Indian steel giant JSW Steel announced a pact with Japan's second largest steelmaker JFE Holdings to set up a greenfield project in West Bengal and an automotive steel manufacturing unit in the nation.
"JFE and JSW will collaborate on a planned plant in West Bengal," said JSW Steel ...

Steel Minister Virbhadra Singh has mentioned that the annual steel production of the nation would reach 124 millions tonnes by 2011-12.
 
"This year (2009-10), production would be more than 60 million tonnes, up from 56 million tonnes last year," said Singh on the sidelines of the ...

ArcelorMittal SA, the world's largest steelmaker is all set to build a new steel mill in Brazil. The company plans to invest $5 billion in the project, CEO Lakshmi Mittal said in his statement.
 
The plans to invest in a plant in the south-eastern state of Espirito Santo were announced in a ...

Indian-origin steel tycoon Lakshmi Mittal is all set to acquire the Germany-based fashion house, Escada, which is currently bankrupt. A sale and transfer deal has been signed by a Mittal family member with the Insolvency administrator of the fashion house, Christian Gerloff.
 
The financial ...

Indian-born Lakshmi Mittal has been named as the richest business tycoon of South Africa by the weekly Sunday Times for the five consecutive time. Mittal has retained his status despite the fact that his fortune has dipped by 50% due to economic recession.
 
Mittal made his way into the list ...

Government-run steel manufacturer Steel Authority of India Ltd has logged in a net profit of Rs.1,660 crore for the second quarter of the 2009-10 fiscal which ended on Sep 30 as against the Rs.2,009 crore registered during 2008-09 Q2.
 
The total income has been reported to bet Rs.10,575.28 ...

The Rs.5,000 crore steel manufacturing arm of Visa Group, Visa Steel, has logged in a net profit of Rs.8.71 crore for the second quarter of this fiscal which ended on Sep 30 as against the Rs.20.1 crore registered during similar period last fiscal.
 
But the company has registered a stable ...

Steel Authority of India Limited (SAIL), which is the largest manufacturer of steel in India, has witnessed a growth of 14% in its sales for the second quarter of 2009-10 fiscal year. The sales of SAIL stood at more than 3 million tonnes for the Q2 ended Sep 2009.
 
"The company ...

ArcelorMittal, the largest steel manufacturer of the world, has plans for exiting the $20-billion proposed steel plants in Jharkhand and Orissa because of delay in acquiring land. Lakshmi Mittal, the chief of ArcelorMittal, has also mentioned that it is looking into other options as ...

Tata Steel, which is planning to acquire land in Kalinganagar of Orissa to set up Rs.21,000-crore plant, mentioned that the acquisition is almost complete. It also mentioned that the work on the development of the steel plant is expected to kick off by December 2009.
 
"We hope that the ...

Tata Steel Ltd, which is a part of Tata group, has disclosed on Monday that the sales of the steel manufactured by the company have witnessed a growth of 25% during the month of August. 09. The total sales for the month of August stood at 492,000 tonnes in August.
 
Tata Steel occupies the ...

The Union Minister for Steel, Virbhadra Singh, has disclosed that a Memorandum of Understanding will be signed between the steel companies and National Mining Development Corporation (NMDC) so that limestone is supplied by the latter.
 
"The NMDC will soon sign MoUs with end-users, ...

SAIL is ready to own the 2,028-hectare block in the Rowghat iron ore mine deposits in Chhattisgarh to feed its flagship unit, the Bhilai Steel Plant. The final clearance has been has obtained from the environment and forest ministry.
 
"Bhilai Steel has obtained the final clearance from ...

According to an industry lobby report, steel projects worth Rs.125, 940 crores ($26.4 billion) is still pending in Jharkhand as the State Government has not yet given the approval.
 
The report by the Associated Chambers of Commerce and Industry (Assocham), said: "Steel players like ...

Usha Martin Limited, the speciality wire rope and steel manufacturer, has reported a net profit of Rs.32.03 crore for Q1 of 2009-2010 which is almost 50% of the Rs.65.08 crore for the corresponding period last year.
 
