com)
Jaigarh power plant not stayed by Delhi HC - JSW Energy
JSW Energy on Friday said the Delhi High Court has not directed it to stop work on a 1,200 MW coal based power plant in Maharashtra and that the project was being executed as per schedule.
The company termed as misleading and baseless certain media reports, which said that the Delhi High Court had stayed implementation of its Jaigarh power plant due to environmental concerns.
JSW Energy said it has sought clarifications to comply with the order and that construction of the plant began only after it obtained the requisite approvals from relevant authorities.
The statement said that "The order does not prohibit the company to continue the implementation of the project nor undertaking tests and operational trials.”
It added that “Implementation of the project was "progressing as per schedule.”
JSW Energy said "The Delhi High Court in its order directed the Expert Appraisal Committee to re examine the approval already granted after considering the reports of Konkan Krishi Vidyapeeth, Dapoli on the basis of data collected and analyzed by them.”
It said that "It also directed to complete this re examination expeditiously and preferably within a period of 3 months.”
(Sourced from http://www.steelguru.com/news/index/2009/09/29/MTEzNzEw/Jaigarh_power_plant_not_stayed_by_Delhi_HC_-_JSW_Energy.html)
The company termed as misleading and baseless certain media reports, which said that the Delhi High Court had stayed implementation of its Jaigarh power plant due to environmental concerns.
JSW Energy said it has sought clarifications to comply with the order and that construction of the plant began only after it obtained the requisite approvals from relevant authorities.
The statement said that "The order does not prohibit the company to continue the implementation of the project nor undertaking tests and operational trials.”
It added that “Implementation of the project was "progressing as per schedule.”
JSW Energy said "The Delhi High Court in its order directed the Expert Appraisal Committee to re examine the approval already granted after considering the reports of Konkan Krishi Vidyapeeth, Dapoli on the basis of data collected and analyzed by them.”
It said that "It also directed to complete this re examination expeditiously and preferably within a period of 3 months.”
(Sourced from http://www.steelguru.com/news/index/2009/09/29/MTEzNzEw/Jaigarh_power_plant_not_stayed_by_Delhi_HC_-_JSW_Energy.html)
WBPDCL generates record 3,128 MW of power
ET reported that West Bengal Power Development Corporation announced it has generated an all time record of 3,128 MW during evening peak hours, more than 90% of its total installed capacity.
A release said that "WBPDCL's capacity is about 3,400 MW. However, the achievement is despite 19 out of its 21 generating units being operational on Thursday. The company's 2x300 MW Sagardighi thermal power project, which has been reeling under various problems, generated a highest 642 MW around 107% of its installed capacity.”
The company's generation capacity had touched some 3,400 MW several months back, but it could never attain more than 80% of generating capacity due to various problems. At times, availability of coal has forced WBPDCL to generate at half its capacity, while during the monsoons it has been wet coal that added to the woes.
The newly installed capacities at Sagardighi also faced various teething problems restricting generation for several months. Both the plants at Sagardighi thermal power station, which were, shut for maintenance, is now up and running.
The release said that "Top management at WBPDCL took upon itself a challenge to cross the 3000 mw generation mark, during the Pujas. It has actually been increasing generation in steps from Monday when it generated 2942 mw which gradually touched 3128 MW. This has been achieved mainly through planning the maintenance schedules of all generating units so that of WBPDCL's units are running during the Puja time. All power generating units need to be shut at least once a year for maintenance. We managed to run 19 units out of our 21 units during this time. Additionally, we have been in constant dialogue with Coal India subsidiaries to make sure availability is not an issue during these period. The Railways have also supported us. We have also taken the unions into our confidence, so that they work round the clock to make sure all running units are generating smoothly. We hope to maintain this generation level, at least, during the pujas.”
(Sourced from http://www.steelguru.com/news/index/2009/09/29/MTEzNzA5/WBPDCL_generates_record_3%252C128_MW_of_power.html
A release said that "WBPDCL's capacity is about 3,400 MW. However, the achievement is despite 19 out of its 21 generating units being operational on Thursday. The company's 2x300 MW Sagardighi thermal power project, which has been reeling under various problems, generated a highest 642 MW around 107% of its installed capacity.”
The company's generation capacity had touched some 3,400 MW several months back, but it could never attain more than 80% of generating capacity due to various problems. At times, availability of coal has forced WBPDCL to generate at half its capacity, while during the monsoons it has been wet coal that added to the woes.
The newly installed capacities at Sagardighi also faced various teething problems restricting generation for several months. Both the plants at Sagardighi thermal power station, which were, shut for maintenance, is now up and running.
The release said that "Top management at WBPDCL took upon itself a challenge to cross the 3000 mw generation mark, during the Pujas. It has actually been increasing generation in steps from Monday when it generated 2942 mw which gradually touched 3128 MW. This has been achieved mainly through planning the maintenance schedules of all generating units so that of WBPDCL's units are running during the Puja time. All power generating units need to be shut at least once a year for maintenance. We managed to run 19 units out of our 21 units during this time. Additionally, we have been in constant dialogue with Coal India subsidiaries to make sure availability is not an issue during these period. The Railways have also supported us. We have also taken the unions into our confidence, so that they work round the clock to make sure all running units are generating smoothly. We hope to maintain this generation level, at least, during the pujas.”
(Sourced from http://www.steelguru.com/news/index/2009/09/29/MTEzNzA5/WBPDCL_generates_record_3%252C128_MW_of_power.html
Jabalpur auto parts makers facing tough times
BS reported that Jabalpur based small scale manufacturers and suppliers to public sector undertaking Vehicle Factory Jabalpur are facing extinction. There are 35 to 40 vehicle parts manufacturers in Jabalpur. These are now facing biggies like TATA and Ashok Leyland vendors.
The manufacturers said the state government had put the parts which they prominently manufacture for VFJ, under 5% value added tax category as a result of which they could not compete with outsiders.
Mr Arun Jain secretary of Mahakoshal Chambers of Commerce and Industry said that “Intra state sales attract 2% central sales tax while inter state sales of vehicle parts attract 5% VAT. We cannot compete even with manufacturers of the neighboring states.”
Mr Jain added that “The combined turnover of all manufacturer is hardly 20 crore to 30 crore. The VFJ manufacture all kinds of four wheelers for defense and places orders worth crore of rupees but our share have now reduced to 0.1% or less owing to tax disparity.”
Mr Ravi Gupta president of Jabalpur Laghu Udyog Sangh said that “The high rate of VAT has pushed us in the red. We have become uncompetitive against outside bidders in VFJ and other ordnance factories. The outside suppliers are issued Form C and thus, it attracts only 2% central sales tax. High rate of VAT on raw material, non availability of raw material and additional burden of entry tax has put us in loss making zone.”
He added that “The manufacturers are also under tight squeeze owing to shrinking orders as TATA and Ashok Leyland vendors have signed a deal with the VFJ to supply parts. The VFJ has discontinued trucks like Shaktiman, Nisan and Jonga jeep and has started making new models like Stallion and LPTA as a result the local manufacturers have few orders. Also they ask the suppliers to get their parts approved by TAAT and Ashok Leyland why will they approve local manufacturers part?.”
State Finance Minister Raghavji said that “The state government cannot reduce VAT from 5% to 2% as of now but in the future will discuss with VFJ officials so that local manufacturers may get orders.”
(Sourced from http://www.steelguru.com/news/index/2009/09/29/MTEzNzA4/Jabalpur_auto_parts_makers_facing_tough_times.html)
The manufacturers said the state government had put the parts which they prominently manufacture for VFJ, under 5% value added tax category as a result of which they could not compete with outsiders.
Mr Arun Jain secretary of Mahakoshal Chambers of Commerce and Industry said that “Intra state sales attract 2% central sales tax while inter state sales of vehicle parts attract 5% VAT. We cannot compete even with manufacturers of the neighboring states.”
Mr Jain added that “The combined turnover of all manufacturer is hardly 20 crore to 30 crore. The VFJ manufacture all kinds of four wheelers for defense and places orders worth crore of rupees but our share have now reduced to 0.1% or less owing to tax disparity.”
Mr Ravi Gupta president of Jabalpur Laghu Udyog Sangh said that “The high rate of VAT has pushed us in the red. We have become uncompetitive against outside bidders in VFJ and other ordnance factories. The outside suppliers are issued Form C and thus, it attracts only 2% central sales tax. High rate of VAT on raw material, non availability of raw material and additional burden of entry tax has put us in loss making zone.”
He added that “The manufacturers are also under tight squeeze owing to shrinking orders as TATA and Ashok Leyland vendors have signed a deal with the VFJ to supply parts. The VFJ has discontinued trucks like Shaktiman, Nisan and Jonga jeep and has started making new models like Stallion and LPTA as a result the local manufacturers have few orders. Also they ask the suppliers to get their parts approved by TAAT and Ashok Leyland why will they approve local manufacturers part?.”
State Finance Minister Raghavji said that “The state government cannot reduce VAT from 5% to 2% as of now but in the future will discuss with VFJ officials so that local manufacturers may get orders.”
(Sourced from http://www.steelguru.com/news/index/2009/09/29/MTEzNzA4/Jabalpur_auto_parts_makers_facing_tough_times.html)
Italian company to bid for Hyderabad metro rail project
BL reported that Italian engineering company Metropolitana Milanese SPA an under the purview of the Milan municipality has decided to bid for the Hyderabad metro rail project.
Mr Lanfranco Senn chairman of Metropolitana Milanese told Business Line that the company, along with other consortium partners, would throw its hat into the ring. According to him, it brings to the table technical know how of designing, supervising and construction of metro rail systems in a difficult geological environment. When the bids open, it would also be open to the idea of equity infusion in the project.
Mr Senn said the company, along with Systra Group of France which already has been working on the Mumbai metro, would look at options to design other metro rail systems. It is also open to the idea of working with contractors such as Mumbai Metro One, Delhi Metro and Ircon.
Mr Senn said that “From our earlier experiences of designing the Milan line, where the water table is high and Naples with volcanic soil, we have gained valuable knowledge which we want to share with Indian companies. For some sites in Milan, the ground had to freeze before we began underground construction. Such advanced techniques would be handy for the Mumbai metro.”
Metropolitana Milanese designed the 80 kilometer long Milan metro systems from scratch. By 2014, another 70 km would be added to the network. The company has also designed the Naples metro network and three other networks in Europe.
The Hyderabad metro project was derailed when the Andhra Pradesh Government cancelled the contract with a Maytas Infra-led consortium, following the Satyam Computers scam. The State Government has now sought fresh bids for the public-private-partnership project.
