ESSAR STEEL ORISSA LTD
Arcelor paying Rs 39,500 crore for Essar Steel and not Rs 42,000 cr: SCB counsel Kapil Sibal
Kapil Sibal argued that acceptance of Rs 39,500 crore as the bid amount by the Committee of Creditors (CoC) of Essar Steel, to which Standard Chartered Bank (SCB) was not part, is contrary to the undertaking given by ArcelorMittal to the Supreme Court.
IDBI Bank starts bankruptcy process against Odisha Slurry
This development comes at a time when Numetal, a joint venture between Russia’s VTB and Rewant Ruia has proposed to buy both Essar Steel and OSPI.
Numetal, Arcelor enter last lap in Essar Steel bid
Other contenders, including Tata Steel & Vedanta’s Anil Agarwal, pull out
ArcelorMittal and Numetal bid for Essar Steel
Both, ArcelorMittal India Private Ltd., and Numetal Ltd have deposited Rs 500 crores in the escrow account to convey their interest in Essar Steel.
Numetal buys key pipeline provider, gains edge in race for Essar Steel
The consortium that is believed to be spearheading the Ruia family’s bid to retain Essar Steel, is buying a majority stake in Orissa Slurry Pipeline India.
Coal Ministry to take action against 60 companies including Tata Steel, Hindalco and NTPC
The ministry will be sending notices this week to developers of 48 coal blocks, seeking an explanation for delay in development of mines.
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Essar Steel hopes to meet its iron ore needs from Odisha project
Ruias-promoted Essar needs uninterrupted supply of iron ore to feed its 10-million tonne (mt) integrated steel plant at Hazira in Gujarat.
Essar Power plans foray into distribution business
Essar Power plans to enter the electricity distribution business and has applied for licences in Maharashtra and Bihar.
Ruias-led Essar Power to invest $8 billion in thermal power projects in nxt 3 years
Ruias-led Essar Power has earmarked an investment of $8 billion in the next three years for setting up thermal power projects in the country.
Essar Steel Orissa Ltd charged with green violation
Though ESOL obtained environmental clearance on May 29, 2008, there is no CRZ clearance which is mandatory since the area comes under CRZ zone.
Steel companies with pellet plants to get priority in iron-ore mine allocation
The government's plan is to encourage steel plants that are building pellet plants - units that remove moisture from ores.
Orissa to renew pact signed with Posco
The Orissa government will renew the agreement signed in 2004 with South Korean major Posco, six months after its expiry.
ArcelorMittal to build small steel units in 3 states: Govt
Global steel major ArcelorMittal will build smaller plants, each of 3 million tonne capacity, in Jharkhand, Orissa and Karnataka, as per the company's investment proposals with the government.
13 industries sign MoU with Orissa govt to set up ITCs
Orissa is finally gearing up to upskill youths looking for suitable jobs in the industrial units.
Essar to commission phase-1 of 13kcr expansion next month
Ruias-led Essar Steel on Wednesday said it will commission the first phase of its Rs 13,000-crore expansion project by the end of next month.
Essar Steel plans to raise $1 bn from overseas market
Essar Steel, the flagship company of the $15-billion Essar Group, is planning to raise $1 billion (Rs 4,600 crore) from overseas markets to fund expansion in steel capacities in domestic and overseas countries.
Babies on the block hire steel veterans as poachers become the hunted
Senior execs with experience across public & private sectors are the most sought-after.
Public, pvt sectors bear brunt of Naxalite attacks
Power, mining, railways and communication have borne the brunt of Naxalite attacks.
Maoists’ hall of shame
The growing influence of Naxalites over the last few years has not only seen a jump in incidents and casualties but also taken a toll on economic activity in the affected states.
Essar Group mulls acquiring iron ore and coal mines abroad
Ruias-promoted Essar Group is scouting for iron ore and coal assets for acquisition in Africa and South America.
Essar to set up 2-mt steel plant in Bangladesh
The Ruias-promoted Essar Group has decided to set up a 2 million tonne gas-fired steel plant in Bangladesh, through a collaboration with four local partners.
Bangladeshi consortium sign deal with Indian Essar Group
A consortium of four Bangladeshi steel companies has signed a deal with India's Essar Group to set up the country's first hot-rolled steel plant.
RIL, Essar arms in race to flag pipeline space
It’s race against time for Reliance Gas Transportation Infrastructure (RGTIL) and Essar Steel for construction of their pipelines.
Steel investments to touch Rs 3 lakh cr
Steel seems to have outplayed other sectors in wooing investments, both foreign and domestic, as the sector is set to attract investment worth about Rs 3,00,000 crore within the next five years.
POSCO, Tata, Essar resent delay in Orissa
Several mega steel investors including POSCO, Tata and Essar echoed concern over delay in execution of their projects in Orissa and said the state government must act fast in removing the bottlenecks.
Essar to start construction of Orissa steel plant in Jan
The Essar group expects to start construction work of its six million tonne integrated steel plant in Orissa from January next year.
Essar Global may invest $6b in steel capacity expansion
Essar Global, the Ruias’ international holding company, is expected to invest over $6 billion over the next five years to increase steelmaking capacity to 25 million tonne, according to group director Prashant Ruia.
Essar's Orissa plans face heat
The co's plans for setting up an aluminium project in Orissa is facing opposition from locals.
Memorandum of misunderstandings
If all the MoUs signed for setting up steel projects by various Indian states mainly Orissa, Jharkhand and Chhattisgarh in the last few years have been implemented, the total capacity would have almost matched that of the newly-created Arcelor Mittal.
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