"On consolidated basis, profit is down by almost 60% as our wire rod ...

A dip of 25% in the net profit for the Q1 of 2009-10 has been reported by Jindal Steel and Power on Wednesday totalling the profits to Rs. 300 crore. The 2008-09 q1 net profit was Rs. 402.3 crore.
 
The total income has witnessed a dip by 16% to Rs.1,592.6 crore from Rs.1,902.7 ...

Tata Steel, one of the world's leading steel companies, on Monday raised $500 million on the London Stock Exchange, which is the largest ever Indian Global Depository Receipt (GDR) offering in London. ...

The public steel manufacturer, Steel Authority of India (SAIL), has plans to reduce its workforce due to which about 20,000 will be laid off by 2012-end.
 
"SAIL has been rationalising its manpower on an ongoing basis. It is being done through normal superannuation of employees on ...

The use of steel in India rose by 5.2% to 12.83 million tonnes in the first quarter of this fiscal from 12.2 million tonnes in the same period during 2008. This can be considered as a sign of economic recovery.
 
The steel production has increased by 3.4% to 13.98 million tonnes during ...

Labour trouble is brewing at ArcelorMittal Dofasco, the Canadian subsidiary of the global steel giant, with its slag-recycling workers on the warpath over contract terms.

The steelworkers at the company's plant at Hamilton near Toronto are employed by MultiServ, a Pennsylvania-based US company, ...

Steel Authority of India Ltd (SAIL), the national steel manufacturer, on Thursday announced the "SAIL HR Excellence Awards" for 7 Indian manufacturing firms including Tata Motors and Jindal Steel.
The SAIL has instituted the award to commemorate its 50th year of production.


The ...

According to Steel Minister Virbhadra Singh, the steel industry, supported by domestic demand and the government's increased infrastructure spending, will witness a growth this fiscal. 
"The industry will see a major recovery this year and will grow at six-eight percent," Singh ...

Despite the current uncertainty in the global steel industry, Japan's Kobe Steel has set up a subsidiary in Kolkata to market machinery and related equipment. 


According to the Kobe Steel's industrial machinery division director, Kazuhide Naraki, the company had this plan two years back. ...

The Punjab State Electricity Board (PSEB) has slapped steel makers located here with a week-long ban on operating furnaces, citing power shortage.

Steel makers told IANS many units had to stop operations due to the ban that came into force June 25.

"Our business has stopped for a week ...

The government of India has levied anti-dumping duties on certain types of stainless steel that are shipped in from countries like China and Japan. The anti-dumping duties were imposed after finding that certain types of imported steel are landing at below the normal value in the country's port. ...

The future of ArcelorMittal’s green-field steel plant in Orissa remains uncertain as the world’s largest steelmaker is delaying payment to the state government for acquisition of 1,500 acres of land meant for the facility. ArcelorMittal has already taken over part of the land needed for ...

State-owned steel major Steel Authority of India Ltd (SAIL) has acquired the defunct Malvika Steel for Rs 209 crore. At one point of time world's number one steel company ArcelorMittal was chasing behind the perennially sick company. Talking on this occasion minister of steel Ramvilas Paswan said ...

The Steel Authority of India (SAIL) has announced to set up its steel plant in Kangra district of Himachal Pradesh. This information was divulged by Himachal Pradesh Chief Minister Prem Kumar Dhumal on Friday (January 24). The proposed steel plant will come at Gangath village of Kangra district. It ...

Kolkata-based Jai Balaji Industries Ltd has announced to set up its new integrated steel, cement and power plant in eastern West Bengal state. The chairman and the managing director of the steel manufacturing company said that construction work of the new project will get kick-started by the end of ...

Lakshmi Mittal-led ArcelorMittal has been levied with a fine of about 302 million euros ($415 million) by the French competition council. The council called Conseil de la Concurrence has imposed the multi-dollar fine on steel giant after a four-and-a-half-year probe into anti-competitive practices ...