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The Hindu
05-07-2025
- Business
- The Hindu
Foundation stone for Arcelor Mittal-Nippon Steel plant likely to be laid in Anakapalli district in October
The Andhra Pradesh Government is gearing up to have the foundation laid for the mega integrated steel plant of Arcelor Mittal-Nippon Steel (AM&NS) in Anakapalli district in October and get it completed by the end of 2028. Kadapa plant Apart from this, Chief Minister N. Chandrababu Naidu is keeping in direct touch with the Jindal Group to give a tangible shape to the steel plant in Kadapa district, which is to be established in compliance with the A.P. State Reorganization Act of 2014, but has been hanging fire for over a decade now. As far as the AM&NS steel plant is concerned, up to 6,000 acres of land has already been acquired and pollution clearance for it is expected to come in September, Industries & Commerce Minister T.G. Bharat has said, while claiming that some major players in the steel sector (other than AM&NS) are exploring the opportunities to invest in the State. In an exclusive interview with The Hindu on Saturday, Mr. Bharat said top priority was given to the establishment of the AM&NS plant, and revival of the Visakhapatnam Steel Plant (VSP), which achieved a turnaround due to the financial package given by the Central government, after tottering on the brink of disinvestment. More in the pipeline On the other hand, the government has, in recent months, cleared multiple proposals for the establishment of industries with investments ranging from ₹100 crore to ₹5,000 crore. They are in various stages, and a good number of them are in the solar power, pharma and semiconductor sectors. Steps are taken for the development of an industrial corridor between Lepakshi and Orvakal. Mr. Bharat said that Hyderabad-based Skyroot Aerospace, which had sent India's first privately built rocket into space in late 2022, expressed keenness to set up a testing facility at Sriharikota. Besides, some big semiconductor manufacturing units were in the process of being established by South Korean and Taiwanese companies. A.P. Industrial Development Policy (4.0) 2024-29, A.P. Food Processing Policy (4.0) 2024-29, A.P. MSME & EDP (4.0) 2024-29, and A.P. Private Industrial Parks Policy (4.0) 2024-29 laid a comprehensive framework that was needed to transform the State into a progressive industrial destination. The speed with which businesses were being facilitated was helping Andhra Pradesh in clinching big deals, Mr. Bharat said, adding that several major projects were in the pipeline and the State would retain its leadership in Ease-of-Doing Business rankings.
Time of India
13-05-2025
- Business
- Time of India
Expect a big move in metals; stick to quality largecaps: Gautam Shah
Live Events You Might Also Like: Metal stocks surge over 8% as US-China tariff truce lifts market sentiment You Might Also Like: Pharma and metals could drive next leg of momentum: Deven Choksey (You can now subscribe to our (You can now subscribe to our ETMarkets WhatsApp channel , Founder,, says gold's surge past expectations suggests a short-term peak around $3450-3500, requiring consolidation before further also says metals are poised for a significant rally. Experts predict the metals index will reach 10,500. Top-tier metal producers, especially in steel and non-ferrous sectors, are favoured. Jindal Group stocks are particularly attractive. These leading stocks could see gains between 15% and 30%. Investors should focus on quality large-caps to navigate global I am sure the gold has actually done the unthinkable. I remember 18 months back at various conferences, it was trading at levels of $1800 and nobody had the visibility that it could actually cross $3000. But in charts it gave you some sense that a mega trend was coming. For now, the trend is done with, $3450-3500 is a short-term top. It needs multiple weeks of consolidation before it can do bigger things. The longer term is invested in gold but do not be a buyer at these prices. You will get a little more dip closer to levels of $2900-3000. But the bigger trade for the next one year which again we have been saying for a while now is silver. Silver seems to be consolidating and what gold has done over the last one-and-a-half years, silver can do over the next 12 to 18 months. So once the metal gets past, you are going to see a mega trend there.I do not think it can get back to its heyday, but it will not go down too much, that itself is a win for the IT index. Remember, many of these stocks are very richly valued. Many of these stocks have a lot to do with foreign soil. And in today's complex and volatile world, it might not be easy for IT stocks to get into a structural while they might see a pullback from time to time, I do not think they are going to take leadership anytime soon. In the next leg of the market moving towards lifetime highs, new leaders will emerge. Maybe financial services will do better. Metals will do well. Real estate will do well. The entire PSU basket will do well where the valuations are very comfortable. So, while we like it, we are not recommending it as a structural trade for the rest of the would be metals. Last summer that same trade was financial services and Bajaj Finance and some of these top stocks worked out quite well because they stood out while the entire mess was getting cleaned and cleared. Now the metals index after yesterday's big move on charts, tells me that there is something brewing behind the scene that fundamentally could trigger a big move. So, chartically, I am very convinced that the metals index is heading towards 10,500.I am sticking to top quality everywhere, in each of these sectors of the market I am looking at the big boys because they can create alpha and in this complex global world, you do not want to be very picky with midcaps and smallcaps where the trend is very shallow. Any volatility and midcaps and small caps tend to fall. But the top steel producers are the ones which we really like. In fact, even in the non-ferrous metal stocks, we like the top three or four names. The entire Jindal Group of stocks we like. In this basket, all the top five or six stocks can appreciate anywhere between 15% and 30%.
