Kalinganagar - Tata Steel's Kalinganagar Plant Achieves Milestone in Metal Production - The Economic Times PDF

7/4/2019 Kalinganagar: Tata Steel's Kalinganagar plant achieves milestone in metal production - The Economic Times
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Tata Steel's Kalinganagar plant achieves Ad
milestone in metal production

Located in Odisha's Jajpur district, the plant has one of the largest operating blast furnaces
in the country with a capacity of 4,330 cubic metres.
By Rakhi Mazumdar, ET Bureau | Updated: Feb 21, 2017, 05.56 PM IST Save
0
Comments Austempering Technology Leader - Heat
Treating Specialists
KOLKATA: Tata Steel's greenfield steel plant
at Kalinganagar achieved a major milestone appliedprocess.com/Austempering/Steel Visit Site
with hot metal production crossing two

million tonne mark on February 19, 2017.
Located in Odisha's Jajpur district, the plant

has one of the largest operating blast
furnaces in the country with a capacity of BUDGET
4,330 cubic metres. The blast furnace, which STORIES
was blown in on February 28, 2016,achieved
Why India needs to act swiftly
The second million tonne was achieved at a production the first million tonne of hot metal production on pragmatic plans to fix its
rate of 7,520 tonnes per day. agrarian crisis
on October 9, 2016. For Tata Steel
Kalinganagar, it took about 133 days to
reach two million tonne production from one million tonne, an official statement issued on
Looking for Budget cues? This
Tuesday said. may help
Incidentally, the second million tonne was achieved at a production rate of 7,520 tonnes
per day, which is at an operating rate of 2.8 million tonne per annum. 'Inheritance tax set for a
comeback after 35 years'
Soon after start of commercial production in May 2016, the state-of-the-art steel plant has
crossed a number of operational milestones. It has also started exports of hot rolled coils
(HRC) and Tata Ferroshots to various countries. A new product launched by Tata Steel How Jaitley's budgets dealt with
from its plant at Kalinganagar in March 2016, Tata Ferroshots mainly consists of farm crisis
granulated pig iron solidified by cooling in water. t is electric arc furnaces, induction
furnaces, cupolas, basic oxygen furnaces and foundries as a replacement of pig iron,
scrap or direct reduced iron (DRI). MORE FROM BUDGET STORIES
Launching Evita, 2 & World Class Amenities,

3BHK starts ₹83L* with 2BHK from 90.51 lakhs Related Most Read Most Shared
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House Of Hiranandani Bannerghatta Purva Palm Beach in Bangalore Tata Steel's Kalinganagar plant creates employment
for over 21k
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Tata Steel begins work on Phase II at Kalinganagar
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Now with new Cold Roll Mill
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Tata Steel begins work on Phase II at Kalinganagar with new Cold Roll Mill
Tata Steel sets up largest coke cooling unit at Kalinganagar ECONOMY
Tata Steel Kalinganagar touches 2mt hot metal milestone Things the Budget
should focus on
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Dharmendra Pradhan asks employees to

contribute in making India USD 5 trillion
economy
In a letter to the workers, Pradhan has highlighted the importance of the steel sector in the
BUDGET
economy and its major role in the growth story.
STORIES
PTI | Jul 03, 2019, 08.25 PM IST
0 on pragmatic plans to fix its
Comments
agrarian crisis
BCCL
NEW DELHI: Steel Minister Dharmendra
Pradhan has urged the employees of his
ministry and steel PSUs to contribute to may help
efforts for making India a USD 5 trillion
economy.
'Inheritance tax set for a

In a letter to the workers, Pradhan has comeback after 35 years'
highlighted the importance of the steel sector
in the economy and its major role in the
growth story. How Jaitley's budgets dealt with
farm crisis
The minister has also sought ideas and suggestions of
"We are working on a mission mode to build
the employees.
India into a USD 5 trillion economy as
envisioned by Prime Minister Narendra Modi. You all have to play a key role in this MORE FROM BUDGET STORIES
journey," Pradhan said in the letter.
Related Most Read Most Shared

The prime minister has said that the country should target becoming a USD 5 trillion
economy by 2024. Modi last month interacted with select economists and experts on the Government neither divesting nor privatising
ONGC: Dharmendra Pradhan
economic policy with a view to brainstorming ideas that could help create jobs, boost
growth rate and more than double the size of Indian economy to USD 5 trillion by 2024. More oil-gas output, faster reforms key for
Dharmendra Pradhan
Stressing upon the importance of the steel industry, Pradhan said it is the backbone of the Dharmendra Pradhan seeks Saudi help to cool fuel
rates
economy impacting almost every sector of the country including infrastructure,
construction, automobile, petroleum, power coal, and manufacturing. Dharmendra Pradhan speaks to US Energy
Secretary, raises issues of volatility in oil prices
Indian steel industry has immense potential to impact the global market and influence the
national growth, he said.
and get free quotes
"Your role will be equally vital to take Indian steel sector to newer heights playing major
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role in Indian growth story," Pradhan said in the letter.
Pradhan also assured the employees that the domestic steel industry is on a solid
FUEL PRICES IN METRO CITIES
trajectory and he is confident that the targets envisioned in the National Steel Policy 2017
(Jul 04, 2019) Petrol Diesel
will take Indian Steel Industry to newer pinnacles.
CHENNAI DELHI
India has set an ambitious target of ramping up its steel making capacity to 300 million
PETROL (₹/L) PETROL (₹/L)
tonnes by 2030-31.
73.19 0.00
70.51 0.00
The minister has also sought ideas and DAILY