(Sourced from http://www.steelguru.com/news/index/2009/09/29/MTEzNzA3/Italian_company_to_bid_for_Hyderabad_metro_rail_project.html)
Mr Lanfranco Senn chairman of Metropolitana Milanese told Business Line that the company, along with other consortium partners, would throw its hat into the ring. According to him, it brings to the table technical know how of designing, supervising and construction of metro rail systems in a difficult geological environment. When the bids open, it would also be open to the idea of equity infusion in the project.
Mr Senn said the company, along with Systra Group of France which already has been working on the Mumbai metro, would look at options to design other metro rail systems. It is also open to the idea of working with contractors such as Mumbai Metro One, Delhi Metro and Ircon.
Mr Senn said that “From our earlier experiences of designing the Milan line, where the water table is high and Naples with volcanic soil, we have gained valuable knowledge which we want to share with Indian companies. For some sites in Milan, the ground had to freeze before we began underground construction. Such advanced techniques would be handy for the Mumbai metro.”
Metropolitana Milanese designed the 80 kilometer long Milan metro systems from scratch. By 2014, another 70 km would be added to the network. The company has also designed the Naples metro network and three other networks in Europe.
The Hyderabad metro project was derailed when the Andhra Pradesh Government cancelled the contract with a Maytas Infra-led consortium, following the Satyam Computers scam. The State Government has now sought fresh bids for the public-private-partnership project.
(Sourced from http://www.steelguru.com/news/index/2009/09/29/MTEzNzA3/Italian_company_to_bid_for_Hyderabad_metro_rail_project.html)
NTPC Lalitpur project may be shifted to Chitrakoot
PTI reported that the government is planning to shift the proposed INR 18,000 crore Lalitpur power project to Chitrakoot in the parched Bundelkhand area.
Mr HS Brahma power secretary said that "The Uttar Pradesh government has told us that they would not give us land in Lalitpur because they are giving that to somebody else. So in place of Lalitpur, they are offering us a new place in Burgad village in Chitrakoot district.”
Mr Brahma said that "Land for the project in Chitrakoot has been identified but there would be problem of water availability. We will be very happy if they provide water to us. The state government has assured us water supply. We want to set up 4,000 MW thermal power plant there. But it would be possible only when water would be available."
Asked when ministry is expecting to get Cabinet approval for the project, he said that "NTPC can do it at its own and does not require Cabinet approval for this project."
Earlier, the government planned setting up a 4,000 MW power plant in Lalitpur to be set up by NTPC. The Planning Commission has also firmed up a proposal for project.
(Sourced from www.steelguru.com)
Mr HS Brahma power secretary said that "The Uttar Pradesh government has told us that they would not give us land in Lalitpur because they are giving that to somebody else. So in place of Lalitpur, they are offering us a new place in Burgad village in Chitrakoot district.”
Mr Brahma said that "Land for the project in Chitrakoot has been identified but there would be problem of water availability. We will be very happy if they provide water to us. The state government has assured us water supply. We want to set up 4,000 MW thermal power plant there. But it would be possible only when water would be available."
Asked when ministry is expecting to get Cabinet approval for the project, he said that "NTPC can do it at its own and does not require Cabinet approval for this project."
Earlier, the government planned setting up a 4,000 MW power plant in Lalitpur to be set up by NTPC. The Planning Commission has also firmed up a proposal for project.
(Sourced from www.steelguru.com)
Leitner Shriram wind turbine facility begins operations
Leitner Shriram Manufacturing Ltd a joint venture between Shriram EPC and Italy based Leitner Technologies inaugurated its INR 200 crore facility at Gummidippondi near Chennai.
Spread across 20 acres, the facility would have a manufacturing capacity of 150 wind turbines per annum in Phase I. The plant was inaugurated by Union minister of state for power Mr Bharatsinh Solanki.
Mr T Shivaraman MD & CEO of Shriram EPC a group company of Chennai based INR 30,000 crore Shriram Group said that the facility would cater to both domestic and export markets.
Mr P Ashok MD of Leitner Shriram said that construction work on Phase II would start after six months to double the capacity. Apart from producing wind turbines in India, the company would also use India as a sourcing hub for windmill components. While Leitner will bring technology know how, Shriram would provide engineering expertise.
Mr Michael Seeber president of Leitner Technologies said apart from catering to the US and European markets, the company would cater to Egypt, Morocco and Africa. He added that one turbine could be translated into four million KW hours a year and it could cater to 1,000 families. The unit employs 300 people and is expected to provide indirect employment for about 1,000 people.
According to estimates, India has the potential to generate 45,000 MW of wind power. Since, these wind farms are set up in rural areas, it generates opportunities for employment in the form of electrical, civil and mechanical engineers and technicians. The total capacity installed in India stood at 10,134 MW as of March 31st 2009.
(Sourced from http://www.steelguru.com/news/index/2009/09/29/MTEzNzA1/Leitner_Shriram_wind_turbine_facility_begins_operations.html)
Spread across 20 acres, the facility would have a manufacturing capacity of 150 wind turbines per annum in Phase I. The plant was inaugurated by Union minister of state for power Mr Bharatsinh Solanki.
Mr T Shivaraman MD & CEO of Shriram EPC a group company of Chennai based INR 30,000 crore Shriram Group said that the facility would cater to both domestic and export markets.
Mr P Ashok MD of Leitner Shriram said that construction work on Phase II would start after six months to double the capacity. Apart from producing wind turbines in India, the company would also use India as a sourcing hub for windmill components. While Leitner will bring technology know how, Shriram would provide engineering expertise.
Mr Michael Seeber president of Leitner Technologies said apart from catering to the US and European markets, the company would cater to Egypt, Morocco and Africa. He added that one turbine could be translated into four million KW hours a year and it could cater to 1,000 families. The unit employs 300 people and is expected to provide indirect employment for about 1,000 people.
According to estimates, India has the potential to generate 45,000 MW of wind power. Since, these wind farms are set up in rural areas, it generates opportunities for employment in the form of electrical, civil and mechanical engineers and technicians. The total capacity installed in India stood at 10,134 MW as of March 31st 2009.
(Sourced from http://www.steelguru.com/news/index/2009/09/29/MTEzNzA1/Leitner_Shriram_wind_turbine_facility_begins_operations.html)
INDSPI - SENSEX for domestic steel prices in India
Amidst the currently prevailing volatile and speculative steel price scenario in India, SteelGuru.com has started the much needed barometer to track and measure the price movements on daily basis.
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
You can also 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.
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http://steelprices-india.com/spi_services/spi.html
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Thursday, September 24, 2009
UAE may allow 100pct foreign company ownership
Construction Week cited Mr Sultan bin Saeed al Mansouri economy minister of UAE as saying that the country could soon allow 100% foreign owned companies.
Draft laws, which are expected to be submitted to the cabinet within 2 months, propose changes to legislation pertaining to the foreign ownership of companies.
Companies within free zones can already be owned 100% by non residents; however, outside of free zones, ownership is currently limited to 49%.
Mr Al Mansouri said that “Industry is one of the sectors we are trying to attract to the UAE and have it as a major contributor to our GDP. To do that, we need to create the right environment for these industries worldwide.”
According to experts, it is a move that would be widely applauded by the construction industry.
Mr Sinan Ozkocer GM of Turkish based Sembol Construction said that “We still consider Dubai to be a hub for other major Middle East countries and in order to overcome the economic crisis foreign investors should be encouraged to be present in the region. The vision the UAE has presented to the world still offers a lot of opportunities to expand in the area.”
Mr Daniel Taylor MD of London’s Metro Design Consultants agreed that “Opening up the UAE market to full foreign ownership of businesses means it will be well placed for emerging markets. Its location should attract both Western and Eastern companies.”
He said that “As an interior architecture practice operating in Europe, Metro Design Consultants sees the UAE as an exciting opportunity with commercial businesses demanding high standards for their workspaces. People will look for excellence in design, to attract the best personnel.”
Mr Al Mansouri said that “A lot of industries worldwide are very interested to move here to the UAE, providing there are certain terms and conditions they would like to see in the industrial law.”
(Sourced from www.steelgruu.com)
Draft laws, which are expected to be submitted to the cabinet within 2 months, propose changes to legislation pertaining to the foreign ownership of companies.
Companies within free zones can already be owned 100% by non residents; however, outside of free zones, ownership is currently limited to 49%.
Mr Al Mansouri said that “Industry is one of the sectors we are trying to attract to the UAE and have it as a major contributor to our GDP. To do that, we need to create the right environment for these industries worldwide.”
According to experts, it is a move that would be widely applauded by the construction industry.
Mr Sinan Ozkocer GM of Turkish based Sembol Construction said that “We still consider Dubai to be a hub for other major Middle East countries and in order to overcome the economic crisis foreign investors should be encouraged to be present in the region. The vision the UAE has presented to the world still offers a lot of opportunities to expand in the area.”
Mr Daniel Taylor MD of London’s Metro Design Consultants agreed that “Opening up the UAE market to full foreign ownership of businesses means it will be well placed for emerging markets. Its location should attract both Western and Eastern companies.”
He said that “As an interior architecture practice operating in Europe, Metro Design Consultants sees the UAE as an exciting opportunity with commercial businesses demanding high standards for their workspaces. People will look for excellence in design, to attract the best personnel.”
Mr Al Mansouri said that “A lot of industries worldwide are very interested to move here to the UAE, providing there are certain terms and conditions they would like to see in the industrial law.”
(Sourced from www.steelgruu.com)
Vallourec to buy DPAL FZCO from Soconord
Dow Jones reported that French seamless tube maker Vallourec SA has agreed to buy Dubai based DPAL FZCO, a supplier of drill pipes, from Soconord Group, improving Vallourec's position in the drilling products market in the Middle East. Main facts of the deals are as follows:
1. No financial details about the transaction or DPAL FZCO were disclosed
2. DPAL FZCO has an annual production capacity of 25,000 joints
3. The agreement is subject to regulatory approval and the closing of the deal is expected to take place shortly
Mr Philippe Crouzet CEO of Vallourec said that "The acquisition of DPAL FZCO is a perfect example of our strategy of targeted acquisitions to strengthen our position in growing markets, especially in high value added segments of the oil industry such as drilling products."
