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Time of India
21-06-2025
- Business
- Time of India
HD Kumaraswamy reviews operations at Salem Steel Plant, calls for focus on profitability and capacity
Union Minister for Steel and Heavy Industries , HD Kumaraswamy , visited the Salem Steel Plant , a unit of the Steel Authority of India Ltd. (SAIL), where he reviewed its operations and discussed ways to enhance profitability and capacity utilisation. Kumaraswamy was received by the district administration and plant officials. He was accorded a Guard of Honour and planted a sapling on the premises, marking the visit's focus on sustainable practices. 'Steel is not just a material, it is the backbone of national development. From infrastructure to innovation, our goal is growth with responsibility,' he said during the visit. The visit aligns with Prime Minister Narendra Modi 's national vision of increasing India's steel production capacity to 300 million tonnes by 2030, achieving Net Zero emissions by 2070, and supporting the broader goal of building a developed India by 2047. Steelmaking process Kumaraswamy toured several units in the plant, observing the production cycle from scrap processing to slab casting. He visited the scrapyard, Steel Melting Shop , Electric Arc Furnace (EAF) , and slab caster , and observed operations involving the torch cutting machine and cold rolling mill. 'The level of technological sophistication and discipline I've seen here is commendable. This plant reflects the true spirit of Make in India,' the Minister stated. The EAF-based production process at Salem is part of a cleaner steelmaking approach aimed at reducing emissions in line with India's climate targets. Discussions on strategic upgrades and speciality steel The Minister also reviewed the plant's output of stainless steel products, including pipes, railway wagons, submersible pump components, coin blanks, and domestic LPG cylinder sheets. These are used across various sectors such as infrastructure, railways, defence, and energy. 'The finished products emerging from this plant touch millions of lives every day from homes to industries,' Kumaraswamy said. In a review meeting attended by the Chairman and Managing Director of SAIL, Joint Secretary (Steel), and the Executive Director of the Salem Plant, the Minister discussed plans to enhance the plant's focus on speciality steel. These products are used in applications such as defence, railways, aerospace, and engineering. 'We are committed to revitalising this strategic asset. Speciality steel is the future, and Salem Steel Plant can become more cost-efficient by using renewable energy including solar and wind. There should be full capacity utilisation and deciding on the final product mix,' he added. The Minister also met with labour union representatives and assured them of action on their concerns.
Time of India
21-06-2025
- Business
- Time of India
SAIL's Salem steel plant to adopt renewable energy, expand speciality steel output: Kumaraswamy
New Delhi: Union minister for steel and heavy industries H D Kumaraswamy on Thursday reviewed the operations of the Salem Steel Plant, a unit of Steel Authority of India Ltd (SAIL), and emphasised the need to increase capacity utilisation, expand output of speciality steel and explore renewable energy options to enhance cost efficiency. The minister, during his visit, witnessed the complete steelmaking process including scrapyard operations, steel melting through Electric Arc Furnace (EAF), slab casting and cold rolling. He was also briefed on the plant's contribution to producing stainless steel used in railways, construction, LPG cylinders, pump components and other critical infrastructure sectors. 'Steel is not just a material, it is the backbone of national development. From infrastructure to innovation, our goal is growth with responsibility,' Kumaraswamy said during the visit. He noted that the plant's EAF-based route aligns with the decarbonisation targets and supports India's Net Zero 2070 commitment. The Minister chaired a review meeting with senior officials including the Chairman and Managing Director of SAIL, Joint Secretary (Steel), Executive Director of the Salem Steel Plant and other key stakeholders. The discussion focused on addressing operational bottlenecks and scaling up the production of speciality steel, a segment critical to defence, aerospace, and railway applications. 'We are committed to revitalising this strategic asset. Speciality steel is the future, and Salem Steel Plant can become more cost-efficient by using renewable energy which includes solar and wind. There should be full capacity utilisation and deciding on the final product mix,' Kumaraswamy said. The visit is part of the Centre's broader vision to transform India into a global steel manufacturing hub, targeting 300 million tonnes of production capacity by 2030 and strengthening the country's self-reliance in high-grade steel. Kumaraswamy also met labour union representatives and assured them that their concerns would be addressed. He planted a sapling on the premises symbolising commitment to sustainable industrial development.
Time of India
09-06-2025
- Business
- Time of India
Tata Steel to begin UK electric arc furnace project by July
Tata Steel will begin construction of its electric arc furnace (EAF)-based steel making facility at Port Talbot in July 2025, with operations expected to start by 2027. The development follows receipt of planning approvals and is part of the company's transition from traditional blast furnace-based production to a lower-emission process. PTI has reported that the company's $1.5 billion project is backed by £500 million in funding from the UK Government. Tata Steel CEO and MD T V Narendran, and ED and CFO Koushik Chatterjee confirmed the timeline in the company's FY2024-25 annual report. 'We are now transitioning to decarbonised and state-of-the-art EAF-based steelmaking by FY2027-28, supported by 500 million pounds in the UK Government funding ,' the company said. Shift in operations and cost structure Tata Steel has closed its upstream operations in the UK and is currently supplying customers using imported substrate from India, the Netherlands and other sources. 'We have exited from steelmaking through the end-of-life heavy end assets in Port Talbot, and moved to a downstream model using imported substrate from India, the Netherlands and other external sources,' a company official said. Tata Steel Chairman N Chandrasekaran said the company is progressing with its plan to shift to lower-emission steel production. 'The decommissioning of two blast furnaces at Port Talbot has cleared the way for the next-generation Electric Arc Furnace (EAF) project, supported by the UK government,' he said. The company is targeting a reduction in fixed costs from £762 million in FY25 to £540 million over the next year. These reductions will be achieved by optimising substrate costs, modernising IT systems, streamlining downstream operations, and cutting corporate overheads. The EAF, once operational, will have a production capacity of 3.2 million tonnes of steel annually and is expected to reduce more than 50 million tonnes of carbon dioxide emissions over the next decade.
