On a consolidated basis, JSPL reported a net loss of Rs 219 crore in Q3FY20 against a net loss of Rs 87 crore in the same period last year. Consolidated turnover went down to Rs 9,300 crore during the quarter against a turnover of Rs 9,566 crore in the previous corresponding quarter.
The mining lease areas for deposit-5, 10, 14 and 14 NMZ are 540.05 Ha, 309.34 Ha, 322.36 Ha and 506.74 Ha respectively.
ISSDA also urged the government for simultaneous imposition of 12.5% custom duty on stainless steel flat product imports in order to bring it at par with carbon steel. The association has also sought abolition of 7.5% import duty on graphite electrodes, another major raw material for stainless steel manufacturing, an official statement said.
The company had posted losses to the tune of Rs 5 crore in the financial year 2018-19. The turnover of SPS, is also tipped to nearly double to around Rs 900 crore in the financial year 2019-20 from Rs 480 crore after its takeover by the Shakambhari Group.
Tata Steel Netherlands Holdings B.V. (TSNHBV) executes agreements for the refinancing of its bank debt
"TSNBHV raised term loan facilities of EUR 1.75 billion from 19 banks. This represents a reduction of EUR 500 million versus the external debt outstanding in Tata Steel Europe as of March 2019," the statement said. This will enable the standalone European business to have a more robust balance sheet.
Government estimates suggest capacity addition in the steel hub would entail capital investments of over $70 billion and lead to an incremental Gross State Domestic Product of over $35 billion through steel alone, besides creating over 2.5 million jobs across the steel value chain in the region, an official statement from the steel ministry said.
Arcelor Mittal’s debut in steel industry through acquisition of Essar Steel will raise the competition in the domestic steel sector. Nevertheless there is still headroom for steel companies to increase capacities with consumption demand tipped to grow at 6-7%. Ind-Ra said continued regulatory support is critical to protect local steel players against the threat of imports.
In the process, RMD mines also notched up their highest-ever lump ore production of 7.48 mt beating the previous record of 7.14 mt achieved in 2018. Improvement in iron ore lump supply is slated to improve hot metal productivity for SAIL plants, the statement added.
Six personnel fell ill after inhaling toxic gas at Steel Authority of India’s Bhilai Steel Plant (BSP) early on Friday night.
The state-run miner posted a marginal 0.7% rise in production of iron ore up to the month of December 2019 (Apr-Dec' 2019) at 22.01 mt, compared to a production of 21.85 mt in the same period last year.
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