User: subbu Topic: Companies
Category: POSCO
Last updated: May 27 2018 03:50 IST RSS 2.0
 
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Cheaper imports to deliver future shocks to merchant miners 21.5.2018 Latest News
Domestic iron ore producers are feeling the pinch of a rising preference for captive mining among steelmakers and competition from cheap imports
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JSW Steel may go ahead with 12 mtpa Odisha steel project sans captive port 10.5.2018 Business Standard: News Now
Sajjan Jindal led JSW Steel might have to settle for its 12 million tonne mega steel mill proposed in Odisha without a captive port project. The port project, part of the steel maker's consolidated investment package, was considered key to its operations in the state. On the captive port, JSW Steel had pledged an investment of Rs 20 billion and chose Jatadhari Muhan, a site located 13 km from the limits of the major port at Paradip.The Odisha government is not keen to allow private players to build captive ports. Instead, the government will award identified port sites through competitive bidding so that they can be developed as commercial ports, said an official source in the know."In case of JSW Steel, we are not in agreement with their idea of a captive port. What we can offer as an alternative to the company is a captive jetty. But, a decision on the captive jetty is not firmed up yet", the source added.The Odisha government has roped in Mecon Ltd to study the feasibility of the ..
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Global players cite instability, fight shy of buoyant Indian steel market 26.4.2018 Business Standard: News Now
Some, like ArcelorMittal, Sumitomo Metal may enter only via insovency route, as Make in India, 300 mn tonne production target fail to impress
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Cabinet nod for renewing iron ore export to Japan, S.Korea 25.4.2018 General News
The Union Cabinet on Wednesday approved renewal of long-term agreements for export of iron ore to Japan and South Korea through the state-run trading company MMTC, according to an official statement.
Steel mills in Japan, South Korea set to get high quality iron ore from India 25.4.2018 Hindu: Industry
The Union Cabinet has approved long-term agreements for a five-year period beginning April 1, 2018.
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Cabinet approves Long Term Agreements for supply of iron ore to Japan and South Korea through MMTC Limited 25.4.2018 General News
Details:
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Govt approves pacts for supply of iron ore to Japan, S Korea through MMTC 25.4.2018 General News
The Union Cabinet today approved a long-term agreement for export of iron to Japan and South Korea through state-owned trading firm MMTC, an official release today said. "Cabinet approves renewal of long-term agreements for supply of iron ore (lumps and fines)...to Japanese steel mills and POSCO, South Korea for another five years (from April 2018 to March 2023) through MMTC," it said. The range of quantity of iron ore to be exported would be 3.8 million tonnes per annum to 5.5 million tonnes per annum, it added. The supply of iron ore, although of smaller quantities, has been a core element in the bilateral ties with Japan and South Korea. MMTC will be supplying iron ore of grade (plus) 64 Fe, or high grade content, to Japanese and Korean steel mills from NMDC's Bailadila mines in Chhattisgarh. It added that the existing policy of single agency operation and exports through MMTC, with trading margin of 2.8 per cent of FOB (free on board) price, shall be continued.
Cabinet approves Long Term Agreements for supply of iron ore to Japan and South Korea through MMTC Limited 25.4.2018 Govt of india: PIB
The Union Cabinet Chaired by Prime Minister Shri Narendra Modi has approved the renewal of Long Term Agreements (LTAs) for supply of iron ore (lumps and fines) of grade +64% Fe content to Japanese Steel Mills (JSMs) and POSCO, South Korea for another five years (i.e.
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Govt to roll out red carpet to foreign players for steel projects in India 22.4.2018 Latest News
No foreign player has yet applied for any greenfield project but such players are watching the market, Steel Secretary Aruna Sharma said
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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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CEO of South Korean steelmaker POSCO to step down early 18.4.2018 General News
SEOUL (Reuters) - The chief executive of South Korean steelmaker POSCO will step down before his term ends in 2020 as he is keen for a younger person to lead the firm, the company said on Wednesday.
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Teenage girl travelling with her brother gang raped in MP 29.3.2018 General News
A 17-year-old girl travelling with her brother was allegedly abducted and raped last night by at least two persons in Waraseoni area in the district, police said today. Police today arrested Pramod Bisen (24) and Mahesh Jaitwar (23) and took into custody a minor boy in connection with the incident while efforts are on to trace another accused, identified as Lokesh Bopcha (24), said Superintendent of Police Amit Sanghi. The incident occurred when the girl was returning her home in Siyartola village on a motorcycle driven by her brother from Bodalkasa village after attending a marriage. The SP said the accused allegedly stopped the motorcycle when it was passing a forested area, and demanded money from them. "They assaulted the girl's brother. Later, two of the accused pinned down the girl's brother while two others raped her in a dry culvert," he said. The officer said the accused have been booked under various sections of the IPC for gang-rape, kidnapping, and ...
