Canada-based Essar Steel Algoma, part of $5-billion Essar Steel Holdings (ESH) has informed that the company is exploring the options to pump Rs 1,200 crore in expanding its steel capacity and building a power plant.
The conglomerate will also upgrade air pollution control technology in the coming 18 months.
The expansion would be primarily funded through internal accruals.
It is a day for the nation to rejoice as Steel Tycoon L N Mittal, the ArcelorMittal CEO has been elected as the Chairman of the World Steel Association, a representative body which includes 180 steel producers all over the world.
The announcement was made on the first day of World Steel Association’s 42nd annual conference in Washington. Mittal who earlier also held the position in its executive committee now has been presented with the most coveted position in the body.
Aaress Iron & Steel Ltd (AISL), the unit of Baldota Group, is setting up a new Rs 4,700-crore steel plant at Koppal, in northern Karnataka to cater the needs of the automobile industry and other high-value added engineering segments.
The project will be executed in two phases and the company aims to start production by mid-2010 with an initial capacity of 1.2 million tones annually. The total capacity of the plant is expected to be around 5 metric tones.
JSW Steel has decided to further cut prices of its various steel products. It is the second time in the recent months when the company slashed the prices of its products. The prices are slashed due to decrease in demand in the international market. The global financial crisis also contributed in slashing of the price.
JSW Steel has decided to further cut prices of its various steel products. It is the second time in the recent months when the company slashed the prices of its products. The prices are slashed due to decrease in demand in the international market. The global financial crisis also contributed in slashing of the price.
Essar Steel is planning to invest 160 million US dollar to increase the capacity of Algoma Steel. Algoma Steel Inc is a106-year-old Canadian steel company which was acquired by Essar Steel in June 2007 for Canadian $1.85 billion. The company changed its name to Essar Algoma Steel Inc to represent new ownership.
In the expansion plans, the company would re-start an idle blast furnace, plate heat-treatment and a second ladle metallurgy furnace in the financial year 2009.
(ESH) has informed that the company is exploring the options to pump Rs 1,200 crore in expanding its steel capacity and building a power plant. 
ArcelorMittal CEO has been elected as the Chairman of the World Steel Association, a representative body which includes 180 steel producers all over the world.
Aaress Iron & Steel Ltd (AISL), the unit of Baldota Group, is setting up a new Rs 4,700-crore steel plant at Koppal, in northern Karnataka to cater the needs of the automobile industry and other high-value added engineering segments.
second time in the recent months when the company slashed the prices of its products. The prices are slashed due to decrease in demand in the international market. The global financial crisis also contributed in slashing of the price.
Algoma Steel. Algoma Steel Inc is a106-year-old Canadian steel company which was acquired by Essar Steel in June 2007 for Canadian $1.85 billion. The company changed its name to Essar Algoma Steel Inc to represent new ownership.
