User: esg Topic: Issues
Category: KalingaNagar
Last updated: Dec 08 2018 17:26 IST RSS 2.0
 
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After Bhushan Steel buy, Tata Steel looks at Odisha expansion 20.5.2018 DNA: Popular News
Tata Steel, which is in the process of ramping up its capacity through acquisitions as well as organic route to meet the surging demand, is in talks with manufacturers who have approached the steelmaker for its metal. The firm, which is adding capacities worth Rs 60,000 crore, last week completed the purchase of debt-ridden Bhushan Steel under the Insolvency and Bankruptcy Code mechanism, which will add another 5.6 million tonne per annum (mtpa) to its production capacity of 13 mtpa. "We are in discussion with Tata Steel for an industrial park at Kalinganagar (in Odisha). The idea is that if we can get the mother plant on board, it would be able to provide the hot metal to the units which would come up within the park. We are now reaching out to downstream companies who have given us suggestions and we are working out the details and we will then discuss them with Tata Steel," Sanjeev Chopra, principal secretary, industries, Odisha, told DNA Money. Tata Steel has also announced the expansion of its ...
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Insolvency: Tata Steel to seek loan for Bhushan Steel buy 18.5.2018 Business Standard: Today
The producer is in talks with banks about a six-month bridge facility
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Tata Steel in focus after Q4 results 17.5.2018 General News
On a consolidated basis, Tata Steel reported net profit of Rs 14688.02 crore in Q4 March 2018 compared with net loss of Rs 1168.02 crore in Q4 March 2017. Net sales rose 7.05% to Rs 35737.19 crore in Q4 March 2018 over Q4 March 2017. The company received one-time exceptional gain of Rs 11376.14 crore in March quarter. The exceptional gain includes a non-cash gain of Rs 14077 crore on account of restructuring of UK pension scheme.
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Tata Steel Q4 net profit at Rs 14,688 crore 16.5.2018 General News
Tata Steel today reported consolidated net profit of Rs 14,688.02 crore for the fourth quarter ended March, driven by an "exceptional" gain of Rs 11,376 crore. It had clocked a net loss of Rs 1,168.02 crore in the same quarter last year. "The exceptional gain was Rs 11,376 crore, which includes a non-cash gain of Rs 14077 crore on account of restructuring of UK pension scheme in the March quarter," the company said in a release. The total income of the company increased to Rs 36,407.19 crore in the quarter, against Rs 35,457.06 crore in the year-ago period. The total expenses stood at Rs 32,626.42 crore, compared with Rs 31,132.02 crore. For financial year 2017-18, the steel maker reported a net profit of Rs 17,763 crore, against a loss of Rs 4,169 crore in the previous fiscal. T V Narendran, chief executive officer and managing director, Tata Steel, attributed the robust performance in FY18 on strong execution strategy, supported by favourable global demand-supply ...
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Tata Steel posts Rs 14,688 crore net profit in Q4 16.5.2018 General News
Tata Steel on Wednesday posted a consolidated net profit of Rs 14,688 crore in the quarter ended March 31, 2018, as compared to a loss of Rs 1,168 crore in the year-ago period.
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Tata Steel reports Q4 net profit at Rs 14,688 crore 16.5.2018 General News
Domestic steel giant Tata Steel today reported consolidated net profit of Rs 14,688.02 crore for the fourth quarter ended March 31, 2018. The company had clocked a net loss of Rs 1,168.02 crore in the corresponding quarter of the previous fiscal, it said in a BSE filing. The total consolidated income of the company increased to Rs 36,407.19 crore in January-March 2018, from Rs 35,457.06 crore in the same quarter of FY17. The total expenses of the company stood at Rs 32,626.42 crore during the quarter under review as against Rs 31,132.02 crore in the year-ago period. T V Narendran, CEO & MD of the company, said: "Tata Steel performance has been robust in FY18 driven by our strong execution strategy and supported by favourable global demand-supply balance. During the year, our Indian operations delivered volume growth better than the market on the back of the ramp-up at our Kalinganagar plant and the strength of our marketing network and brand equity". He said growth was broad-based
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NINL produces record 3,000 tn hot metal in single day 15.5.2018 General News
Neelachal Ispat Nigam Ltd (NINL) today said its plant in Odisha produced highest-ever hot metal of 3,001 tonnes in a single day on May 13. The Kalinga Nagar-based company is climbing new heights in production soon after completing its blast furnace capital repair, the state-run company said in a statement. The new feat comes close on the heels of NINL recording its highest-ever single-day pig iron output since inception with production of 2,772 tonne on May 12. The steel plant had produced 2,965 tonne of hot metal on the same day, sources said NINL plans to resume steel billet production with maximum capacity utilisation of the steel melting shop. It has also lined up several activities this financial year to strengthen its bottomline which includes steel billet production, operation of its captive mines and many cost optimisation schemes, the release said. These will be important landmarks for the turnaround of the integrated steel plant.
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NINL records highest ever pig iron production 14.5.2018 General News
Neelachal Ispat Nigam Limited (NINL) has recorded its highest ever single-day pig iron output since its inception with production of 2,772 ton of pig iron on May 12. The Kalinga Nagar-based integrated steel plant, with production of 2,965 ton of hot metal on the same day, also recorded its highest ever single-day hot metal production since its inception in 2002, a company release said. The earlier highest single-day pig iron production of 2,605 ton had been achieved a day before on May 11, 2018, while the previous best hot metal production at 2801 ton was recorded on October 26, 2009, the release said. Vice-Chairman and MD of NINL S S Mohanty has congratulated the NINL collective for the feat. The NINL aims to produce more than 3,000 ton hot metal per day and has immediate plans to resume steel billet production with maximum capacity utilization of the steel melting shop. The NINL has lined up several activities this financial year to strengthen its bottom line which ...
