ArcelorMittal Nippon Steel India initiates feasibility study for 12-million tonnes per year steel project in Odisha

ArcelorMittal Nippon Steel (AM/NS) India along with the Odisha government has initiated a feasibility study for its proposed 12 million tonne per annum (MTPA) integrated steel plant in Kendrapara district of the state. In March 2021, AM/NS India had signed a memorandum of understanding (MoU) with the Odisha government for setting the greenfield project in Kendrapara with an investment of Rs […]

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India’s Odisha state says ArcelorMittal to invest Rs 50,000 crore for a new steel project

Billionaire Lakshmi Mittal is revisiting a plan to set up a large greenfield steel plant in the mineral-rich Odisha, according to the state government. ArcelorMittal-Nippon Steel India (AM/NS India), a 60:40 joint venture between world’s largest steelmaker ArcelorMittal and Japan’s Nippon Steel inked an agreement with the Odisha government to set up a 12 million […]

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Coal India to invest in 26 new projects in partnership with private companies

Coal India plans to invest Rs 1.43 lakh crore in 26 projects in new business areas. The new business areas will include solar wafer manufacturing, a greenfield aluminium project along with brownfield aluminium projects in a joint venture with NALCO, solar generation projects, and thermal power plants. CNBC-TV18 reported that the company has received approvals […]

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Odisha emerging as an ideal investment destination for food processing industry

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With a larger objective of taking local food products with specific brands to the global market, the Odisha Government is giving a major boost to large number of micro unorganized food processing units within the state for development under the PMFME (PM Formalization for Micro Food Processing Enterprises) scheme.   Addressing a webinar titled ‘Investment Opportunities in […]

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India’s mines ministry plans stern measures to streamline iron ore supply

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With shortfall in production and supply of iron ore from a large number of mines auctioned before expiry of leases on March 31, 2020, India’s mines ministry has proposed amendment in Minerals (Other than Atomic and Hydro Carbons Energy Minerals) Concession Rules (MCR), 2021 which prescribes stricter conditions against defaulting leaseholders. The draft amendment of […]

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Nalco plans Rs 30,000-cr investment for expansion, diversification by FY28

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State-run aluminium maker Nalco will invest around Rs 30,000 crore by financial year 2027-28 on various expansion and diversification plans. Of this proposed investment, the company will spend over Rs 7,000 crore on a fifth refinery, development of Pottangi bauxite mines and transportation and Utkal D&E coal mines. The remaining Rs 22,000 crore will be […]

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Rise in fuel sales towards the last few months in 2020 indicates economic recovery: Indian Oil

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Despite disruptions in commercial activities due to the COVID-19 crisis, sales of motor spirit and diesel have increased during 2020, which indicates a revival of the economy, Indian Oil Corporation (IOC) said last week. During 2020, sales of motor spirit have increased by 108 per cent and diesel by 96 per cent over the previous year, […]

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NTPC declares Dulanga coal mine in Odisha commercially operational

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State-owned power giant NTPC on Monday said its Dulanga coal mine is commercially operational from October 1, 2020. “…based on achievement of approved norms and due approval; Dulanga Coal Mine (in Odisha) of NTPC Limited, having an ultimate peak rated annual capacity of 7 million tonnes Per Annum, is declared commercial operation from October 1, 2020,” a […]

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