Latest news with #DirectReducedIron
Business Standard
21-06-2025
- Business
- Business Standard
Lloyds Metals commissions 4 MTPA pellet plant and 85 KM slurry pipeline in Maharashtra
Strategic projects strengthen forward integration and improve operational efficiency. Lloyds Metals and Energy has announced the successful commissioning of two key infrastructure projects that mark a major leap in its operational capabilities and long-term growth strategy. The company has commissioned a 4 million tonnes per annum (MTPA) pellet plant at Konsari, Maharashtra, and an 85-kilometre iron ore slurry pipeline connecting its Hedri mine to the new plant. These projects are expected to significantly enhance Lloyds Metals' integrated value chain, optimize logistics, and reduce production costs. The pellet plant, which began operations after receiving environmental clearance in November 2023, was constructed over a period slightly longer than the originally planned 18-month timeline. Despite this, the project is considered a world-class development and ranks among the largest single-configuration pellet plants in India. It also stands as the companys second major project in the Gadchiroli region in the last two years. Designed to convert iron ore fines into high-quality pellets for steelmaking, the Konsari plant complements the companys existing mining operations and aligns with its planned capacity expansions. It is expected to drive margin improvement in the medium term by enabling value addition and better resource utilization. Alongside, the 85 KM slurry pipeline, the first of its kind in Western India, has been built in record time. It creates an environmentally sustainable and cost-efficient transportation link between the Hedri mine and the Konsari plant. By reducing reliance on road transport, the pipeline is set to slash internal freight costs and lower the company's carbon footprint, while ensuring smoother material movement. Lloyds Metals and Energy currently boasts a capacity of 10 MTPA iron ore production and 0.34 MTPA Direct Reduced Iron (DRI) production along with 2 MTPA pellet production in alliance with Mandovi River Pellets. It also has captive power plants with a combined capacity of ~34 MW. Its operations are spread across Maharashtra, India. On a consolidated basis, net profit of Lloyds Metals & Energy declined 27.10% to Rs 201.88 crore while net sales declined 23.49% to Rs 1182.66 crore in Q4 March 2025 over Q4 March 2024. Shares of Lloyds Metals and Energy rose 0.33% to settle at Rs 1469.55 on Friday, 20 June 2025.
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Business Standard
20-05-2025
- Business
- Business Standard
Here's why Lloyds Metals & Engineers shares were buzzing in trade on May 20
Lloyds Metals & Engineers share price: Shares of Lloyds Metals & Engineers were trading higher in an otherwise weak market on Tuesday, May 20, 2025. The company's share price advanced 2.18 per cent to ₹1,360 per share on the National Stock Exchange (NSE) during intraday deals on Tuesday. The upward movement in the company's share price came after its announcement that it has signed Power Purchase Agreements (PPA) for a captive solar project with HR Godavari (HR Godavari) for 16.05 MWp / 10.70 MWac, and a captive solar PPA with HR Godavari for 70 MWp / 50 MWac. "The Share Subscription and Shareholders Agreement has also been signed between the Company, Hinduja Renewables Energy Private Limited, and HR Godavari, for the Company to subscribe to at least 26 per cent of the total paid-up equity share capital of HR Godavari," Lloyds Metals & Engineers said in a release. Earlier, on December 18, 2024, the board of directors of Lloyds Metals & Engineers had approved an investment for 100 MW of solar power sourcing through the Group Captive Route and agreed to subscribe to 26 per cent of the equity shares of an SPV to be incorporated with Hinduja Renewables. About Lloyds Metals & Engineers Lloyds Metals & Engineers is engaged in mining iron ore, manufacturing coal-based Direct Reduced Iron (DRI) / Sponge Iron, and generating power. The company is one of the largest coal-based DRI manufacturers in Maharashtra, with a production capacity of 340,000 TPA across two districts. It has a DRI plant with a production capacity of 270,000 TPA, along with a captive power plant with a 30 MW capacity in the Ghugus Chandrapur district of Maharashtra, and a greenfield plant with a production capacity of 70,000 MTPA in Konsari, Gadchiroli, with a 4 MW captive power plant. As of May 20, Lloyds Metals & Engineers has a market capitalisation of ₹70,637.66 crore on the NSE. Lloyds Metals & Engineers shares have advanced 8 per cent year-to-date. In contrast, the benchmark Nifty50 has gained 4.7 per cent during the same period. The company's shares have a 52-week range of ₹1,478 - ₹592 on the NSE. At 12:23 PM on Tuesday, Lloyds Metals & Engineers shares were trading at around ₹1,350 per share, up 1.44 per cent from its previous close of ₹1,330.90 on the NSE. Meanwhile, the benchmark equity indices were trading lower on Tuesday. The BSE Sensex was down by 318.84 points or 0.39 per cent at 81,740.58, while the Nifty50 was at 24,861.80, down 83.65 points or 0.33 per cent.