suggestions of the employees.
NEWSLETTER KOLKATA MUMBAI
Enter
0 your email id Subscribe Now PETROL (₹/L) PETROL (₹/L)
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72 75 76 15
72.75 0.00 76.15 0.00
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Dharmendra Pradhan seeks Saudi help to cool fuel rates
NEXT STORY
Tata Steel set to raise $500 million via

foreign loans
Bulk of the funds will be used to expand Odisha plant, rest to refinance debt.
BUDGET
By Saikat Das, Rakhi Mazumdar, ET Bureau | Updated: Jul 03, 2019, 07.49 AM IST
0
Comments
STORIES
Getty Images
MUMBAI | KOLKATA: Tata Steel is raising as Why India needs to act swiftly
on pragmatic plans to fix its
much as $500 million through syndicated agrarian crisis
overseas loans to fund expansion and
refinance debt, said people with knowledge
of the matter. Looking for Budget cues? This
may help
Three-fourths of the amount will be used for

the Rs 23,500-crore, second-phase
expansion of its Kalinganagar steel plant in 'Inheritance tax set for a
Odisha that will raise capacity by 5 million
The company is in talks with several foreign banks to
tonnes per annum (mtpa) to 8 mtpa, they
raise the five-to-six-year money. said. The rest will go toward refinancing debt
How Jaitley's budgets dealt with
farm crisis
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ICICI Bank eyes $500 millionMore
through foreign loan
“This is partEngineering
Construction
of the routine financing programme as we look at market opportunities to
Cement Chem / Fertilisers Metals & Mining Packaging Paper / Wood / Glass/ Plastic/ Marbles Petrochem Steel
Government to simplify foreign loan norms,
diversify our debt portfolio,” said Tata Steel chief financial officer Koushik Chatterjee. This
liberalise FDI policy
will be “within the overall target debt levels”. He didn’t elaborate on the sum that’s being
raised. Pakistan received $49 billion foreign loans in 10
years
ONGC Videsh raises $1.2 billion foreign loans to

buy 15 per cent stake in Russia's Vankorneft
$815 million embezzled in foreign loan projects in

China

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The company is in talks with several foreign banks to raise the five-to-six-year money.
They include Citi, Standard Chartered, First Abu Dhabi Bank (FAB), Credit Agricole Corp
and BNP, sources said. The banks couldn’t be contacted immediately.
“This is an unsecured loan — that’s why no domestic bank may be participating as they
mostly seek collateral against any credit,” said one of the persons cited above. The loan
could be priced at 215 basis points over the dollar-based London Interbank Offered Rate
(Libor). While such overseas funding helps diversify borrowing sources, it could be
beneficial in terms of cost as well, said an executive. A basis point is 0.01 percentage
point.
The Kalingangar expansion began in November 2018 and is scheduled to be completed in

four years.
Debt of Rs 1 lakh crore

“The funding will be drawn gradually, based on the scheduled payments for capex,”
Chatterjee said.
The Kalingangar product mix will consolidate Tata Steel’s presence in value-added
automotive steels and high-end product segments. It is also part of Tata Steel’s renewed
focus on enhancing steel capacity in India, while scaling down operations in Europe and
other parts of Asia.
The total capacity of Tata Steel’s India operations after the expansion at Kalinganagar will
be 23.6 mtpa, including the existing 10 mtpa at Jamshedpur and 5.6 mtpa at Tata Steel
BSL. The latter was formed by Tata Steel’s recent
DAILY acquisition of Bhushan Steel Ltd.
NEWSLETTER
Tata Steel’s consolidated debt was about Rs 1 lakh crore at the end of March, compared
with Rs 92,127
Home crore aAuto
Industry year earlier. Gross debt Cons.
Banking/Finance declined by Rs 8,781
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in the March
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quarter of
ConstructionFY19. The company
Engineering Cement plans to slash this
Chem / Fertilisers by &another
Metals Mining $1 billion orPaper
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/ Wood Petrochem Steel
financial year, ICICI Direct Research said in an April 30 report.
Tata Steel’s standalone operations in the March quarter were driven by a healthy volume
push, the report said.
“Since February 2019, domestic steel prices have inched upwards, auguring well for the
company,” said ICICI Direct Research. Of late, however, Indian steel prices have come
under pressure due to moderation in domestic demand from infra spends, a slowdown in
auto sales and a slide in global prices.
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Pakistan received $49 billion foreign loans in 10 years
ONGC Videsh raises $1.2 billion foreign loans to buy 15 per cent stake in Russia's Vankorneft
NEXT STORY
Essar Steel to supply 1 mt steel to Posco