(Sourced from www.steelguru.com)
1. No financial details about the transaction or DPAL FZCO were disclosed
2. DPAL FZCO has an annual production capacity of 25,000 joints
3. The agreement is subject to regulatory approval and the closing of the deal is expected to take place shortly
Mr Philippe Crouzet CEO of Vallourec said that "The acquisition of DPAL FZCO is a perfect example of our strategy of targeted acquisitions to strengthen our position in growing markets, especially in high value added segments of the oil industry such as drilling products."
(Sourced from www.steelguru.com)
Steel light channel prices update on Sep 24
CHNL
GR A
75/100
Location Change
Mumbai 0
Chennai 0
Kolkata 0
Delhi 0
Mandi -104
Raipur -208
Kanpur 0
Rudrapur 0
Ahmedabad -225
Indore -200
Bangalore 0
Change is on September 24th as compared to September 23rd 2009
Change is in INR per tonne
To know exact prevailing steel prices in India in 29 locations on daily basis, subscribe to services of www.steelprices-india.com by registering or sending a mail to admin@steelprices-india.com Please note that this is a paid service.
(Sourced from www.steelprices-india.com
GR A
75/100
Location Change
Mumbai 0
Chennai 0
Kolkata 0
Delhi 0
Mandi -104
Raipur -208
Kanpur 0
Rudrapur 0
Ahmedabad -225
Indore -200
Bangalore 0
Change is on September 24th as compared to September 23rd 2009
Change is in INR per tonne
To know exact prevailing steel prices in India in 29 locations on daily basis, subscribe to services of www.steelprices-india.com by registering or sending a mail to admin@steelprices-india.com Please note that this is a paid service.
(Sourced from www.steelprices-india.com
CR steel price movement in India on Sep 24
CR
DSK
0.63
Location Change
Mumbai -462
Chennai 0
Kolkata 0
Delhi 0
Pune -462
Kanpur -267
Rudrapur -267
Ahmedabad 0
Bangalore 0
Change is on September 24th as compared to September 23rd 2009
Change is in INR per tonne
To know exact prevailing steel prices in India in 29 locations on daily basis, subscribe to services of www.steelprices-india.com by registering or sending a mail to admin@steelprices-india.com Please note that this is a paid service.
(Sourced from www.steelprices-india.com)
DSK
0.63
Location Change
Mumbai -462
Chennai 0
Kolkata 0
Delhi 0
Pune -462
Kanpur -267
Rudrapur -267
Ahmedabad 0
Bangalore 0
Change is on September 24th as compared to September 23rd 2009
Change is in INR per tonne
To know exact prevailing steel prices in India in 29 locations on daily basis, subscribe to services of www.steelprices-india.com by registering or sending a mail to admin@steelprices-india.com Please note that this is a paid service.
(Sourced from www.steelprices-india.com)
Patra (Narrow HR steel strips) prices remain flat on Sep 24
Patra
Location Change
Delhi 0
Mandi 0
Ludhiana 0
Change is on September 24th as compared to September 23rd 2009
Change is in INR per tonne
To know exact prevailing steel prices in India in 29 locations on daily basis, subscribe to services of www.steelprices-india.com by registering or sending a mail to admin@steelprices-india.com Please note that this is a paid service.
(Sourced from www.steelprices-india.com)
Location Change
Delhi 0
Mandi 0
Ludhiana 0
Change is on September 24th as compared to September 23rd 2009
Change is in INR per tonne
To know exact prevailing steel prices in India in 29 locations on daily basis, subscribe to services of www.steelprices-india.com by registering or sending a mail to admin@steelprices-india.com Please note that this is a paid service.
(Sourced from www.steelprices-india.com)
HRC price dips by INR 462 a tonne at Mumbai
HRC
Tube
2.5x1250
Location Change
Mumbai -462
Kolkata 0
Delhi 0
Ludhiana 0
Ahmedabad 0
Bangalore 0
Change is on September 24th as compared to September 23rd 2009
Change is in INR per tonne
To know exact prevailing steel prices in India in 29 locations on daily basis, subscribe to services of www.steelprices-india.com by registering or sending a mail to admin@steelprices-india.com Please note that this is a paid service.
(Sourced from www.steelprices-india.com)
Tube
2.5x1250
Location Change
Mumbai -462
Kolkata 0
Delhi 0
Ludhiana 0
Ahmedabad 0
Bangalore 0
Change is on September 24th as compared to September 23rd 2009
Change is in INR per tonne
To know exact prevailing steel prices in India in 29 locations on daily basis, subscribe to services of www.steelprices-india.com by registering or sending a mail to admin@steelprices-india.com Please note that this is a paid service.
(Sourced from www.steelprices-india.com)
Sponge iron price movements on Sep 24
Sponge iron
Location Change
Kolkata 0
Raipur -100
Raigarh -300
Rourkela 0
Change is on September 24th as compared to September 23rd 2009
Change is in INR per tonne
To know exact prevailing steel prices in India in 29 locations on daily basis, subscribe to services of www.steelprices-india.com by registering or sending a mail to admin@steelprices-india.com Please note that this is a paid service.
(Sourced from www.steelprices-india.com)
Location Change
Kolkata 0
Raipur -100
Raigarh -300
Rourkela 0
Change is on September 24th as compared to September 23rd 2009
Change is in INR per tonne
To know exact prevailing steel prices in India in 29 locations on daily basis, subscribe to services of www.steelprices-india.com by registering or sending a mail to admin@steelprices-india.com Please note that this is a paid service.
(Sourced from www.steelprices-india.com)
Indian GC (HDG) price scenario on Sep 24
GC
100Gms
0.40
Location Change
Mumbai -222
Chennai 0
Kolkata 0
Delhi 0
Ludhiana 0
Kanpur -178
Rudrapur -178
Bangalore 0
Change is on September 24th as compared to September 23rd 2009
Change is in INR per tonne
To know exact prevailing steel prices in India in 29 locations on daily basis, subscribe to services of www.steelprices-india.com by registering or sending a mail to admin@steelprices-india.com Please note that this is a paid service.
(Sourced from www.steelprices-india.com)
100Gms
0.40
Location Change
Mumbai -222
Chennai 0
Kolkata 0
Delhi 0
Ludhiana 0
Kanpur -178
Rudrapur -178
Bangalore 0
Change is on September 24th as compared to September 23rd 2009
Change is in INR per tonne
To know exact prevailing steel prices in India in 29 locations on daily basis, subscribe to services of www.steelprices-india.com by registering or sending a mail to admin@steelprices-india.com Please note that this is a paid service.
(Sourced from www.steelprices-india.com)
Sujana Towers to raise USD 24 million
Sujana Towers Ltd part of the diversified Sujana Group has obtained the nod of its board to raise up to USD 24 million through Global Depository Receipts and Foreign Currency Convertible Bonds.
The Hyderabad based company has informed the BSE that the board which met on Tuesday approved the issue of GDRs to an extent of USD 12 million and FCCBs to an equal amount.
(Sourced from www.steelguru.com)
The Hyderabad based company has informed the BSE that the board which met on Tuesday approved the issue of GDRs to an extent of USD 12 million and FCCBs to an equal amount.
(Sourced from www.steelguru.com)
Steel angle prices movement on Sep 24
ANGL
GR A
65X6
Location Change
Mumbai 0
Chennai 0
Kolkata 0
Delhi 0
Mandi -104
Raipur -208
Kanpur 0
Rudrapur 0
Ahmedabad -113
Indore -200
Bangalore 0
Change is on September 24th as compared to September 23rd 2009
Change is in INR per tonne
To know exact prevailing steel prices in India in 29 locations on daily basis, subscribe to services of www.steelprices-india.com by registering or sending a mail to admin@steelprices-india.com Please note that this is a paid service.
(Sourced from www.steelprices-india.com)
GR A
65X6
Location Change
Mumbai 0
Chennai 0
Kolkata 0
Delhi 0
Mandi -104
Raipur -208
Kanpur 0
Rudrapur 0
Ahmedabad -113
Indore -200
Bangalore 0
Change is on September 24th as compared to September 23rd 2009
Change is in INR per tonne
To know exact prevailing steel prices in India in 29 locations on daily basis, subscribe to services of www.steelprices-india.com by registering or sending a mail to admin@steelprices-india.com Please note that this is a paid service.
(Sourced from www.steelprices-india.com)
REC board clears FPO proposal
The State run Rural Electrification Corporation has said that it has received an approval from its board to take measures for the completion of its follow on public offer process.
The board has given its approval for the appointment of intermediaries as may be required for expeditious completion of FPO process pending receipt of approval of the Government of India.
REC in a filing to Bombay Stock Exchange said that the board took a decision in this regard on September 19th 2009. The company is looking to raise around INR 2,900 crore through the FPO which is likely to come up by the end of the current fiscal.
The company wants the capital raised to disburse loans to power projects.
(Sourced from Business Line)
The board has given its approval for the appointment of intermediaries as may be required for expeditious completion of FPO process pending receipt of approval of the Government of India.
REC in a filing to Bombay Stock Exchange said that the board took a decision in this regard on September 19th 2009. The company is looking to raise around INR 2,900 crore through the FPO which is likely to come up by the end of the current fiscal.
The company wants the capital raised to disburse loans to power projects.
(Sourced from Business Line)
Steel joist (Beam) prices scenario in major places
JSTI
GR A
250X125
Location Change
Mumbai 0
Chennai 0
Kolkata 0
Delhi 0
Mandi -104
Raipur -208
Kanpur 0
Rudrapur -300
Ahmedabad 0
Indore -200
Bangalore 0
Change is on September 24th as compared to September 23rd 2009
Change is in INR per tonne
To know exact prevailing steel prices in India in 29 locations on daily basis, subscribe to services of www.steelprices-india.com by registering or sending a mail to admin@steelprices-india.com Please note that this is a paid service.
(Sourced from www.steelprices-india.com
GR A
250X125
Location Change
Mumbai 0
Chennai 0
Kolkata 0
Delhi 0
Mandi -104
Raipur -208
Kanpur 0
Rudrapur -300
Ahmedabad 0
Indore -200
Bangalore 0
Change is on September 24th as compared to September 23rd 2009
Change is in INR per tonne
To know exact prevailing steel prices in India in 29 locations on daily basis, subscribe to services of www.steelprices-india.com by registering or sending a mail to admin@steelprices-india.com Please note that this is a paid service.
(Sourced from www.steelprices-india.com
Slow down signs - India exports in August down by 20 pct
It is reported that India's exports fell an annual 19.7% in August. The report quoted Mr Anand Sharma trade minister of India as saying that the global slump hit demand for Indian goods.