Economic Times
09-06-2025
- Business
- Economic Times
Stocks in news: HDFC Bank, Suzlon Energy, Tata Steel, BEL, MCX
Live Events (You can now subscribe to our (You can now subscribe to our ETMarkets WhatsApp channel Markets ended the week on a firm note, gaining nearly a percent, supported by favorable domestic cues. In today's trade, shares of HDFC Bank Tata Steel , BEL, MCX among others will be in focus due to various news Bank will pursue legal remedies in response to allegations made by the Lilavati Kirtilal Mehta Medical (LKMM) Trust, which has called on financial sector regulators to suspend and prosecute the bank's Managing Director and CEO, Sashidhar markets regulator Sebi has issued a corrigendum to its recent interim order in the IndusInd Bank insider trading Energy's promoters, the Tanti Family and Trust, are likely to offload 20 crore shares in a block deal on Monday, according to reports. Adani Group firm Ambuja Cements -- the second largest cement producer in the country -- contributes to nearly 30% of the cement used for India's homes and infrastructure, the company said in its latest annual reportTelecom operator Airtel has approached over 40 banks, as well as RBI and NPCI, proposing a close collaboration and a unified front to curb digital frauds, including sharing intelligence over repository of known fraudulent financial Tata Steel is expecting to start the construction of its low-carbon EAF-based steel making project in the UK from July 2025 and commence operations by MD Sat Pal Bhanoo has been entrusted with the financial and administrative powers and functions of LIC's CEO and MD for 3 months with effect from June announced the start of operation of the third phase of part capacity of 53.57 MW of the 300 MW Karnisar Solar Power Project, BikanerHindustan Copper Ltd (HCL) said it has signed a Memorandum of Understanding (MoU) with has signed a memorandum of understanding (MoUs) during an official delegation visit to Sweden and Denmark, aiming to strengthen its marine engineering portfolio and explore opportunities in expedition cruise received a Securities and Exchange Board of India (Sebi) nod to launch electricity derivativesTata Electronics and Bharat Electronics Ltd (BEL) signed a memorandum of understanding (MoU) to jointly explore semiconductor and advanced electronics solutions.
Time of India
09-06-2025
- Business
- Time of India
Stocks in news: HDFC Bank, Suzlon Energy, Tata Steel, BEL, MCX
Live Events (You can now subscribe to our (You can now subscribe to our ETMarkets WhatsApp channel Markets ended the week on a firm note, gaining nearly a percent, supported by favorable domestic cues. In today's trade, shares of HDFC Bank Tata Steel , BEL, MCX among others will be in focus due to various news Bank will pursue legal remedies in response to allegations made by the Lilavati Kirtilal Mehta Medical (LKMM) Trust, which has called on financial sector regulators to suspend and prosecute the bank's Managing Director and CEO, Sashidhar markets regulator Sebi has issued a corrigendum to its recent interim order in the IndusInd Bank insider trading Energy's promoters, the Tanti Family and Trust, are likely to offload 20 crore shares in a block deal on Monday, according to reports. Adani Group firm Ambuja Cements -- the second largest cement producer in the country -- contributes to nearly 30% of the cement used for India's homes and infrastructure, the company said in its latest annual reportTelecom operator Airtel has approached over 40 banks, as well as RBI and NPCI, proposing a close collaboration and a unified front to curb digital frauds, including sharing intelligence over repository of known fraudulent financial Tata Steel is expecting to start the construction of its low-carbon EAF-based steel making project in the UK from July 2025 and commence operations by MD Sat Pal Bhanoo has been entrusted with the financial and administrative powers and functions of LIC's CEO and MD for 3 months with effect from June announced the start of operation of the third phase of part capacity of 53.57 MW of the 300 MW Karnisar Solar Power Project, BikanerHindustan Copper Ltd (HCL) said it has signed a Memorandum of Understanding (MoU) with has signed a memorandum of understanding (MoUs) during an official delegation visit to Sweden and Denmark, aiming to strengthen its marine engineering portfolio and explore opportunities in expedition cruise received a Securities and Exchange Board of India (Sebi) nod to launch electricity derivativesTata Electronics and Bharat Electronics Ltd (BEL) signed a memorandum of understanding (MoU) to jointly explore semiconductor and advanced electronics solutions.