Steel India for Rs 5,000 crore
The said volume of steel will be supplied to Posco Maharashtra that houses a 2 million
tonne facility in the state.
BUDGET
STORIES
By Vatsala Gaur, ET Bureau | Jul 02, 2019, 08.45 PM IST
0
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Agencies on pragmatic plans to fix its
MUMBAI: Posco Steel India has signed a
agrarian crisis
memorandum of understanding with Essar
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Steel to buy 1 million tonne hot rolled
products
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senior Posco executive said.
Construction Engineering Cement Chem / Fertilisers The said
Metals volumePackaging
& Mining of steel will be/ supplied
Paper to Plastic/ Marbles
Wood / Glass/ Petrochem Steel
Posco Maharashtra that houses a 2 million 'Inheritance tax set for a
tonne facility in the state, to manufacture
value added steel products like coated steel.
Essar Steel's plant in Hazira is close to Posco's faciltiy
It is the company's fourth MoU with Essar
Steel that has earlier supplied more than 2.5 How Jaitley's budgets dealt with
in Maharashtra and the transportation also takes place
farm crisis
through the sea route from Hazira to Dighi port, said GH million tonne steel to Posco over the last five
Bang, managing director at Posco Maharashtra.
years.

Essar Steel's plant in Hazira is close to Posco's faciltiy in Maharashtra and the
transportation also takes place through the sea route from Hazira to Dighi port, said GH
Bang, managing director at Posco Maharashtra. "There is a competitive advantage that Related Most Read Most Shared
Essar Steel enjoys in terms of cost, but that aside, the quality of their steel has also
improved over time," Bang said,
Posco has a 2 million tonne steel plant in Mangaon in Maharashtra. and get free quotes
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The development holds significance as Essar Steel is still undergoing insolvency resolution
process for having failed to pay banks debt worth Rs 49,000 crore as a plan offered by
ArcelorMittal is awaiting a final nod by courts. The company's capacity utilisation has Top Trending Industry Terms
increased from 40% since it was admitted for insolvency close to two years ago to 85% Adani Green Energy Kia Motors
currently. It produced 6.9 million tonne steel last fiscal year out of a name plate capacity of Vande Bharat Express Dailyhunt
8.4 million tonnes and is expected to clock more than 7 million tonne production this fiscal United World Wrestling media
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New Delhi: As a Delhi court ordered framing
agrarian crisis
of criminal conspiracy and cheating charges
against JSPL Chairman Naveen Jindal in a
case pertaining to coal block allocation, the Looking for Budget cues? This
may help
company Tuesday denied the allegations
and reiterated that it has done "no wrong".
The company's statement followed the 'Inheritance tax set for a

special court's direction to frame charges
against Jindal and four others in the case.
The court was hearing a matter pertaining to the
"JSPL categorically deny the charges and How Jaitley's budgets dealt with
allocation of the Urtan North coal block in Madhya
farm crisis
Pradesh. allegations and reiterate that our company
has done no wrong and we are confident
that the truth will emerge during the course of the judicial process/trial, vindicating our
stand. The allegations made against the company and individuals are misconceived and
frivolous in nature," the company said in a statement.
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Special judge Bharat Parashar on Monday ordered framing of charges under sections 420
Deal street: Comcast-led consortium closing in on
(cheating) and 120-B (criminal conspiracy) of the Indian Penal Code against Jindal and the ZEE Entertainment buy
others.
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Institute
Besides Jindal, the charges have been framed against JSPL's former director Sushil
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Gujral and the company's authorised signatory D N Abrol.
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The court was hearing a matter pertaining to the allocation of the Urtan North coal block in
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It has put up the matter for July 25 for formally framing the charges against the accused.
According to the CBI charge sheet in this case, the accused had misrepresented facts in Reach out to Top Generator Dealers near you
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its January 2007 application before the Screening Committee, responsible for
recommending coal block allocation, for obtaining the Madhya Pradesh coal block and GET QUOTE
hence cheated the Coal Ministry to get wrongful gains.
The company statement said: "It is a frivolous case of CBI where the charge is not made Top Trending Industry Terms
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SFIO finds extreme misuse of corporate

