New Delhi: JSW Steel has put on hold plans to set up a 10 million tonnes steel plant in West Bengal as it has not been able to secure long-term iron ore supplies for the Rs 35,000 crore project.
"It is stalled right now, it's on hold. Unless we are going to fix the iron ore matter, unless we have the visibility of iron ore, we can not move ahead. It's on hold," JSW Chairman and Managing Director Sajjan Jindal told reporters.
JSW is working with the Centre and state government to secure iron ore mining lease, he said, adding, long-term visibility of iron ore is required to begin construction of the plant. When asked about any timeline for the project, he said: "Nothing (is) in my control. The project is stalled at the moment."
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01:55 PM, Apr 28, 2013
The much delayed Posco mega steel plant in Odisha's Jagasinghpur district might be commissioned in 2018, the company said on Thursday. "Hoping to get the required land in this year, the first phase 8 MTPA Integrated Steel Plant may get commissioned in the early 2018," a press release issued by Posco-India said. ...
07:20 PM, Mar 21, 2013
The salary of Lakshmi Mittal, Chairman and CEO of ArcelorMittal, inched up a mere 1.78 per cent at $1.77 million last year, amid the world's largest steelmaker reporting a net loss of $3.73 billion in 2012 due to slump in demand and write downs. ...
04:27 AM, Feb 25, 2013
A few weather-beaten shipping containers, a swathe of sand and a bitterly divided village: that is all South Korea's POSCO has to show seven years after it announced plans for a $12 billion steel mill on a fertile strip in Odisha. Last week, the project took a step forward as land was taken over from farmers for the first time since 2011, and yet Posco is still a long way...
08:36 PM, Feb 10, 2013
Posco India, a subsidiary of South Korean steel major Posco on Tuesday said it is committed to its steel project in Odisha despite all the obstacles and delay. ...
03:21 AM, Nov 28, 2012
Ranchi: The Jharkhand Vikas Morcha (JVM) party workers on Monday protested outside the state Assembly demanding rehabilitation of those displaced during the construction of the Bokaro Steel Plant. One of the party workers died after the police lathicharged them as they tried to break through a barricade set up outside the Assembly. Meanwhile, earlier in the day, a JVM (Prajatantric) MLA tore off his shirt in the Assembly to press...
03:31 PM, Sep 03, 2012
Bokaro: Even as financial and medical help pours in for acid attack victim Sonali Mukherjee, justice still eludes her. It's just the beginning of a long battle ahead for her. As soon as she reached her hometown of Bokaro in Jharkhand, she went to meet the Bokaro Deputy Commissioner, demanding justice. Her family, meanwhile, has knocked on every possible door, to help secure a job for her. It approached Jharkhand...
09:14 AM, Aug 01, 2012
Visakhapatnam: The Andhra Pradesh government on Thursday ordered an inquiry in the explosion at the state-owned steel plant in Visakhapatnam which claimed 11 lives and left eight others critically injured including GM V Kalsi. The explosion occurred at the oxygen control unit near the Steel Melting Shop-II at the plant of Rashtriya Ispat Nigam Limited (RINL) on Wednesday night. Expressing anguish over the incident, Chief Minister N Kiran Kumar Reddy...
04:05 PM, Jun 14, 2012
Vishakapatnam: Nine people were killed and 10 injured in a major explosion and fire that broke out at the state-owned Vizag steel plant on Wednesday night. The explosion occurred at the oxygen control unit near the Steel Melting Shop at the plant of Rashtriya Ispat Nigam Limited (RINL). The injured have been shifted to steel plant's hospital. Officials at the spot say the fire broke out after a blast at...
07:44 AM, Jun 14, 2012
Vishakapatnam: Eight people were killed on Wednesday night in a major explosion and fire that broke out at the state-owned Vizag steel plant, security sources said. The explosion occurred at the oxygen control unit near the Steel Melting Shop at the plant of Rashtriya Ispat Nigam Limited (RINL), sources at the plant said. A technical problem at the unit was suspected to be the cause for the mishap. Sources said...