Yahoo
25-03-2025
- Automotive
- Yahoo
Hyundai Steel Announces $5.8 Billion Electric Arc Furnace-based Integrated Steel Mill in the U.S., Driving Sustainable U.S. Steel Production and Creating over 1,300 Jobs
Hyundai Steel to produce 2.7 million metric tons of steel annually at new Electric Arc Furnace (EAF)-based integrated steel mill in Louisiana, U.S. Significant investment to drive automotive steel manufacturing and reduce supply chain carbon emissions in the U.S. Commercial production of automotive steel plates targeted for 2029, ensuring stable, high-quality steel supply for global automakers, including Hyundai Motor and Kia Hyundai Steel builds its first overseas production base... Expansion into the U.S., where steel demand is robust, provides new growth engine WASHINGTON and SEOUL, South Korea, March 25, 2025 /PRNewswire/ -- Hyundai Steel Company has announced a significant investment of $5.8 billion to establish a new, state-of-the-art EAF-based integrated steel mill in Louisiana. Hyundai Steel's Louisiana mill will focus on the production of steel plates for the automotive industry, driving growth in U.S. manufacturing capabilities and creating over 1,300 jobs in the state, while reinforcing Hyundai Steel's commitment to sustainable steel production. The EAF-based integrated steel mill will provide an annual steel production capacity of 2.7 million metric tons, with commercial production targeted to begin in 2029. The new mill will also incorporate advanced technologies for producing Direct Reduced Iron (DRI), alongside capabilities for hot-rolled and cold-rolled steel plates. As the first EAF-based integrated steel mill in the United States to integrate all stages of steel production, from raw materials to finished products, Hyundai Steel's new plant will produce high-grade automotive steel while reducing carbon emissions compared with conventional Blast Furnace (BF) operations. Hyundai Steel is actively pursuing a joint investment initiative with Hyundai Motor Group to ensure stable capital deployment and reinforce the competitiveness of its U.S. business. In parallel, the company is evaluating equity investment opportunities with strategic partners. "Hyundai Steel's investment in an EAF-based integrated steel mill in the U.S. is anticipated to stimulate local economic growth, including the creation of new job opportunities. We plan to supply automotive steel plates not only for Hyundai Motor and Kia's strategic models but also to expand sales to U.S. automakers in the future," said Hyundai Steel President and CEO, Seo Gang-Hyun. Bold strategy for sustainable growth… Global recognition through high-end products Hyundai Steel will respond to the diverse needs of domestic and overseas customers in a timely manner by building an EAF-based integrated steel mill capable of producing high-end products, including automotive steel, in the U.S. Through localized production, the company will ensure a stable supply of high-quality, domestically produced steel plates to global automakers across America. The mill will be strategically located near Hyundai Motor Company's Montgomery, Alabama and Kia's West Point, Georgia manufacturing plants – as well as the Hyundai Motor Group Metaplant America (HMGMA) facility in Savannah, Georgia – giving it a competitive edge in supplying automotive steel. Hyundai Steel will also target markets in Latin America and Europe. The company will collaborate with global automotive partners and investors to continuously enhance innovations in research, development and production. Following successful operations at its Louisiana mill, Hyundai Steel will adopt the EAF-based integrated steel mill system at its plants in South Korea, moving towards the integration of a carbon-neutral production system. In addition, by leveraging its heightened global brand recognition, Hyundai Steel looks forward to securing new customers for steel products produced in South Korea. Hyundai Steel has more than 70 years of know-how in operating EAFs and has already produced about one million metric tons of automotive steel plates using EAF technology from 2007 to 2010. In October 2022, the company successfully completed the world's first test production of 1.0Gpa-grade carbon-reduced high-grade steel plate through EAF operations. An official from Hyundai Steel stated, "By establishing a global production base, we aim to secure a foundation for future growth and solidify our position as a steel company capable of sustainable growth." SOURCE Hyundai Steel Company Sign in to access your portfolio
