New Delhi: Steel Authority of India Ltd, State-run steel manufacturer has decided to invest around Rs 1,000 crore on establishing at least three greenfield pellet plants amounting 6 million tons to raise its production capacitance to over 24 million tons by the end of the 11th Plan.

New Delhi: The Geological Survey of India (GSI) has discovered new iron ore reserves of over 22 million tonnes in Tamil Nadu and Karnataka.

The Mines Ministry sources stated that the public sector company has detected four iron ore blocks in Namakhal blocks in Tamil Nadu containing reserves of 14.03 MT of magnetite ore with Ferrous content ranging between 31 to 37 per cent,.

The purchase of Corus assisted the world’s sixth biggest steel maker, Tata Steel, to record a six-fold jump in its consolidated profit after tax (PAT) at Rs 6,388 crore for its first quarter.

Tata Steel registered a consolidated profit after tax (PAT) of Rs 1,014 crore in the corresponding period of the last year (2006). The current figures showed a growth of 6.30 times, following the acquirement of Corus.