(PTI) Indian steel conglomerate Tata Steel on Monday announced the closure of a plant in the southern Welsh city of Newport, with a potential loss of around 400 jobs at the UK site. The Indian steel giant announced that it had clinched the sale of a Canadian and Swedish plant as part of its worldwide Cogent Electrical Steels division but, despite exploring all options, the company has been unable to find a way forward for the Orb Electrical Steels plant. “Continuing to fund substantial losses at Orb Electrical Steels is not sustainable at a time when the European steel industry is…
Author: Aruna Sharma
(PTI) State-owned engineering firm BHEL said public sector miner NMDC has restored its order worth Rs 1,395 crore awarded to the former, to set up a raw material handling system at its steel plant in Nagarnar, Chhattisgarh. In July, NMDC had sent a notice to terminate the contract awarded to BHEL for setting up the system. NMDC had given the contract to BHEL in 2011. BHEL was to complete the work till February 28, 2014. “Subsequent to the discussions, NMDC has revoked the termination of the contract and restored the original contract on August 27, 2019,” according to a BSE…
(ET) Nuclear power generation grew most rapidly in Asia, where generation increased 12%, up 56.3 TWh to 533.0 TWh, now more than one-fifth of global generation. Worldwide nuclear generation increased for the sixth successive year, reaching 2,563 Terra Watt Hour (TWh) in 2018. Nuclear power catered to more than 10% of global electricity demand according to data compiled by World Nuclear Association, an international organisation that represents the global nuclear industry. “Nuclear power reactor performance is high; world’s nuclear reactors achieved an average capacity utilisation factor of 80%, much higher than many other forms of electricity generation,” the Association said in…
(AU) भाजपा अध्यक्ष अमित शाह ने सोमवार को यहां मुख्यमंत्री देवेंद्र फडणवीस सहित पार्टी के अन्य नेताओं से मुलाकात की लेकिन सहयोगी दल शिवसेना से दूरी बनाए रखी। अपनी मुंबई यात्रा में वह मुख्यमंत्री के मालाबार हिल्स पर बने आधिकारिक आवास वर्षा में पहुंचे। पार्टी से मिली जानकारी के मुताबिक शाह का यह दौरा राज्य के भाजपा नेताओं से मुलाकात तक सीमित है और वह प्रभादेवी में बने सिद्धिविनायक के मंदिर में भी गए। रविवार शाम को शाह ने इस राज्य के सोलापुर में फडणवीस की महाजनसंदेश यात्रा के दूसरे चरण के समापन समारोह में हिस्सा लिया था। वह रात में…
(PTI) A pellet plant under the joint venture between KIOCL and SAIL will be established at the latter’s any one of the five steel plants in the country. In January this year, KIOCL had announced to enter into an agreement with SAIL to set up a pellet plant. A techno-economic feasibility study is underway for consideration of setting up of a pellet plant of suitable capacity at the premises of SAIL’s Bokaro Steel Plant (BSP) in or at any other suitable location across SAIL’s integrated steel plants, according to a report by KIOCL. However, the company did not provide any further…
(FE) As the Central Statistics Office (CSO) said the country’s gross domestic product (GDP) grew at a 25-quarter low rate of 5% in April-June with private consumption and manufacturing faltering the most in a rather broad-based slowdown, finance minister Nirmala Sitharaman on Sunday said the government was responding to the issues confronting the economy “sectorally”. Outlining the government’s approach, she asserted that, “every sector of the Indian economy, when it approaches us, we (the government) hear them out for solutions that they want and we respond to it”. She was addressing media persons here after a meeting with the officers…
(PTI) The National Company Law Appellate Tribunal (NCLAT) has rejected the oil ministry’s plea seeking USD 314 million (around Rs 2,245 crore) from insolvency-bound Videocon Industries in unpaid profit petroleum from the Ravva oil and gas fields in the eastern offshore. The ministry had on October 22 last year sent Videocon a demand notice for payment of government’s share of profit petroleum, which is calculated after all capital and operating cost is deducted from the sale of oil and gas. Videocon, which holds 25 per cent stake in Ravva oil and gas fields, had been admitted to insolvency and the resolution…
(LiveMint) A month after cutting the price of LPG (Liquefied Petroleum Gas) cylinders by over Rs,62, state-run fuel retailers on Sunday raised the price of non-subsidised cooking gas byRs.15.50. The price of non-subsidised LPG, which consumers buy after exhausting their annual quota of 12 cylinders of 14.2-kg at subsidised rates, was today hiked to Rs.590 from Rs.574.5. The monthly 25 paise per litre increase in kerosene price continued for the 26th month in a row. The new rates are with effect from today as LPG prices are revised on the first day of every month. The prices were hiked due to rise in input cost…
(FE) The Goods and Services Tax (GST) collected in August came in at 98,202 crore, the lowest in the first five months of the current fiscal, but the average monthly collection for the April-August period at Rs 1.02 lakh crore continues to be above the rate (Rs 99,083 crore) required to achieve the Centre’s Budget estimate for FY20. The August collection is the second time since April that the mop-up failed to cross Rs 1 lakh crore mark, a level where the government officials expect collections to stabilise. “During April-August, 2019 vis-à-vis 2018, the domestic component has grown by 9.11%…
(HT) The Centre’s Ujjwala scheme is likely to achieve this month the target of providing free cooking gas connections to 80 million poor households six months before the deadline set for them and its scope is likely to be expanded to cover more underprivileged families ahead of key assembly elections later this year, three officials aware of the development said. Ujjwala is among the welfare schemes widely seen to have contributed to the Bharatiya Janata Party (BJP)’s return to power at the Centre with a bigger majority in May. “PMUY [Pradhan Mantri Ujjwala Yojana] is likely to achieve its target of…