Bhander, a natural gas-based thermal plant with an installed capacity of 500 MW, will remain captive to AM/NS India’s steel manufacturing operations at Hazira. The size of the deal was not immediately disclosed but it is understood to be around Rs 500 crore.
However, NMDC’s cumulative sales up to February 2020 was marginally higher at 28.90 mt against sales of 28.80 mt in April-February 2019, according to a notification sent by the company to the BSE on Monday. Production at the largest domestic state-owned mining company also saw a marginal increase to 29.12 mt in April-Feb 2020 compared to a production of 28.39 mt in the period April-February 2019.
This is due to the modest steel demand growth expectations and margin pressure.
The revision of the outlook reflects the risks in the company's ability to deleverage and generate positive free cash flow
A district mining official claimed around 3,000 tonnes of gold was found in Sonbhadra district of UP.
Super Smelters to invest close to Rs 1,000 crore in setting up a greenfield steel unit in West Bengal
As part of its brownfield expansion, Super Smelters is planning to double the capacity of its unit in Jamuria to 40,000 tonnes per month (tpm) from the existing 20,000 tpm. While investment on the greenfield steel project is likely to be around Rs 600 to Rs 700 crore, the rest will be spent on the expansion.
The PESB, which is responsible for selection of candidates for top positions at public sector companies made the announcement on its official website on Tuesday. Deb currently holds the position of Director (Personnel) at the mining major.
The initiative is expected to substantially reduce specific power consumption at the smelter. Typically, a one-percent reduction in specific power consumption based on digital smelter solutions can save about $ 4-5 million annually in the smelter potlines alone, for every one million ton per annum (mtpa) of aluminium production, an official statement said.
The company is enriching its product basket with more focus on cost minimization to improve its bottom-line.
Minister for railways, commerce and industry, Piyush Goyal, inaugurated the first phase of the Rs 8,575-crore East-West Metro corridor that seeks to link Salt Lake, to the east of downtown Kolkata, to the primary railhead at Howrah, which lies on the west bank of the Hooghly river. Passenger services for the first phase are due to start on Friday.
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