Indian exports, which have been falling in annual terms since October 2008, were USD 16.01 billion in August 2008.
(Sourced from http://www.steelguru.com/news/index/2009/09/25/MTEzMzQ1/Slow_down_signs_-_India_exports_in_August_down_by_20_pct.html)
Indian exports, which have been falling in annual terms since October 2008, were USD 16.01 billion in August 2008.
(Sourced from http://www.steelguru.com/news/index/2009/09/25/MTEzMzQ1/Slow_down_signs_-_India_exports_in_August_down_by_20_pct.html)
Indian steel wire rod prices scenario on Sep 24
WRC
SWR14
5.5/6
Location Change
Chennai 0
Kolkata 0
Delhi 0
Raipur -178
Kanpur 0
Rudrapur -444
Change is on September 24th as compared to September 23rd 2009
Change is in INR per tonne
To know exact prevailing steel prices in India in 29 locations on daily basis, subscribe to services of www.steelprices-india.com by registering or sending a mail to admin@steelprices-india.com Please note that this is a paid service.
(Sourced from www.steelprices-india.com)
SWR14
5.5/6
Location Change
Chennai 0
Kolkata 0
Delhi 0
Raipur -178
Kanpur 0
Rudrapur -444
Change is on September 24th as compared to September 23rd 2009
Change is in INR per tonne
To know exact prevailing steel prices in India in 29 locations on daily basis, subscribe to services of www.steelprices-india.com by registering or sending a mail to admin@steelprices-india.com Please note that this is a paid service.
(Sourced from www.steelprices-india.com)
Dr Mallya conferred ASSOCHAM-SILF award
The Associated Chambers of Commerce and Industry of India and Society of Indian Law Firms have jointly conferred their Outstanding Business Leader Award 2009 upon Dr Vijay Mallya chairman of UB Group as also given away Outstanding Law Leader Award 2009 to well known advocate Mr Ram Jethmalani.
These awards were given away at a glittering ceremony jointly organized by ASSOCHAM and SILF which is presided over by Mr Kapil Sibal chairman of Union Minister for Human Resource Development.
http://www.steelguru.com/news/index/2009/09/25/MTEzMzQz/Dr_Mallya_conferred_ASSOCHAM-SILF_award.html
These awards were given away at a glittering ceremony jointly organized by ASSOCHAM and SILF which is presided over by Mr Kapil Sibal chairman of Union Minister for Human Resource Development.
http://www.steelguru.com/news/index/2009/09/25/MTEzMzQz/Dr_Mallya_conferred_ASSOCHAM-SILF_award.html
Pipavav Port plan for LNG terminal delayed
Gujarat Pipavav Port a part of the world’s largest container traffic operator APM Terminals is facing a delay in its plan to have a LNG terminal. The company had signed an agreement earlier this year with Mumbai based Swan Energy to set up the terminal in its Gujarat based port.
Pipavav has 400 hectares of land and a considerable part has been reserved for the LNG project. Swan Energy, which changed its name from Swan Mills is aiming to set up various infrastructure projects in Gujarat including power projects.
Mr Prakash Tulsiani MD of Gujarat Pipavav Port said that “The plan is delayed by about a year. The delay is primarily on account of the economic downturn. The terminal is now expected to be ready by 2013, instead of earlier deadline of 2012.”
According to an analyst, India has a demand of about 170 mmscmd of gas, double the supply available. LNG is primarily used for transporting natural gas. Once the terminal is set up, the company will do the re-gasification and sell it to fertilizer and petrochemical companies in Gujarat through an extended pipeline.
Investment for the terminal is coming from Swan Energy, while Pipavav Port would be earning from various charges, including marine and handling fees. The company has not disclosed the investment required for the terminal. Pipavav has had INR 13,000 crore investments so far. It does not disclose its revenue figures.
India currently has two LNG terminals of about 8 mbtu capacity. These are operational at Dahej and Hazira, both in Gujarat. Dahej has been set up by Petronet LNG and the Hazira terminal by Shell. A third LNG terminal is expected to be commissioned this year at Dabhol on Maharashtra’s west coast. One more terminal is expected at Kochi in Kerala. These facilities will benefit the fertilizer and petrochemical companies, which are primarily on the west coast of the country.
(Sourced from www.steelguru.com)
Pipavav has 400 hectares of land and a considerable part has been reserved for the LNG project. Swan Energy, which changed its name from Swan Mills is aiming to set up various infrastructure projects in Gujarat including power projects.
Mr Prakash Tulsiani MD of Gujarat Pipavav Port said that “The plan is delayed by about a year. The delay is primarily on account of the economic downturn. The terminal is now expected to be ready by 2013, instead of earlier deadline of 2012.”
According to an analyst, India has a demand of about 170 mmscmd of gas, double the supply available. LNG is primarily used for transporting natural gas. Once the terminal is set up, the company will do the re-gasification and sell it to fertilizer and petrochemical companies in Gujarat through an extended pipeline.
Investment for the terminal is coming from Swan Energy, while Pipavav Port would be earning from various charges, including marine and handling fees. The company has not disclosed the investment required for the terminal. Pipavav has had INR 13,000 crore investments so far. It does not disclose its revenue figures.
India currently has two LNG terminals of about 8 mbtu capacity. These are operational at Dahej and Hazira, both in Gujarat. Dahej has been set up by Petronet LNG and the Hazira terminal by Shell. A third LNG terminal is expected to be commissioned this year at Dabhol on Maharashtra’s west coast. One more terminal is expected at Kochi in Kerala. These facilities will benefit the fertilizer and petrochemical companies, which are primarily on the west coast of the country.
(Sourced from www.steelguru.com)
JSW Energy wants to shift plant to Dahej
JSW Energy Ltd, part of the Sajjan Jindal-promoted Jindal South West Group has sought alternative land from the Gujarat government to shift its power project from Junagadh in the west to the port town of Dahej in south Gujarat.
JSW Energy had an agreement with the government to develop an imported coal based power plant with a capacity of 1,400 MW at Junagadh, involving an investment of INR 7,000 crore.
Mr Krishna Deshika joint group CFO of JSW Energy said that “The company is now proposing to set up a 2,400 MW power project at Dahej with a 1,600 MW power plant in the first phase and 800 MW in the second phase. The company had plans to put up this capacity at Junagadh earlier.”
The report said that the company has requested the state government to allocate land for the project in Dahej. Around 1,500 acres is required. It has also applied to ministry of coal for a long-term supply arrangement. The proposed project is likely to need investment of around INR 10,000 crore as the norm is INR 4 crore to INR 4.5 crore for generating every MW of power.
On the site change, Mr Deshika said that Junagadh was identified for its proximity to the proposed Simar port, since the power plant was imported coal-based. The port was to be developed by the Shapoorji Pallonji Group. “However, the survey by the developer found development of a port at Simar was technically not feasible. Therefore, JSW Energy requested the government to allot alternative land.”
Currently, JSW Energy has an installed capacity of 995 MW which it plans to increase to 3,140 MW by 2011 and 11,390 MW by September 2015. “
Mr V K Dhanuka senior vice president energy projects of JSW Energy said that “Power plants aggregating 3,650 MW are under operation or at an advanced stage. These projects are coming up in Rajasthan, Maharashtra and Himachal Pradesh.”
In addition, proposals for four other power plants of 7,740 MW are under development. These are for a 3,200 MW one at Ratnagiri in Maharashtra, 1,600 Mw in West Bengal, 1,620 MW in Jharkhand and 1,320 MW in Chhattisgarh.
For projects in the construction and implementation stage, the company requires capital outlay of INR 14,048 crore of which INR 9,979 crore will be raised through debt. For the remaining INR 4,069 crore, the company intends to mop INR 2,134 crore through a public issue.
(Sourced from http://www.steelguru.com/news/index/2009/09/25/MTEzMzQx/JSW_Energy_wants_to_shift_plant_to_Dahej.html)
JSW Energy had an agreement with the government to develop an imported coal based power plant with a capacity of 1,400 MW at Junagadh, involving an investment of INR 7,000 crore.
Mr Krishna Deshika joint group CFO of JSW Energy said that “The company is now proposing to set up a 2,400 MW power project at Dahej with a 1,600 MW power plant in the first phase and 800 MW in the second phase. The company had plans to put up this capacity at Junagadh earlier.”
The report said that the company has requested the state government to allocate land for the project in Dahej. Around 1,500 acres is required. It has also applied to ministry of coal for a long-term supply arrangement. The proposed project is likely to need investment of around INR 10,000 crore as the norm is INR 4 crore to INR 4.5 crore for generating every MW of power.
On the site change, Mr Deshika said that Junagadh was identified for its proximity to the proposed Simar port, since the power plant was imported coal-based. The port was to be developed by the Shapoorji Pallonji Group. “However, the survey by the developer found development of a port at Simar was technically not feasible. Therefore, JSW Energy requested the government to allot alternative land.”
Currently, JSW Energy has an installed capacity of 995 MW which it plans to increase to 3,140 MW by 2011 and 11,390 MW by September 2015. “
Mr V K Dhanuka senior vice president energy projects of JSW Energy said that “Power plants aggregating 3,650 MW are under operation or at an advanced stage. These projects are coming up in Rajasthan, Maharashtra and Himachal Pradesh.”
In addition, proposals for four other power plants of 7,740 MW are under development. These are for a 3,200 MW one at Ratnagiri in Maharashtra, 1,600 Mw in West Bengal, 1,620 MW in Jharkhand and 1,320 MW in Chhattisgarh.
For projects in the construction and implementation stage, the company requires capital outlay of INR 14,048 crore of which INR 9,979 crore will be raised through debt. For the remaining INR 4,069 crore, the company intends to mop INR 2,134 crore through a public issue.
(Sourced from http://www.steelguru.com/news/index/2009/09/25/MTEzMzQx/JSW_Energy_wants_to_shift_plant_to_Dahej.html)
Volvo to launch double decker and vestibule buses
Volvo is planning to launch its double decker and vestibule buses in the country in the next three to five years.
Mr Akash Passey MD of Volvo Buses India said that "We are planning to introduce our entire range of models we have in our parent company kitty in the next three to five years.”
Volvo currently offers two models of luxury coaches and city-type buses from its Bangalore facility. Mr Passey said that "We are also introducing sleeper coaches in Gujarat and Karnataka from next month where demand for such transport is very high.”
Volvo registered a jump of 50% in its sales over the last year owing to bulk orders by different state transport corporations under the JNNURM project. In 2008, Volvo sold 400 buses of which 250 were city-type and the rest coaches, while this year the company has sold 600 buses most of which are city type.
