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South Asia Steel Sector News

India, Pakistan, Bangladesh - Steel News


NCLAT gives approval to JSW Steel to acquire Bhushan Power
Tue, 18 Feb 2020 00:00:00 GMT
A two-member bench headed by Chairman Justice S J Mukhopadhaya, said that JSW Steel will be immune from the acts done by the former promoters of the Bhushan Power & Steel Ltd. However, it also said that prosecution against the former promoters under the money laundering act by the Enforcement Directorate can
https://economictimes.indiatimes.com/industry/indl-goods/svs/steel/nclat-gives-approval-to-jsw-steel-to-acquire-bhushan-power/articleshow/74170027.cms


India: Creating a valued-added steel industry
Wed, 12 Feb 2020 00:00:00 GMT
India produced 106.54 million tonne of liquid steel in the last fiscal and came second in the global ranking tally. However, at the same time we were a net importer of finished steel in the last fiscal and significantly dependent on overseas supplies for value-added steels. If we keenly observe the overall steel product mix, the share of the value-added finished product is very low at 8-10%. This is not only a major impediment in the growth of manufacturing, heavy industry, precision
https://www.hellenicshippingnews.com/india-creating-a-valued-added-steel-industry/


SEAISI Press Release
Wed, 12 Feb 2020 00:00:00 GMT
Coronavirus impact: Indian steel sector on high alert
http://www.seaisi.org/news_details.php?nid=9640


Steel companies to pay more for ore as mines get costly
Tue, 11 Feb 2020 00:00:00 GMT
JSW Steel, which has been more aggressive in the auctions than the likes of Tata Steel and Arcelor-Mittal and has bagged four mines, is expected to be better off after the upcoming auction. It also said that the difference between domestic and imported ore prices will come down after the
https://economictimes.indiatimes.com/industry/indl-goods/svs/steel/steel-companies-to-pay-more-for-ore-as-mines-get-costly/articleshow/74074023.cms


JSW Steel keen on acquiring more iron ore mines in Odisha
Fri, 07 Feb 2020 00:00:00 GMT
In January, a news agency report had said the Utkal Steel Project at Jagatsinghpur in Paradeep would cost Rs 53,700 crore. Reports earlier had said JSW had not yet received the 2,980 acres it was seeking for the integrated steel
https://economictimes.indiatimes.com/industry/indl-goods/svs/steel/jsw-steel-keen-on-acquiring-more-iron-ore-mines-in-odisha/articleshow/73998070.cms


EU Finished Steel Imports in 9 Months Dip by 14% YoY
Tue, 04 Feb 2020 21:31:00 GMT
EUROFER latest report showed that total imports of steel products into the EU28 ... but with steeper falls in imports, such as Brazil, India, Taiwan, and South Korea. The only exceptions were
https://steelguru.com/steel/eu-finished-steel-imports-in-9-months-dip-by-14-yoy/555698&c=8724342723596916871&mkt=en-gb


SEAISI Press Release
Fri, 31 Jan 2020 00:00:00 GMT
India seeks WTO comments on proposal to bring more steel items under quality control
http://www.seaisi.org/news_details.php?nid=9578


Bidder JSW Steel a related party, can't be given immunity: ED ...
Thu, 30 Jan 2020 00:00:00 GMT
Bhushan Powers former promoters are facing charges of financial irregularities and money laundering. In an affidavit filed in the National Company Law Appellate Tribunal, the ED said JSW and Bhushan Power are related parties through a joint
https://economictimes.indiatimes.com/industry/indl-goods/svs/steel/bidder-jsw-steel-a-related-party-cant-be-given-immunity-ed-to-nclat/articleshow/73753121.cms


JSW Steel arm completes sale of 39% stake in Georgian JV firm
Wed, 29 Jan 2020 00:00:00 GMT
JSW Steel (Netherlands) B V has completed the sale of the...39 per cent stake held in Geo Steel LLC to Georgian Steel Group Holdings Ltd, the steel firm said in a filing to
https://economictimes.indiatimes.com/industry/indl-goods/svs/steel/jsw-steel-arm-completes-sale-of-39-stake-in-georgian-jv-firm/articleshow/73739454.cms


NCLAT asks investigative agencies to clarify over JSW Steel's ...
Thu, 16 Jan 2020 00:00:00 GMT
A three-member NCLAT bench headed by Chairperson Justice S J Mukhopadhaya asked the agencies to file their reply affidavits by January 20 stating whether after insertion of section 32 A in the Insolvency and Bankruptcy Code (IBC) last month, JSW Steel has immunity from the alleged fraud committed by the previous BPSL
https://economictimes.indiatimes.com/industry/indl-goods/svs/steel/nclat-asks-investigative-agencies-to-clarify-over-jsw-steels-immunity-in-bpsl-matter/articleshow/73305295.cms