12:47 AM, Jun 14, 2012
Hyderabad: A fire broke out at a steel plant in Vizag following an explosion on Wednesday evening. There was an explosion heard just before the fire was witnessed and many are feared dead. Initial reports say the fire occurred at the melting unit of the steel plant. The cause of the fire is yet to be ascertained. The explosion occurred at the oxygen control unit near the Steel Melting Shop...
11:16 PM, Jun 13, 2012
New Delhi: Yet another setback for South Korean multinational Posco's plans to build a steel plant in Odisha. The National Green Tribunal on Friday has suspended the environment clearance given to Posco a year ago by then Environment Minister Jairam Ramesh. Ramesh had appointed a special four-member committee and had given the environment clearance even though only one member Meena Gupta had voted in favour of the project. The bench...
06:57 PM, Mar 30, 2012
The National Green Tribunal on Friday suspended the environment clearance given to Posco Steel. ...
02:01 PM, Mar 30, 2012
New Delhi: There has been a setback for India's single largest FDI investment, the showcase Posco Steel plant to be set up in Odisha. The National Green Tribunal has suspended the environment clearance given to Posco Steel. The clearance was given a year ago by the then environment minister Jairam Ramesh. The National Green Tribunal noted, "Environment clearance stands quashed, fresh terms of reference must be issued." The Green Tribunal...
12:21 PM, Mar 30, 2012
Seoul: India on Monday stepped up defence, trade and security ties with South Korea. Prime Minister Manmohan Singh, who is in Seoul for the Nuclear Security Summit, held talks with his South Korean counterpart. Reportedly, South Korea has offered to sell nuclear reactors to India. The PM sought South Korea's support for India's quest to join international non-proliferation regimes such as the Nuclear Suppliers Group and the Missile Technology Control...
10:16 AM, Mar 26, 2012
Seoul: Investment from South Korea is a "priority" for India, visiting Prime Minister Manmohan Singh said on Monday, adding that the government was taking "proactive" steps improve the business climate and move forward with the Posco mega steel plant project in Orissa. "Investment from Korea is a priority for India. We will take proactive steps to address investor grievances and improve the business climate in the country. Many states of...
09:54 AM, Mar 26, 2012
Bhubaneswar: Odisha government on Friday shifted a top official over the clashes near the Posco site in which one person was killed. Priyabrat Patnaik was transferred from the post of chairman-cum-managing director of the Industrial Infrastructure Development Corporation (IDCO), state chief secretary BK Patnaik told reporters. He has been posted as additional chief secretary, pension and public grievances department. Pradeep Jena, secretary in Panchayati Raj department, has been given additional...
03:38 AM, Dec 17, 2011
Paradip: A man was killed and 25 others were injured on Wednesday in a clash between anti-Posco brigade and a private contractor over construction of a coastal road linking the steel plant site near Paradip. Jagatsinghpur SP S Devadutt Singh said crude bombs and other weapons were used by the clashing groups and a person, identified as Dijabar Swain (30) of Kujanga area, died in the violence. Two others, who...
09:12 PM, Dec 14, 2011
Mumbai: JSW Steel, India's No 3 producer, said CBI visited its key plant in Karnataka on Monday morning to seek information regarding iron ore purchases, further hurting sentiment in the beleaguered company. JSW's shares, which have lost more than half their value this year, fell to a more than two-year low on Monday on concerns regarding the police enquiry and a rating downgrade by a US investment bank. "Till the...
05:12 PM, Oct 03, 2011
Paradip: Fresh efforts by officials to persuade villagers to allow resumption of work at the proposed Posco plant site near here failed, paralysing project related activities for the seventh day on Monday. Discussions were held with residents of Nuagaon in a bid to persuade them to give up their protest against tree felling, ground levelling and other works, Additional District Magistrate (Paradip), Surjit Das said. Three officials of Jagatsinghpur district...
07:04 PM, Aug 22, 2011