Mr Passey said that "We plan to hold on to the 600 sales figure, though there will be no JNNURM in 2010.” He also claimed that the company was making rapid progress in the city bus segment with 12 cities in the country now running Volvo buses, which are four-times expensive. But given the operational benefits and longer life, operators are shifting to it.
(Sourced from http://www.steelguru.com/news/index/2009/09/25/MTEzMzQw/Volvo_to_launch_double_decker_and_vestibule_buses.html)
Mr Akash Passey MD of Volvo Buses India said that "We are planning to introduce our entire range of models we have in our parent company kitty in the next three to five years.”
Volvo currently offers two models of luxury coaches and city-type buses from its Bangalore facility. Mr Passey said that "We are also introducing sleeper coaches in Gujarat and Karnataka from next month where demand for such transport is very high.”
Volvo registered a jump of 50% in its sales over the last year owing to bulk orders by different state transport corporations under the JNNURM project. In 2008, Volvo sold 400 buses of which 250 were city-type and the rest coaches, while this year the company has sold 600 buses most of which are city type.
Mr Passey said that "We plan to hold on to the 600 sales figure, though there will be no JNNURM in 2010.” He also claimed that the company was making rapid progress in the city bus segment with 12 cities in the country now running Volvo buses, which are four-times expensive. But given the operational benefits and longer life, operators are shifting to it.
(Sourced from http://www.steelguru.com/news/index/2009/09/25/MTEzMzQw/Volvo_to_launch_double_decker_and_vestibule_buses.html)
Adhunik Metaliks to foray into power sector
Steel and mining company Adhunik Metaliks is planning to foray into the power sector by setting up 3,480 MW generation capacity before 2015 with an investment of close to INR 17,000 crore.
Mr Arun Kedia CFO of Adhunik Metaliks told Business Standard that the INR 3,000 crore Adhunik Metaliks Group’s energy plans will be powered through Adhunik Power and Natural Resources, which will act as the holding company for three coal-based power projects planned in Jharkhand, Orissa and Bihar.
He said that the company, which is now implementing a 540 MW project near Jamshedpur in Jharkhand will double the capacity to 1,080 Mw in the second phase. It is also planning to set up super critical power plants in Chhattisgarh and Bihar of 1,200 MW capacity each.
The company requires around INR 5,000 crore in equity for its power plans. This will be funded by an initial public offering in 2011, strategic tie-ups with power sector players and a stake sale to private equity players, he said.
The Union government is planning to add a minimum 60,000 Mw of capacity during the current five year plan and another 100,000 Mw during the next five-year plan to meet the increasing demand for power. Private sector players, such as Reliance Power, TATA Power, GMR Energy, JSW Energy, Lanco Infratech, Essar and Indiabulls have a pipeline of various power projects, ranging between 3,000 Mw to 32,000 Mw of total capacity.
Mr Kedia said that “We have coal mines under development and it a natural business diversification for us to develop coal based power projects.”
Adhunik Power and Natural Resources is currently in advanced talks with three domestic private equity companies to raise INR 300 crore to INR 400 crore by offloading a 30% to 40% stake. This is to fund the INR 263 crore equity portion of the first phase of the Jamshedpur project.
The company has raised close to INR 1,700 crore of the INR 1,997 crore debt portion, from a consortium of banks led by State Bank of India. The company is planning financial closure for the first phase by next month.
(Sourced from http://www.steelguru.com/news/index/2009/09/25/MTEzMzM5/Adhunik_Metaliks_to_foray_into_power_sector.html)
Mr Arun Kedia CFO of Adhunik Metaliks told Business Standard that the INR 3,000 crore Adhunik Metaliks Group’s energy plans will be powered through Adhunik Power and Natural Resources, which will act as the holding company for three coal-based power projects planned in Jharkhand, Orissa and Bihar.
He said that the company, which is now implementing a 540 MW project near Jamshedpur in Jharkhand will double the capacity to 1,080 Mw in the second phase. It is also planning to set up super critical power plants in Chhattisgarh and Bihar of 1,200 MW capacity each.
The company requires around INR 5,000 crore in equity for its power plans. This will be funded by an initial public offering in 2011, strategic tie-ups with power sector players and a stake sale to private equity players, he said.
The Union government is planning to add a minimum 60,000 Mw of capacity during the current five year plan and another 100,000 Mw during the next five-year plan to meet the increasing demand for power. Private sector players, such as Reliance Power, TATA Power, GMR Energy, JSW Energy, Lanco Infratech, Essar and Indiabulls have a pipeline of various power projects, ranging between 3,000 Mw to 32,000 Mw of total capacity.
Mr Kedia said that “We have coal mines under development and it a natural business diversification for us to develop coal based power projects.”
Adhunik Power and Natural Resources is currently in advanced talks with three domestic private equity companies to raise INR 300 crore to INR 400 crore by offloading a 30% to 40% stake. This is to fund the INR 263 crore equity portion of the first phase of the Jamshedpur project.
The company has raised close to INR 1,700 crore of the INR 1,997 crore debt portion, from a consortium of banks led by State Bank of India. The company is planning financial closure for the first phase by next month.
(Sourced from http://www.steelguru.com/news/index/2009/09/25/MTEzMzM5/Adhunik_Metaliks_to_foray_into_power_sector.html)
Nagarjuna Construction to raise INR 600 crore via QIP route
Nagarjuna Construction on Thursday said it will raise INR 600 crore by way of private placement of shares with potential buyers.
Nagarjuna in a filing to the Bombay Stock Exchange said that the shareholders have approved to raise funds to the tune of INR 550 crore with an option to raise an additional amount of INR 50 crore, if the issue is fully subscribed by private placement of shares with buyers.
The filing added that further the company has approved the appointment of Mr AJ Jaganathan as director on the board.
(Sourced from www.steelguru.com)
Nagarjuna in a filing to the Bombay Stock Exchange said that the shareholders have approved to raise funds to the tune of INR 550 crore with an option to raise an additional amount of INR 50 crore, if the issue is fully subscribed by private placement of shares with buyers.
The filing added that further the company has approved the appointment of Mr AJ Jaganathan as director on the board.
(Sourced from www.steelguru.com)
No offer from Bharati Shipyard and ABG - Great Offshore
Great Offshore Ltd on Thursday said it has not received any offer from Bharati Shipyard and ABG Shipyard for its acquisition and also SEBI is yet to give its approval for the acquisition.
Both Bharati Shipyard and ABG Shipyard have made several counter-offers for acquiring Great Offshore in the recent past through public pronouncements.
Mr Rajat Dutta GM of Great Offshore told reporters on the sidelines of the company's Annual General Meeting that "Both Bharati Shipyard and ABG Shipyard have made public announcements, but the Securities and Exchange Board of India is yet to give its permission.”
The annual general meeting of the company was held today under the interim board constituted following the exit of the original promoters, the Sheth family.
As per the shareholding pattern of the company on September 22nd Bharati Shipyard holds 22.48%, ABG Shipyard 9%, insurance companies and banks 9% mutual funds 2% and FIIs 8% while the balance is with the public.
The original promoters Vijay Sheth and family hold 0.85% stake in Great Offshore, Dutta said. Last week, Bharati Shipyard had increased its stake to over 22% in Great Offshore following acquisition of shares worth INR 42.26 crore through an open-market purchase.
(Sourced from www.steelguru.com)
Both Bharati Shipyard and ABG Shipyard have made several counter-offers for acquiring Great Offshore in the recent past through public pronouncements.
Mr Rajat Dutta GM of Great Offshore told reporters on the sidelines of the company's Annual General Meeting that "Both Bharati Shipyard and ABG Shipyard have made public announcements, but the Securities and Exchange Board of India is yet to give its permission.”
The annual general meeting of the company was held today under the interim board constituted following the exit of the original promoters, the Sheth family.
As per the shareholding pattern of the company on September 22nd Bharati Shipyard holds 22.48%, ABG Shipyard 9%, insurance companies and banks 9% mutual funds 2% and FIIs 8% while the balance is with the public.
The original promoters Vijay Sheth and family hold 0.85% stake in Great Offshore, Dutta said. Last week, Bharati Shipyard had increased its stake to over 22% in Great Offshore following acquisition of shares worth INR 42.26 crore through an open-market purchase.
(Sourced from www.steelguru.com)
Tuesday, September 22, 2009
AP government to adopt industry friendly policies - CM
It is reported that Mr K Rosaiah chief minister of Andhra Pradesh said the union government is keen on supporting industrial growth in Andhra Pradesh by providing huge funds for the expansion of Vizag Steel Plant and establishing the BHEL-NTPC plant at Mannavaram in Chittoor district.
While inaugurating the TG Venkatesh Bhavan and Atluri Koteswara Rao Memorial Hall at the Andhra Chamber of Commercey, Mr Rosaiah said that state would witness rapid industrialization with the expansion of Vizag Steel Plant with an investment of INR 9,000 crore. Around INR 6,000 crore will be invested in the Mannavaram project.
He added that “After the establishment of the steel plant in Vizag, no other industry in public sector has been established in the state. With the initiative of late chief minister YS Rajasekhar Reddy, BHEL-NTPC project is being set up in Chittoor. It is a great achievement for the state. The Prime Minister, Dr Manmohan Singh will visit the state very shortly for setting the foundation stone for the project.”
Mr Rosaiah said the government will continue to adopt industry friendly policies.
(Sourced from www.steelguru.com
)
While inaugurating the TG Venkatesh Bhavan and Atluri Koteswara Rao Memorial Hall at the Andhra Chamber of Commercey, Mr Rosaiah said that state would witness rapid industrialization with the expansion of Vizag Steel Plant with an investment of INR 9,000 crore. Around INR 6,000 crore will be invested in the Mannavaram project.
He added that “After the establishment of the steel plant in Vizag, no other industry in public sector has been established in the state. With the initiative of late chief minister YS Rajasekhar Reddy, BHEL-NTPC project is being set up in Chittoor. It is a great achievement for the state. The Prime Minister, Dr Manmohan Singh will visit the state very shortly for setting the foundation stone for the project.”
Mr Rosaiah said the government will continue to adopt industry friendly policies.
(Sourced from www.steelguru.com
)
Narrow HR steel plate prices remain flat on Sep 22
PLTS
GR A
8x1250
Location Change
Mumbai 0
Chennai 0
Kanpur 0
Rudrapur 0
Change is on September 22nd as compared to September 21st 2009
Change is in INR per tonne
To know exact prevailing steel prices in India in 29 locations on daily basis, subscribe to services of www.steelprices-india.com by registering or sending a mail to admin@steelprices-india.com Please note that this is a paid service.