NCLAT seeks clarity from govt, agencies on JSW Steel immunity
Mon, 13 Jan 2020 00:00:00 GMT
ED had in October last year attached Bhushan Power and Steels Rs 4,025-crore worth of land, buildings, plant and machinery in Odisha in a case related to the alleged diversion of bank funds, stalling the implementation of JSW Steel's Rs 19,700-crore resolution
https://economictimes.indiatimes.com/industry/indl-goods/svs/steel/nclat-seeks-clarity-from-govt-agencies-on-jsw-steel-immunity/articleshow/73235043.cms


Govt taking steps to meet input challenges in steel sector: SAIL ...
Sat, 21 Dec 2019 00:00:00 GMT
Issues include iron ore allocation, coking coal crunch and high cost of producing steel in India
http://www.business-standard.com/article/companies/govt-taking-steps-to-meet-input-challenges-in-steel-sector-sail-chairman-119122100858_1.html


ArcelorMittal, Nippon Steel complete acquisition of Indias Essar ...
Thu, 19 Dec 2019 23:28:00 GMT
For many years, AM/NS has been investing in countries like the U.S., Brazil and Japan. Its India plans include an intention to increase finished steel shipments to 8.5 mtpa over the medium term, The
https://agmetalminer.com/2019/12/20/arcelormittal-nippon-steel-complete-acquisition-of-indias-essar-steel/&c=16719058303833149782&mkt=en-gb


NCLAT dismisses ArcelorMittal plea over EPC Construction
Mon, 16 Dec 2019 00:00:00 GMT
ECIL's Committee of Creditors (CoC) had rejected ArcelorMittal India's bid and had voted in favour - with a majority of 73.14 per cent - of the resolution plan by Mauritius-based Royale Partners Investment Fund
https://www.moneycontrol.com/news/business/nclat-dismisses-arcelormittal-plea-over-epc-construction-4735901.html


ArcelorMittal completes acquisition of Essar Steel
Mon, 16 Dec 2019 00:00:00 GMT
According to a release, the company has also established a joint venture with Nippon Steel called ArcelorMittal Nippon Steel India (AM/NS India), which will own and operate Essar
https://www.moneycontrol.com/news/business/arcelormittal-completes-acquisition-of-essar-steel-4735151.html


NCLAT dismisses ArcelorMittal plea over EPC Construction
Mon, 16 Dec 2019 00:00:00 GMT
ArcelorMittal India, subsidiary of the global steel major, had challenged it before the NCLAT contending that the action of the CoC is vitiated by procedural irregularities rendering illegal approval. The steel major has contended that the resolution plan submitted by it was ex facie a better resolution plan selected by the
https://economictimes.indiatimes.com/industry/indl-goods/svs/steel/nclat-dismisses-arcelormittal-plea-over-epc-construction/articleshow/72774693.cms


A variety of options for revival of Tuwairqi Steel Mills
Sun, 08 Dec 2019 19:07:00 GMT
ISLAMABAD: Tuwairqi Steel Mills Limited (TSML) had been established in Pakistan in 2008 and could not be put into operation due to a gas supply dispute. TSML expected gas supply at an
https://tribune.com.pk/story/2113912/2-variety-options-revival-tuwairqi-steel-mills/&c=16508630779199219425&mkt=en-gb


Arcelor entry will energise India's steel sector: Pradhan
Fri, 22 Nov 2019 00:00:00 GMT
ArcelorMittal, the world's biggest producer of the alloy, is entering India at a time when the sector is going through a lean phase, facing a demand slump. Other steelmakers shared Pradhans sentiments about ArcelorMittals entry into India. ArcelorMittals presence will bring in new technology, and have a longer-term impact on prices and the steel product
https://economictimes.indiatimes.com/industry/indl-goods/svs/steel/arcelor-entry-will-energise-indias-steel-sector-pradhan/articleshow/72179626.cms


ArcelorMittal aims to complete Essar Steel acquisition by 2019-end
Tue, 19 Nov 2019 00:00:00 GMT
ArcelorMittal India Private Limited's (AMIPL) resolution plan for Essar Steel India Limited (ESIL') has been unconditionally approved by the Supreme Court of India and the approval of AMIPL's resolution plan is the final procedural step in ESIL's corporate insolvency process, the company said in a
https://www.moneycontrol.com/news/business/arcelormittal-aims-to-complete-essar-steel-acquisition-by-2019-end-4652591.html


In a hot market, beaten-down PSU stocks get cold shoulder. Here's ...
Mon, 30 Sep 2019 00:00:00 GMT
Closure of Trading Window of Steel Authority of India Limited from 1st October 2019 till 48 hours after declaration of financial results for the quarter ended 30th September
https://economictimes.indiatimes.com/markets/stocks/news/in-a-hot-market-beaten-down-psu-stocks-get-cold-shoulder-heres-why/articleshow/71323428.cms


Number of news reports: 20



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