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NINL turnaround plan gets boost after capital repair 3.5.2018 General News
Neelachal Ispat Nigam Ltd (NINL) has resumed hot metal production after capital repair of the blast furnace at its Odisha's Kalinga Nagar plant, a company official said. NINL also plans to restart billet production, he said. "The landmark of the turnaround of NINL was achieved with the completion of the much-awaited category-1 extended capital repair of its 1.1 million ton blast furnace, which was followed by resumption of hot metal production," the official said. The capacity utilisation of the blast furnace will be 100 per cent and will produce around 3,500 tn hot metal per day, whereas earlier, production could reach up to 50-55 per cent capacity only, he said. "Along with production of pig iron, with the improved hot metal production, NINL plans to resume steel billet production after restarting the steel melting shop (SMS) in full capacity, which will impact the company's bottom line," said S S Mohanty, Vice-Chairman and Managing Director of NINL. With the ...
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Neelachal Ispat restarts ops, aims at 3,500 tonnes hot metal output per day 3.5.2018 Latest News
Neelachal Ispat Nigam Ltd (NINL) has resumed its blast furnace operations at Kalinganagar (Odisha) after completing capital repair work.NINL, a steel PSU jointly promoted by MMTC Ltd and two Odisha government PSUs- Odisha Mining Corporation (OMC) and Industrial Promotion & Investment Corporation of Odisha Ltd (Ipicol), aims to operate the blast furnace at 100 per cent capacity, instead of 50-55 per cent before capital repair. The steel plant has set a daily production target of 3500 tonnes per day.The public sector steel maker also had immediate plans to restart its Steel Melting Shop (SMS) to produce steel billets."Along with the production of pig iron, with the improved hot metal production, NINL plans to resume steel billet production after restarting the steel melting shop in full capacity which will impact the company's bottom line", said S S Mohanty, vice chairman & managing director, NINL."With the restarting of SMS, NINL will get further boost to its turnaround plan ...
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Steel industry stares at a speed bump with inadequate rail and road infra 30.4.2018 Latest News
Industry is worried inadequate rail and road infra will not allow to swiftly despatch finished products to consumption centres or receive raw material from mines once new capacity comes on stream
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TCS soaring m-cap: Tata Sons to benefit as IT firm enters $100-bn club 28.4.2018 Business Standard: News Now
Some of the immediate financial needs that face the company include repaying the debt of Tata Teleservices before it is merged with Bharti Airtel
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Steel handling begins at Odisha's Dhamra Port 23.4.2018 All News-IANS Stories
Steel handling at Odisha's Dhamra Port has started with the receipt of the first rack from Tata Steel's Kalinga Nagar plant by the train route, an official statement said on Monday.
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Thyssenkrupp expects finalisation of Tata Steel JV by December 2018 19.4.2018 Business Standard: News Now
CEO of Thyssenkrupp Electrical Steel (Europe) was speaking on the sidelines of the company announcing its CRGO product line in Nashik
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Having learnt from Posco episode, Odisha creates land bank for industries 18.4.2018 All News-IANS Stories
Mineral-rich Odisha, aspiring to become a manufacturing hub in India with downstream metal industries, has "learnt from the Posco experience" and prepared a GIS-based land bank of 121,000 acres for various industries, according to a top official.
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Labour-intensive shipbuilding industry employing robots to cut costs 16.4.2018 Latest News
Boosting productivity is mission critical in an industry that needs about 200 people to build one vessel and faces severe pricing pressure
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Tata Steel India posts highest ever output at 12.48 MT in FY18 15.4.2018 General News
With 12.48 million tonne (MT) production, Tata Steel India has recorded highest ever output for the fiscal 2017-18, mainly on the back of robust performance at Kalinganagar plant, according to a company official. This represents nearly 7 per cent higher output compared to 11.68 MT the company had produced in the preceding financial year. "Besides output, there were many firsts this year. It also achieved highest-ever annual sales of 12.13 million tonnes," a company spokesperson said. The company had registered a sales of 10.97 MT in financial year 2016-17. For the first time, Tata Steel achieved the landmark of 1 million tonnes of annual exports. It also registered the best automotive sales of 1.86 million tonne, the spokesperson added. The entire value chain played a role in achieving these numbers but ramping up of its Kalinganagar plant was the most crucial factor to enable the company to achieve these milestones, according to the official. At 25.39 million tonnes, the company's ...
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A literary fest with a difference 13.4.2018 Hindu: Health
People’s Literary Festival, held in Kolkata last month, means to grow into an alternative to regular lit fests
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Tata Steel sales, output decline in March quarter 13.4.2018 Hindu: Industry
Firm blames breakdown at blast furnace in Kalinganagar
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Tata Steel India production falls 4% in Jan-Mar 13.4.2018 General News
Leading steel maker Tata Steel today posted 4 per cent fall in production in India at 3.07 million tonnes (MT) for the quarter ended on March 31, 2018. It had produced 3.20 MT steel in the year-ago quarter, according to a company statement. Sales in India also fell 6.23 per cent to 3.01 MT during the January-March quarter of 2017-18 from 3.21 MT in the same period a year-ago. However, for the full 2017-18 financial year, the company registered a rise of 6.84 per cent at 12.48 MT as against 11.68 MT during 2016-17. Domestic sales also improved to 12.13 MT in 2017-18 from 10.97 MT in FY 2016-17. "Tata Steel India production improved with better utilisation at Jamshedpur works coupled with continued ramp-up at Kalinganagar in FY18. During Q4 FY18, the production and sales were impacted by an unforeseen breakdown of the Blast Furnace at Kalinganagar," the statement said. In Europe, the company's output was flat at 2.62 MT in the last quarter of 2017-18. Sales during the period fell 14.91 .
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