(Sourced from www.steelprices-india.com)
GR A
8x1250
Location Change
Mumbai 0
Chennai 0
Kanpur 0
Rudrapur 0
Change is on September 22nd as compared to September 21st 2009
Change is in INR per tonne
To know exact prevailing steel prices in India in 29 locations on daily basis, subscribe to services of www.steelprices-india.com by registering or sending a mail to admin@steelprices-india.com Please note that this is a paid service.
(Sourced from www.steelprices-india.com)
Steel joist (Beam) prices scenario in major places
JSTI
GR A
250X125
Location Change
Mumbai 0
Chennai 0
Kolkata 0
Delhi 0
Mandi 208
Raipur 0
Kanpur -300
Rudrapur -200
Ahmedabad 0
Indore 0
Bangalore 0
Change is on September 22nd as compared to September 21st 2009
Change is in INR per tonne
To know exact prevailing steel prices in India in 29 locations on daily basis, subscribe to services of www.steelprices-india.com by registering or sending a mail to admin@steelprices-india.com Please note that this is a paid service.
(Sourced from www.steelprices-india.com
GR A
250X125
Location Change
Mumbai 0
Chennai 0
Kolkata 0
Delhi 0
Mandi 208
Raipur 0
Kanpur -300
Rudrapur -200
Ahmedabad 0
Indore 0
Bangalore 0
Change is on September 22nd as compared to September 21st 2009
Change is in INR per tonne
To know exact prevailing steel prices in India in 29 locations on daily basis, subscribe to services of www.steelprices-india.com by registering or sending a mail to admin@steelprices-india.com Please note that this is a paid service.
(Sourced from www.steelprices-india.com
Steel light channel prices update on Sep 22
CHNL
GR A
75/100
Location Change
Mumbai 0
Chennai 0
Kolkata 0
Delhi 0
Mandi 0
Raipur 0
Kanpur 0
Rudrapur 300
Ahmedabad 113
Indore 0
Bangalore 0
Change is on September 22nd as compared to September 21st 2009
Change is in INR per tonne
To know exact prevailing steel prices in India in 29 locations on daily basis, subscribe to services of www.steelprices-india.com by registering or sending a mail to admin@steelprices-india.com Please note that this is a paid service.
(Sourced from www.steelprices-india.com
GR A
75/100
Location Change
Mumbai 0
Chennai 0
Kolkata 0
Delhi 0
Mandi 0
Raipur 0
Kanpur 0
Rudrapur 300
Ahmedabad 113
Indore 0
Bangalore 0
Change is on September 22nd as compared to September 21st 2009
Change is in INR per tonne
To know exact prevailing steel prices in India in 29 locations on daily basis, subscribe to services of www.steelprices-india.com by registering or sending a mail to admin@steelprices-india.com Please note that this is a paid service.
(Sourced from www.steelprices-india.com
Wire rod price up by INR 462 a tonne in Kolkata
WRC
SWR14
5.5/6
Location Change
Chennai 0
Kolkata 462
Delhi 0
Raipur 0
Kanpur 0
Rudrapur 0
Change is on September 22nd as compared to September 21st 2009
Change is in INR per tonne
To know exact prevailing steel prices in India in 29 locations on daily basis, subscribe to services of www.steelprices-india.com by registering or sending a mail to admin@steelprices-india.com Please note that this is a paid service.
(Sourced from www.steelprices-india.com)
SWR14
5.5/6
Location Change
Chennai 0
Kolkata 462
Delhi 0
Raipur 0
Kanpur 0
Rudrapur 0
Change is on September 22nd as compared to September 21st 2009
Change is in INR per tonne
To know exact prevailing steel prices in India in 29 locations on daily basis, subscribe to services of www.steelprices-india.com by registering or sending a mail to admin@steelprices-india.com Please note that this is a paid service.
(Sourced from www.steelprices-india.com)
HRC prices remain unchanged in major places
HRC
Tube
2.5x1250
Location Change
Mumbai 0
Kolkata 0
Delhi 0
Ludhiana 0
Ahmedabad 0
Bangalore 0
Change is on September 22nd as compared to September 21st 2009
Change is in INR per tonne
To know exact prevailing steel prices in India in 29 locations on daily basis, subscribe to services of www.steelprices-india.com by registering or sending a mail to admin@steelprices-india.com Please note that this is a paid service.
(Sourced from www.steelprices-india.com)
Tube
2.5x1250
Location Change
Mumbai 0
Kolkata 0
Delhi 0
Ludhiana 0
Ahmedabad 0
Bangalore 0
Change is on September 22nd as compared to September 21st 2009
Change is in INR per tonne
To know exact prevailing steel prices in India in 29 locations on daily basis, subscribe to services of www.steelprices-india.com by registering or sending a mail to admin@steelprices-india.com Please note that this is a paid service.
(Sourced from www.steelprices-india.com)
GC (HDG) price decreases in Kanpur
GC
100Gms
0.40
Location Change
Mumbai 0
Chennai 0
Kolkata 0
Delhi 0
Ludhiana 0
Kanpur -89
Rudrapur 0
Bangalore 0
Change is on September 22nd as compared to September 21st 2009
Change is in INR per tonne
To know exact prevailing steel prices in India in 29 locations on daily basis, subscribe to services of www.steelprices-india.com by registering or sending a mail to admin@steelprices-india.com Please note that this is a paid service.
(Sourced from www.steelprices-india.com)
100Gms
0.40
Location Change
Mumbai 0
Chennai 0
Kolkata 0
Delhi 0
Ludhiana 0
Kanpur -89
Rudrapur 0
Bangalore 0
Change is on September 22nd as compared to September 21st 2009
Change is in INR per tonne
To know exact prevailing steel prices in India in 29 locations on daily basis, subscribe to services of www.steelprices-india.com by registering or sending a mail to admin@steelprices-india.com Please note that this is a paid service.
(Sourced from www.steelprices-india.com)
Steel plate cuttings price remains flat at Alang
Product Grade Size Change
Ship Scrap Melting Mixed 200
Plate cuttings Rolling 1" 0
Change is on September 22nd as compared to September 21st 2009
Change is in INR per tonne
To know exact prevailing steel prices in India in 29 locations on daily basis, subscribe to services of www.steelprices-india.com by registering or sending a mail to admin@steelprices-india.com Please note that this is a paid service.
(Sourced from www.steelprices-india.com)
Ship Scrap Melting Mixed 200
Plate cuttings Rolling 1" 0
Change is on September 22nd as compared to September 21st 2009
Change is in INR per tonne
To know exact prevailing steel prices in India in 29 locations on daily basis, subscribe to services of www.steelprices-india.com by registering or sending a mail to admin@steelprices-india.com Please note that this is a paid service.
(Sourced from www.steelprices-india.com)
Wide steel plate price improves in Kolkata on Sep 22
PLTS
GR B
12-20x2.5
Location Change
Mumbai 0
Chennai 0
Kolkata 92
Delhi 0
Raipur 0
Kanpur 0
Rudrapur 0
Ahmedabad 0
Indore 0
Bangalore 0
Change is on September 22nd as compared to September 21st 2009
Change is in INR per tonne
To know exact prevailing steel prices in India in 29 locations on daily basis, subscribe to services of www.steelprices-india.com by registering or sending a mail to admin@steelprices-india.com Please note that this is a paid service.
(Sourced from www.steelprices-india.com)
GR B
12-20x2.5
Location Change
Mumbai 0
Chennai 0
Kolkata 92
Delhi 0
Raipur 0
Kanpur 0
Rudrapur 0
Ahmedabad 0
Indore 0
Bangalore 0
Change is on September 22nd as compared to September 21st 2009
Change is in INR per tonne
To know exact prevailing steel prices in India in 29 locations on daily basis, subscribe to services of www.steelprices-india.com by registering or sending a mail to admin@steelprices-india.com Please note that this is a paid service.
(Sourced from www.steelprices-india.com)
Public private partnership deals no longer confidential - CIC
The Central Information Commission has ruled the details of agreements signed by governments with private organizations to execute projects can no longer be kept secret. If a right to information application is moved seeking the relevant information, it will have to be provided.
The decision is likely to have far reaching and potentially damaging implications as private companies may well shy away from such close scrutiny of their financial arrangements. So far the text of PPP agreements could be kept confidential, citing business interests.
The PPP model has been increasingly used in recent years to finance and build infrastructure from highways to ports, from Metro lines to industrial facilities. Industry estimates say 20% of India's infrastructure projects fall in this category.
The CIC has ordered the state-owned Mumbai Port Trust to release in its entirety the agreement it signed with a consortium led by Gammon India Ltd, to construct an off-shore container terminal along Mumbai’s coast.
A three-member bench of the CIC ruled on an RTI application filed by an activist organization the Bombay Environmental Action Group it said that “A PPP agreement involving the nation's physical resources and its infrastructure, which had critical environmental social and human aspects, apart from technical and financial aspects, could not be a matter between the bureaucracy of the government and the private party alone.”
The BEAG’s application was twice rejected at lower levels before the CIC upheld it. Ms Hema Ramani of BEAG said that “This project is about public land and public money. If the government can know the implications of the project, why cannot the public?.”
The Planning Commission and the Comptroller and Auditor General have also endorsed the ruling.
So far industry has reacted cautiously. Mr Vinayak Chatterjee who heads the Council on Infrastructure Confederation of Indian Industry said that “I welcome the order. PPP agreements should be open to public scrutiny.”
(Sourced from www.steelguru.com)
The decision is likely to have far reaching and potentially damaging implications as private companies may well shy away from such close scrutiny of their financial arrangements. So far the text of PPP agreements could be kept confidential, citing business interests.
The PPP model has been increasingly used in recent years to finance and build infrastructure from highways to ports, from Metro lines to industrial facilities. Industry estimates say 20% of India's infrastructure projects fall in this category.
The CIC has ordered the state-owned Mumbai Port Trust to release in its entirety the agreement it signed with a consortium led by Gammon India Ltd, to construct an off-shore container terminal along Mumbai’s coast.
A three-member bench of the CIC ruled on an RTI application filed by an activist organization the Bombay Environmental Action Group it said that “A PPP agreement involving the nation's physical resources and its infrastructure, which had critical environmental social and human aspects, apart from technical and financial aspects, could not be a matter between the bureaucracy of the government and the private party alone.”