The Hindu
21-04-2025
- Business
- The Hindu
Mamata lays foundation stone of ₹16,000-crore power plant; project to generate 15,000 jobs
Salboni/Paschim Medinipur In a major boost to the industrial development in the State, West Bengal Chief Minister Mamata Banerjee on Monday laid the foundation stone for a pollution-free power plant by the Jindal Group at Salboni in Paschim Medinipur district. The initiative by JSW Energy, at an investment of ₹16,000 crore, is expected to create over 15,000 jobs and generate 1,600 megawatt power, which will help in meeting the State's power demand. The Jindal Group also launched a new age 2,000-acre tech park with plug-in facilities near the project site with an aim to lease it to other industries. The power plant project, which was announced during the 8th Bengal Global Business Summit (BGBS) in February 2025, will have two units generating 800 MW each. 'The Salboni land belongs to the farmers here. You will all get employment here, your next generation will also benefit from the project,' chairman of JSW Group Sajjan Jindal said. Mr. Jindal also said that they will start a skill-development centre in the area to help generate job opportunities in the State. The company now has a 25 year Power Purchase Agreement (PPA) with the West Bengal State Electricity Distribution Company Limited (WBSEDCL). The plant will utilise domestic coal allocated to the State under the SHAKTI B (IV) policy. Speaking at the event, Ms. Banerjee said, 'This power plant will provide electricity to over 23 districts and is the first of its kind in Eastern India. Of the 19 lakh crore investment proposed during the BGBS, 13 lakh crore had already been invested. The rest is in the pipeline.' The JSW Industrial Park is set to have a plug-and-play infrastructure, targeted to lease to other companies for industry work. It will follow modern urban planning with grid and renewable power sources, including railway and highway connectivity to attract industries. The CM further added that when her government came to power only 2,000 MW energy was produced in the State, now the production stands at 10,000 MW. She promised that her government plans to increase it to 18,000 MW to keep up with the rising demands and industrialisation in the State. Among others present at the event were State Power Minister Aroop Biswas, actor-turned MP Deepak Adhikari (Dev), MP June Malia, cricketer Sourav Ganguly, among others. 'Whoever says that there is no industry in Bengal should witness this event. Mamata Didi is helping realise the dream of 'Egiye Bangla' (Bengal Forward) to create more industries and jobs in the State,' Mr. Dev said. Since 2007, Salboni had seen a rise in industrial investments, when a JSW steel plant was proposed in the area. In 2018, Jindal's launched a cement plant in the same area, boosting the industrial plans for the region.
Time of India
21-04-2025
- Business
- Time of India
Bengal CM lays foundation stone of 1,600 MW thermal power plant at Salboni
Salboni: West Bengal Chief Minister Mamata Banerjee on Monday laid the foundation stone of a 1,600 MW ultra-supercritical thermal power plant at Salboni in Paschim Medinipur district, claiming it as a major step in the state's push for industrial and infrastructure growth. The plant, to be built by JSW Energy at an investment of Rs 16,000 crore, will comprise two units of 800 MW each. The first unit is expected to be commissioned in 42 months and the second in 48 months. This is JSW Group's first venture into the energy sector in Eastern India with a greenfield project. "This is a landmark project. I must congratulate the Jindal Group and all their officials," Banerjee said at the event, where she lit a digital lamp and unveiled the foundation plaque. "A total of 1,600 MW will be generated - 800 each in two phases - and 23 districts will benefit from this initiative," she added. The CM described the project as a "special type of eco-friendly initiative" and termed it "the need of the hour." She said the project is expected to generate employment for nearly 15,000 people and praised the transparent process of competitive bidding through which the Jindal Group secured the contract. Banerjee also announced that two more power units would be developed in the state, citing the increasing demand for electricity. "Bengal needs more and more power. We are committed to meeting that demand," she said. Highlighting the expanding power needs in the region, Banerjee noted that the number of electricity consumers in Paschim Medinipur has risen from 1.87 lakh to 2.30 lakh in recent years. "We are continuously upgrading our infrastructure to keep pace with rising demand," she said. The Chief Minister added that once the Deucha-Pachami coal block project is completed, Bengal will no longer face any power shortages. Chairman of JSW Group, Sajjan Jindal, termed Salboni a "dream" for the conglomerate and expressed satisfaction over the state's progress. "The state has seen huge development in the last 10 years. Everybody is happy with what is happening in West Bengal. The land belongs to the farmers and they should benefit from the industry coming up in this place," Jindal said. He added that the Salboni power plant would feature the highest-rated technology with no pollution and would meet the growing power demands of a rapidly developing West Bengal. Jindal also announced that an industrial park would come up near the plant site, the foundation of which was also laid during the event. "Both the projects will generate employment for thousands of people," he said. Cricketer Sourav Ganguly and Trinamool Congress MP Dipak Adhikari were also present at the event. Reaffirming her government's commitment to industrial growth, Banerjee highlighted Bengal's investor-friendly ecosystem, robust infrastructure and continuous policy support. "Our state offers a business-friendly environment, strong infrastructure and consistent support for investors," she added. She pointed to the construction of six economic corridors along national highways as part of Bengal's ongoing development initiatives and said a newly-formed state-level Synergy Committee has already cleared projects worth Rs 1,000 crore to facilitate ease of doing business.