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Tourism project to conserve Kozhikode biodiversity 24.3.2018 General News
A tourism project to conserve the mangroves, biodiversity, local resources and traditional jobs in Kozhikode district was launched here today. State Minister for Tourism andCo-operation Kadakampally Surendran inaugurated the 'Jalaayanam tourism project'at the Kambilipparambu Mambuzha Farm Tourism Centre. Speaking on the occasion, he said five packages would be offered under the project. They are: 'Know Kadalundi', a full-day package, offering country boat rides, taking tourists closer to the mangrove forests, the traditional lake and marine resources. 'Feel Mohabbath with Mambuzha' offers tourists a day-long visit to centres where mats, earthen pots, brass iron box are manufactured. The 'Chaliyar Triveni Gramayathra' would take tourists on a ride across three rivers to watch fishing. A half-day package 'Yesteryear Villages' includes a boat ride, visit to a coir-manufacturing unit, coconut tree- climbing, live fishing, and traditional meals. The 'Connecting Culture' package
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U.S. steel import curbs could scuttle India's export ambitions: minister 13.3.2018 General News
NEW DELHI (Reuters) - India's ambition to become a major steel exporter could be disrupted by U.S. import curbs, Steel Minister Chaudhary Birender Singh said, underscoring the need for free trade.
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Global Markets: Asia extends Wall Street selloff as Trump sparks trade war fears 2.3.2018 General News
TOKYO (Reuters) - Stock markets in Asia on Friday extended a Wall Street rout as investors were rattled after President Donald Trump announced the United States would impose hefty tariffs on steel and aluminium imports, raising the spectre of a global trade war.
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Lakshmi Mittal meets Jaitley on Essar Steel bid, conveys 'serious interest' 23.2.2018 Latest News
Lakshmi Mittal, promoter of the world's largest steel making company, ArcelorMittal, said there had been no communication on any of their bid for Essar Steel. And, that he had conveyed 'serious interest' in acquiring the financially beleagured Ruia company in a meeting with Union finance minister Arun Jaitley on Friday."I think we can create value in Essar Steel with our experience," said Mittal. The meeting came two days after reports that ArcelorMittal and Numetal Mauritius had been disqualified from bidding under the insolvency resolution process.Mittal wouldn't comment on Numetal's bid. The latter stated on Friday that it had given a "compelling resolution plan" for revival of Essar Steel, which has about Rs 500 billion in dues to banks and is presently unable to pay. It was referred to the National Company Law Tribunal last year. "We have placed a well-planned bid for Essar Steel," Mittal said. "No bid was rejected by the Resolution Professional, from what we've heard."Numetal ..
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Posco-India takes Rs 656 crore impairment loss after Odisha exit 21.2.2018 DNA: Money
South Korean steelmaker Posco has taken a Rs 658.79 crore (109,248 million Korean won) impairment loss, or permanent reduction, in the value of securities of Posco-India Pvt Ltd, a regulatory filing shows. In March last year, Posco-India had requested the Odisha government to take back its 2,700-acre land provided at Paradip in Jagatsingpur district for setting up a 12-million-tonne steel project. Consequently, the state government sent a letter toPosco-India informing the land allotted to it has been cancelled. The 2005 project was billed as India's biggest foreign direct investment at that time, but it faced several delays due to a regulatory maze and protests. In 2005, Posco-India was incorporated to promote investment in steel, considering the high growth potential and rise of steel demand in India. In 2011, its role was expanded to act as the regional headquarter, and in 2015, its nature and role have been further extended to represent Posco group affiliates in India. In a notice to shareholders on ...
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JSW Steel's 12-mn-tonne plant hits land transfer roadblock from forest dept 19.2.2018 Business Standard: Companies & Industry
Same land had been okayed for Posco, but since cleareance was project-specific, JSW will have to apply afresh
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India's high-flying graphite electrode firms face curbs 19.2.2018 General News
NEW DELHI (Reuters) - Indian manufacturers of graphite electrodes used in electric arc furnaces are booming on the back of China's pollution crackdown, but soaring prices have set the companies on a collision course with government and steelmakers.
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Race to take over Essar Steel: Resolution professional opens bid 14.2.2018 Latest News
The race to take over Essar Steel entered the final phase with the submission of two bids on Monday, one by Numetal and the other by ArcelorMittal
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