The BEAG’s application was twice rejected at lower levels before the CIC upheld it. Ms Hema Ramani of BEAG said that “This project is about public land and public money. If the government can know the implications of the project, why cannot the public?.”
The Planning Commission and the Comptroller and Auditor General have also endorsed the ruling.
So far industry has reacted cautiously. Mr Vinayak Chatterjee who heads the Council on Infrastructure Confederation of Indian Industry said that “I welcome the order. PPP agreements should be open to public scrutiny.”
(Sourced from www.steelguru.com)
NTPC exploring tie ups with oil PSUs for NELP
With increased availability of domestic gas NTPC Ltd wants to step up building new power stations with gas as feedstock.
As a step in this direction, the power major is looking to tie up with public sector oil companies, including Indian Oil Corporation to jointly bid for the oil and gas blocks put on offer under the eighth round of the New Exploration Licensing Policy.
The company has already written to IOC to explore the possibility of striking a partnership and is also looking at tie-ups with other companies, company sources said. The country’s largest power producer had bagged its maiden oil exploration block in 2005 under NELP-V.
A NTPC official said that “We had earlier decided to go slow on gas based capacity addition due to fuel uncertainty. But with prospects looking up after the recent finds, we are planning to build more gas based stations. We will be participating in the eighth round of oil and gas block auctions.”
Under the NELP regime, significant natural gas production in the Krishna-Godavari Basin began from April. With this, the gas production in India would double from 2008-09 levels.
(Sourced from http://www.steelguru.com/news/index/2009/09/23/MTEzMDU2/NTPC_exploring_tie_ups_with_oil_PSUs_for_NELP.html)
As a step in this direction, the power major is looking to tie up with public sector oil companies, including Indian Oil Corporation to jointly bid for the oil and gas blocks put on offer under the eighth round of the New Exploration Licensing Policy.
The company has already written to IOC to explore the possibility of striking a partnership and is also looking at tie-ups with other companies, company sources said. The country’s largest power producer had bagged its maiden oil exploration block in 2005 under NELP-V.
A NTPC official said that “We had earlier decided to go slow on gas based capacity addition due to fuel uncertainty. But with prospects looking up after the recent finds, we are planning to build more gas based stations. We will be participating in the eighth round of oil and gas block auctions.”
Under the NELP regime, significant natural gas production in the Krishna-Godavari Basin began from April. With this, the gas production in India would double from 2008-09 levels.
(Sourced from http://www.steelguru.com/news/index/2009/09/23/MTEzMDU2/NTPC_exploring_tie_ups_with_oil_PSUs_for_NELP.html)
RIL Jamnagar SEZ exports to cross INR 50,000 crore
Coming out of the shadows after facing a slump in the global petrochemicals market, Reliance Industries special economic zone in Jamnagar is likely to emerge as one of the largest SEZs in the country.
Mr Upendra Vasishth Development Commissioner of Reliance Jamnagar SEZ told Business Standard that “Reliance SEZ is expected to export goods worth at least INR 50,000 crore by March 2010. This will be the largest in terms of exports compared with any other SEZ in the country.”
In 2008-09 exports from all SEZs in India had been pegged at INR 99,500 crore of which exports from SEZs in Gujarat stood at INR 26,000 crore. This financial year exports from all the SEZs are poised to touch INR 170,000 crore, according to Vasishth. The INR 25,000 crore Jamnagar Export Refinery Project located in the SEZ became functional on December 25th 2008. But it became fully operational only in July this year. Exports from the refinery have already touched INR 18,000 crore till August 31.
JERP has added nearly 20% to the country’s refinery capacity and has made RIL the largest crude oil refining company in India. The refining capacity of JERP is 29 million tonnes per annum and its exports are primarily aimed at the US and European markets. The refinery produces about 31 kilo tonnes a day of diesel, 25 kilo tonnes a day of petrol along with sulphur, pet coke, fuel oil and naphtha.
The polypropylene plant in the SEZ also has a capacity of about a million tonnes per annum and the plant is working full throttle to cater to heavy export orders, according to company sources.
Sources said that Reliance is also in the process of setting up a C2/C3 cracker unit in JERP to produce downstream products like methyl ethyl glycol low density polyethylene and low density polyethylene.
(Sourced from http://www.steelguru.com/news/index/2009/09/23/MTEzMDU1/RIL_Jamnagar_SEZ_exports_to_cross_INR_50%252C000_crore.html)
Mr Upendra Vasishth Development Commissioner of Reliance Jamnagar SEZ told Business Standard that “Reliance SEZ is expected to export goods worth at least INR 50,000 crore by March 2010. This will be the largest in terms of exports compared with any other SEZ in the country.”
In 2008-09 exports from all SEZs in India had been pegged at INR 99,500 crore of which exports from SEZs in Gujarat stood at INR 26,000 crore. This financial year exports from all the SEZs are poised to touch INR 170,000 crore, according to Vasishth. The INR 25,000 crore Jamnagar Export Refinery Project located in the SEZ became functional on December 25th 2008. But it became fully operational only in July this year. Exports from the refinery have already touched INR 18,000 crore till August 31.
JERP has added nearly 20% to the country’s refinery capacity and has made RIL the largest crude oil refining company in India. The refining capacity of JERP is 29 million tonnes per annum and its exports are primarily aimed at the US and European markets. The refinery produces about 31 kilo tonnes a day of diesel, 25 kilo tonnes a day of petrol along with sulphur, pet coke, fuel oil and naphtha.
The polypropylene plant in the SEZ also has a capacity of about a million tonnes per annum and the plant is working full throttle to cater to heavy export orders, according to company sources.
Sources said that Reliance is also in the process of setting up a C2/C3 cracker unit in JERP to produce downstream products like methyl ethyl glycol low density polyethylene and low density polyethylene.
(Sourced from http://www.steelguru.com/news/index/2009/09/23/MTEzMDU1/RIL_Jamnagar_SEZ_exports_to_cross_INR_50%252C000_crore.html)
Indian steel angle prices movement on Sep 22
ANGL
GR A
65X6
Location Change
Mumbai 0
Chennai 0
Kolkata -520
Delhi 0
Mandi 208
Raipur 0
Kanpur 0
Rudrapur 100
Ahmedabad 113
Indore 0
Bangalore 0
Change is on September 22nd as compared to September 21st 2009
Change is in INR per tonne
To know exact prevailing steel prices in India in 29 locations on daily basis, subscribe to services of www.steelprices-india.com by registering or sending a mail to admin@steelprices-india.com Please note that this is a paid service.
(Sourced from www.steelprices-india.com)
GR A
65X6
Location Change
Mumbai 0
Chennai 0
Kolkata -520
Delhi 0
Mandi 208
Raipur 0
Kanpur 0
Rudrapur 100
Ahmedabad 113
Indore 0
Bangalore 0
Change is on September 22nd as compared to September 21st 2009
Change is in INR per tonne
To know exact prevailing steel prices in India in 29 locations on daily basis, subscribe to services of www.steelprices-india.com by registering or sending a mail to admin@steelprices-india.com Please note that this is a paid service.
(Sourced from www.steelprices-india.com)
Friday, September 18, 2009
Narrow HR steel plate improves in Rudrapur
PLTS
GR A
8x1250
Location Change
Mumbai 0
Chennai 0
Kanpur 0
Rudrapur 178
Change is on September 18th as compared to September 17th 2009
Change is in INR per tonne
To know exact prevailing steel prices in India in 29 locations on daily basis, subscribe to services of www.steelprices-india.com by registering or sending a mail to admin@steelprices-india.com Please note that this is a paid service.
(Sourced from www.steelprices-india.com)
GR A
8x1250
Location Change
Mumbai 0
Chennai 0
Kanpur 0
Rudrapur 178
Change is on September 18th as compared to September 17th 2009
Change is in INR per tonne
To know exact prevailing steel prices in India in 29 locations on daily basis, subscribe to services of www.steelprices-india.com by registering or sending a mail to admin@steelprices-india.com Please note that this is a paid service.
(Sourced from www.steelprices-india.com)
Steel joist (Beam) prices scenario in major places in India
JSTI
GR A
250X125
Location Change
Mumbai 0
Chennai 0
Kolkata 0
Delhi 0
Mandi -728
Raipur 0
Kanpur 300
Rudrapur -300
Ahmedabad -104
Indore 0
Bangalore 500
Change is on September 18th as compared to September 17th 2009
Change is in INR per tonne
To know exact prevailing steel prices in India in 29 locations on daily basis, subscribe to services of www.steelprices-india.com by registering or sending a mail to admin@steelprices-india.com Please note that this is a paid service.
(Sourced from www.steelprices-india.com
GR A
250X125
Location Change
Mumbai 0
Chennai 0
Kolkata 0
Delhi 0
Mandi -728
Raipur 0
Kanpur 300
Rudrapur -300
Ahmedabad -104
Indore 0
Bangalore 500
Change is on September 18th as compared to September 17th 2009
Change is in INR per tonne
To know exact prevailing steel prices in India in 29 locations on daily basis, subscribe to services of www.steelprices-india.com by registering or sending a mail to admin@steelprices-india.com Please note that this is a paid service.
(Sourced from www.steelprices-india.com
Steel light channel prices update for September 18
CHNL
GR A
75/100
Location Change
Mumbai 0
Chennai 0
Kolkata 0
Delhi 0
Mandi -520
Raipur 0
Kanpur 0
Rudrapur 100
Ahmedabad -338
Indore 0
Bangalore 500
Change is on September 18th as compared to September 17th 2009
Change is in INR per tonne
To know exact prevailing steel prices in India in 29 locations on daily basis, subscribe to services of www.steelprices-india.com by registering or sending a mail to admin@steelprices-india.com Please note that this is a paid service.
(Sourced from www.steelprices-india.com
GR A
75/100
Location Change
Mumbai 0
Chennai 0
Kolkata 0
Delhi 0
Mandi -520
Raipur 0
Kanpur 0
Rudrapur 100
Ahmedabad -338
Indore 0
Bangalore 500
Change is on September 18th as compared to September 17th 2009
Change is in INR per tonne
To know exact prevailing steel prices in India in 29 locations on daily basis, subscribe to services of www.steelprices-india.com by registering or sending a mail to admin@steelprices-india.com Please note that this is a paid service.
