Steel Authority of India (SAIL) has entered into agreement with Kerala's Steel Complex. Under the new agreement with the government of Kerala, SAIL will acquire 50 percent stake in state-run Steel Complex for Rs 83.8 million (Rs 8.38 crore). After the acquisition, the Kerala-owned Steel Complex ...

World's largest steel manufacturing company, ArcelorMittal has decided to cease the operations of two of its steel plants in the US. The two plants are in Lackawana in New York and at Hennepin in Illinois. About 550 employees of both the plants will become jobless after the shut down. As per ...

The largest steel manufacturing company of the world, ArcelorMittal has decided to slash 800 jobs in Belgium. The company is retrenching about 9000 jobs worldwide with 6000 employees form Europe alone. The announcement of worldwide slashing was made by the company last month. According to a ...

Tata’s Steel unit Corus has urged the government of Netherland to subsidize a reduction in work hours of staff equivalent to a cut in 1,100 full-time jobs, a company spokesman said on Tuesday (December 02). Corus, based at Ijmuiden near Amsterdam, employs 11,300 workers in the ...

The ongoing global economic slow down has forced steel-making giant ArcelorMittal to take up the decision of cutting 9,000 jobs across the group worldwide. According to a statement of the company, the cuts will reduce the costs by one billion dollars. The steel company is reported to be facing ...

The World Steel Association (worldsteel) has elected Lakshmi Niwas Mittal as its chairman on October 6, 2008. This decision was taken by the board of directors of Worldsteel at a meeting held in Washington. Mittal will serve as the Chairman of Worldsteel for a period of one year.  Besides ...

SAIL (Steel Authority of India) and L&T (Larsen and Toubro) have signed a MoU (Memorandum of Understanding) for Joint Venture to develop, manage and own captive and independent power plants. The JV firm will develop a 1,600 mw (2 X 800 mw) Greenfield coal- based power plant. There would be use ...

Officials from Tata BlueScope Steel on September 19, 2008 announced that the company has forayed into the retail segment with an array of color-coated steel products. Tata BlueScope Steel happens to be a joint venture (JV) between Tata Steel of India and BlueScope Steel of Australia. Hakimuddin ...

An official from the Kolkata-based Jai Balaji Industries informed on September 18, 2008 that the firm is planning to set up a steel, cement and power plant at Purulia. The official added that the company will start working on this project this November provided the state government gives them the ...

Reliance Infrastructure, a company under the Reliance-Anil Dhirubhai Ambani Group (R-ADAG), said on Monday, September 15, 2008 that it will be spending Rs 400 billion in Jharkhand for setting up a 12-million-tonne per annum greenfield steel plant. State Industries Sectary KK Khandelwal has ...

The foundation stone for the Rs.120-billion integrated steel plant at Nagarnar village of Bastar district in Chattisgarh was laid jointly by steel minister Ram Vilas Paswan and Chhattisgarh chief minister Raman Singh on Wednesday, September 3. This steel plant belongs to the National Mineral ...

Sajjan Jindal’s JSW group decided to build a sea port some where else in Orissa-Bengal border than building a deep sea port which had to be constructed under an agreement with Indian government. Talking about company’s decision Sajjan Jindal said that company had looked at locations ...

Steel manufacturer Prakash Industries declared on Friday, July 4 that it is going to invest Rs 485 Crore for constructing a cement and a clinker factory in Chhattisgarh. In a filing to the Bombay Stock Exchange, the Prakash Industries mentioned that it inked a Memorandum of Understanding (MoU) for ...

ArcelorMittal which accounts for about ten percent of the world’s steel output has a new Chairman now. Lakshmi Mittal, the former Chief Executive Officer (CEO) of ArcelorMittal has been instated as the Chairman of the company. The new position will give Mittal more powers over the company. ...

Arcelor Mittal, world’s largest steel group, revealed on Saturday, May 10, 2008 that it has finalized the sale of a steel mill in the United States. The steel manufacturing giant reported that deal has been struck in 810 million dollars (525 million euro). Arcelor Mittal has sold the US steel ...

The world’s biggest steel-manufacturing company ArcelorMittal owned by UK-based Indian billionaire Lakshmi Niwas Mittal, it is being reported, is on a takeover spree. This time around, it is acquiring a stake in China\'s Angang Steel Company that the ArcelorMittal is interested in. Media ...

The Steel Authority of India (SAIL) will not be hiking the costs of its steel products in the coming two to three months. Due to the prevailing inflationary conditions in India, the government has asked this prominent public sector steel-making company to cut the prices. By the end of March, ...

To check the high prices of steel, the Cabinet Committee, in its scheduled meeting on Tuesday (15th April), is expected to take some hard steps. It is expected the government is going to stop the export of steel and lower the excise duty on metal and their alloys.
 
The government hopes that ...

The Indian Government in an attempt to curb the rising price of iron ore and steel, called separate meetings with iron ore and steel producers respectively. This move of the government was undertaken on account of inflation touching a six per cent figure. The ever increasing price of iron ore and ...