(Sourced from www.steelprices-india.com
Steel angle prices movement on September 18
ANGL
GR A
65X6
Location Change
Mumbai 0
Chennai 0
Kolkata 0
Delhi 0
Mandi -416
Raipur 0
Kanpur 0
Rudrapur 0
Ahmedabad 0
Indore 0
Bangalore 500
Change is on September 18th as compared to September 17th 2009
Change is in INR per tonne
To know exact prevailing steel prices in India in 29 locations on daily basis, subscribe to services of www.steelprices-india.com by registering or sending a mail to admin@steelprices-india.com Please note that this is a paid service.
(Sourced from www.steelprices-india.com
GR A
65X6
Location Change
Mumbai 0
Chennai 0
Kolkata 0
Delhi 0
Mandi -416
Raipur 0
Kanpur 0
Rudrapur 0
Ahmedabad 0
Indore 0
Bangalore 500
Change is on September 18th as compared to September 17th 2009
Change is in INR per tonne
To know exact prevailing steel prices in India in 29 locations on daily basis, subscribe to services of www.steelprices-india.com by registering or sending a mail to admin@steelprices-india.com Please note that this is a paid service.
(Sourced from www.steelprices-india.com
Steel wire rod prices remain flat in major places
WRC
SWR14
5.5/6
Location Change
Chennai 0
Kolkata 0
Delhi 0
Raipur 0
Kanpur 0
Rudrapur 0
Change is on September 18th as compared to September 17th 2009
Change is in INR per tonne
To know exact prevailing steel prices in India in 29 locations on daily basis, subscribe to services of www.steelprices-india.com by registering or sending a mail to admin@steelprices-india.com Please note that this is a paid service.
(Sourced from www.steelprices-india.com)
SWR14
5.5/6
Location Change
Chennai 0
Kolkata 0
Delhi 0
Raipur 0
Kanpur 0
Rudrapur 0
Change is on September 18th as compared to September 17th 2009
Change is in INR per tonne
To know exact prevailing steel prices in India in 29 locations on daily basis, subscribe to services of www.steelprices-india.com by registering or sending a mail to admin@steelprices-india.com Please note that this is a paid service.
(Sourced from www.steelprices-india.com)
Steel rebar (TMT) price drops in Mandi on September 18
TMT
Fe 415
12mm
Location Change
Mumbai 0
Chennai 0
Kolkata 0
Delhi 0
Mandi -208
Kanpur 0
Rudrapur 0
Ahmedabad 0
Hyderabad 0
Indore 0
Bangalore 0
Change is on September 18th as compared to September 17th 2009
Change is in INR per tonne
To know exact prevailing steel prices in India in 29 locations on daily basis, subscribe to services of www.steelprices-india.com by registering or sending a mail to admin@steelprices-india.com Please note that this is a paid service.
(Sourced from www.steelprices-india.com)
Fe 415
12mm
Location Change
Mumbai 0
Chennai 0
Kolkata 0
Delhi 0
Mandi -208
Kanpur 0
Rudrapur 0
Ahmedabad 0
Hyderabad 0
Indore 0
Bangalore 0
Change is on September 18th as compared to September 17th 2009
Change is in INR per tonne
To know exact prevailing steel prices in India in 29 locations on daily basis, subscribe to services of www.steelprices-india.com by registering or sending a mail to admin@steelprices-india.com Please note that this is a paid service.
(Sourced from www.steelprices-india.com)
CR steel price drops in Kanpur on September 18
CR
DSK
0.63
Location Change
Mumbai 0
Chennai 0
Kolkata 0
Delhi 0
Pune 0
Kanpur -178
Rudrapur 0
Ahmedabad 0
Bangalore 0
Change is on September 18th as compared to September 17th 2009
Change is in INR per tonne
To know exact prevailing steel prices in India in 29 locations on daily basis, subscribe to services of www.steelprices-india.com by registering or sending a mail to admin@steelprices-india.com Please note that this is a paid service.
(Sourced from www.steelprices-india.com)
DSK
0.63
Location Change
Mumbai 0
Chennai 0
Kolkata 0
Delhi 0
Pune 0
Kanpur -178
Rudrapur 0
Ahmedabad 0
Bangalore 0
Change is on September 18th as compared to September 17th 2009
Change is in INR per tonne
To know exact prevailing steel prices in India in 29 locations on daily basis, subscribe to services of www.steelprices-india.com by registering or sending a mail to admin@steelprices-india.com Please note that this is a paid service.
(Sourced from www.steelprices-india.com)
Patra (Narrow HR steel strips) price crash at Mandi
Patra
Location Change
Delhi 0
Mandi -462
Ludhiana -277
Change is on September 18th as compared to September 17th 2009
Change is in INR per tonne
To know exact prevailing steel prices in India in 29 locations on daily basis, subscribe to services of www.steelprices-india.com by registering or sending a mail to admin@steelprices-india.com Please note that this is a paid service.
(Sourced from www.steelprices-india.com)
Location Change
Delhi 0
Mandi -462
Ludhiana -277
Change is on September 18th as compared to September 17th 2009
Change is in INR per tonne
To know exact prevailing steel prices in India in 29 locations on daily basis, subscribe to services of www.steelprices-india.com by registering or sending a mail to admin@steelprices-india.com Please note that this is a paid service.
(Sourced from www.steelprices-india.com)
HR steel prices remain unchanged in India on September 18
HRC
Tube
2.5x1250
Location Change
Mumbai 0
Kolkata 0
Delhi 0
Ludhiana 0
Ahmedabad 0
Bangalore 0
Change is on September 18th as compared to September 17th 2009
Change is in INR per tonne
To know exact prevailing steel prices in India in 29 locations on daily basis, subscribe to services of www.steelprices-india.com by registering or sending a mail to admin@steelprices-india.com Please note that this is a paid service.
(Sourced from www.steelprices-india.com)
Tube
2.5x1250
Location Change
Mumbai 0
Kolkata 0
Delhi 0
Ludhiana 0
Ahmedabad 0
Bangalore 0
Change is on September 18th as compared to September 17th 2009
Change is in INR per tonne
To know exact prevailing steel prices in India in 29 locations on daily basis, subscribe to services of www.steelprices-india.com by registering or sending a mail to admin@steelprices-india.com Please note that this is a paid service.
(Sourced from www.steelprices-india.com)
Sponge iron prices crash by INR 500
Sponge iron
Location Change
Kolkata 0
Raipur -500
Raigarh -100
Rourkela -500
Change is on September 18th as compared to September 17th 2009
Change is in INR per tonne
To know exact prevailing steel prices in India in 29 locations on daily basis, subscribe to services of www.steelprices-india.com by registering or sending a mail to admin@steelprices-india.com Please note that this is a paid service.
(Sourced from www.steelprices-india.com)
Location Change
Kolkata 0
Raipur -500
Raigarh -100
Rourkela -500
Change is on September 18th as compared to September 17th 2009
Change is in INR per tonne
To know exact prevailing steel prices in India in 29 locations on daily basis, subscribe to services of www.steelprices-india.com by registering or sending a mail to admin@steelprices-india.com Please note that this is a paid service.
(Sourced from www.steelprices-india.com)
GC (HDG) prices jumps up by INR 1016 at Ludhiana
GC
100Gms
0.40
Location Change
Mumbai 0
Chennai 0
Kolkata 0
Delhi 0
Ludhiana 1016
Kanpur 89
Rudrapur 0
Bangalore 0
Change is on September 18th as compared to September 17th 2009
Change is in INR per tonne
To know exact prevailing steel prices in India in 29 locations on daily basis, subscribe to services of www.steelprices-india.com by registering or sending a mail to admin@steelprices-india.com Please note that this is a paid service.
(Sourced from www.steelprices-india.com)
100Gms
0.40
Location Change
Mumbai 0
Chennai 0
Kolkata 0
Delhi 0
Ludhiana 1016
Kanpur 89
Rudrapur 0
Bangalore 0
Change is on September 18th as compared to September 17th 2009
Change is in INR per tonne
To know exact prevailing steel prices in India in 29 locations on daily basis, subscribe to services of www.steelprices-india.com by registering or sending a mail to admin@steelprices-india.com Please note that this is a paid service.
(Sourced from www.steelprices-india.com)
Ship breaking steel scrap and plate cuttings prices drop at Alang
Product Grade Size Change
Ship Scrap Melting Mixed -300
Plate cuttings Rolling 1” -300
Change is on September 18th as compared to September 17th 2009
Change is in INR per tonne
To know exact prevailing steel prices in India in 29 locations on daily basis, subscribe to services of www.steelprices-india.com by registering or sending a mail to admin@steelprices-india.com Please note that this is a paid service.
(Sourced from www.steelprices-india.com)
Ship Scrap Melting Mixed -300
Plate cuttings Rolling 1” -300
Change is on September 18th as compared to September 17th 2009
Change is in INR per tonne
To know exact prevailing steel prices in India in 29 locations on daily basis, subscribe to services of www.steelprices-india.com by registering or sending a mail to admin@steelprices-india.com Please note that this is a paid service.
(Sourced from www.steelprices-india.com)
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Directory of Construction Companies in India
BPCL appoints Mr Balakrishnan as director
Bharat Petroleum Corporation Ltd said that its shareholders have appointed Mr T Balakrishnan as director of the company.
BPCL in a filing to BSE said that the shareholders have approved the appointment of Mr T Balakrishnan principal secretary industry and commerce of government of Kerala
BPCL appoints Mr Balakrishnan as director
BPCL in a filing to BSE said that the shareholders have approved the appointment of Mr T Balakrishnan principal secretary industry and commerce of government of Kerala
BPCL appoints Mr Balakrishnan as director
Dabhol to start drawing Reliance gas from October 1
BL reported that the beleaguered Dabhol power plant will from October 1 start buying natural gas from Reliance Industries to cut electricity generation cost at the nation's largest gas fired unit.”
Mr A K Ahuja MD of Ratnagiri Gas and Power Pvt Ltd said that “Yes, we will start
Mr A K Ahuja MD of Ratnagiri Gas and Power Pvt Ltd said that “Yes, we will start
Cairn India appoints Mr Brown and Mr Story as directors
Cairn India said that its shareholders have appointed Mr Jann Brown and Mr Edward T Story as directors of the company.
Cairn India in a filing to BSE said that the shareholders have approved the appointment of Mr Brown and Mr Story.
(Sourced from Cairn India appoints Mr Brown and Mr Story as directors
Cairn India in a filing to BSE said that the shareholders have approved the appointment of Mr Brown and Mr Story.
(Sourced from Cairn India appoints Mr Brown and Mr Story as directors
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