structure in Bhushan Steel case
Bhushan Steel had defaulted on loans and the banks had to take a haircut of more than
Rs 20,000 crore as part of the resolution process.
BUDGET
STORIES
PTI | Jul 01, 2019, 10.46 PM IST
0
Comments
BCCL on pragmatic plans to fix its
NEW DELHI: The Serious Fraud
agrarian crisis
Investigation Office (SFIO) Monday filed a
70,000-page complaint in the Bhushan Steel
case wherein the probe agency has found Looking for Budget cues? This
may help
"extreme misuse" of the corporate structure
by the promoters which reduced corporate
governance requirements to paper
formalities, sources said. 'Inheritance tax set for a
Bhushan Steel had defaulted on loans and

the banks had to take a haircut of more than
There was fraudulent overvaluing of assets by around
Rs 20,000 crore as part of the resolution How Jaitley's budgets dealt with
Rs 15,000 crore to inter alia write-off inventory worth farm crisis
around Rs 6,000 crore, trade receivables to the extent process.
of Rs 1,250 crore.
The complaint has been filed at the special

court, Dwarka, New Delhi.
Earlier, the agency had arrested company's former MD Neeraj Singal, who is now on Related Most Read Most Shared
interim bail.
SFIO shows grey areas in IFIN evergreening
SFIO wants DSK Group promoters to be

The investigation has inter alia unearthed fraudulent misuse of letter of credits to the tune
prosecuted
of around Rs 45,000 crore, gross misuse of the first-time adoption of Ind-AS in mis-stating
IFIN case: Auditors set to take on SFIO
the financial statements of the company, sources said.
IL&FS case: SFIO files first chargesheet
There was fraudulent overvaluing of assets by around Rs 15,000 crore to inter alia write-off
New govt to decide on Jet’s SFIO probe
inventory worth around Rs 6,000 crore, trade receivables to the extent of Rs 1,250 crore,
Singals set up companies to divert funds: SFIO
they added.
chargesheet
According to the sources, promoters used more than 150 companies to build a complex
web of transactions to carry out the siphoning off funds to hoodwink the lenders and other Reach out to Top Generator Dealers near you
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The investigation brought out the extreme misuse of the corporate form by the promoters
The investigation brought out the extreme misuse of the corporate form by the promoters
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Sources also said the role of statutory auditors has again come in focus with their
conniving role glaringly coming out. The agency has also raised questions on the role of
bank officials in perpetuating the fraudulent activities, they added.
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IFIN case: Auditors set to take on SFIO
IL&FS case: SFIO files first chargesheet
New govt to decide on Jet’s SFIO probe
NEXT STORY
No control over steel price: Government

Union Steel Minister Dharmendra Pradhan said in the Lok Sabha that government's role is
to see that there is no monopoly in steel trade.
PTI | Jul 01, 2019, 01.56 PM IST
0 BUDGET
Comments STORIES
Reuters

NEW DELHI: The government has no control on pragmatic plans to fix its
over the steel price but keeps a tab on it to agrarian crisis
ensure there is no monopoly on trading of
the metal, Union Steel Minister Dharmendra
Pradhan said in the Lok Sabha on Monday. may help
DAILY NEWSLETTER
Pradhan said steel is a free commodity and it
is your
Enter beingemail
imported
id too. Subscribe Now 'Inheritance tax set for a
https://economictimes.indiatimes.com/industry/indl-goods/svs/steel/tata-steels-kalinganagar-plant-achieves-milestone-in-metal-production/articlesho… 10/17
y
Home Industry Auto Banking/Finance
Pradhan said there are no restrictions on importing or
"The government
Cons. Products has no control
Energy over steelHealthcare/Biotech
Ind'l Goods/Svs Services More
Construction Engineering
domestically procuring scrap byCement Chem units.
steel producing / Fertilisers price.
MetalsOur role isPackaging
& Mining to see that there
Paper is no
/ Wood / Glass/ Plastic/ Marbles Petrochem Steel
monopoly in steel trade. The price is How Jaitley's budgets dealt with
determined by market demands," he said during the Question Hour. farm crisis
The minister said steel is a deregulated sector and the matters of procurements,
operations, sales, marketing and investments etc., are taken by companies concerned MORE FROM BUDGET STORIES
based on commercial considerations, market dynamics, etc.

"The usage of scrap by steel producing units and scrap processing units is a commercial
decision of units. The scrap can be procured domestically or through imports," he said. Deal street: Comcast-led consortium closing in on
ZEE Entertainment buy

Pradhan said there are no restrictions on importing or domestically procuring scrap by Institute
steel producing units. The government does not regulate steel scrap supply situation in the
country. today
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Liberty Steel acquires ArcelorMittal assets in

Europe for 740 million euros
These operations, with a combined rolling capacity of over ten million tonne per annum
supply steel to multiple sectors across Europe's industrial heartlands.
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STORIES
PTI | Jul 01, 2019, 01.31 PM IST
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Liberty Steel Monday said it has acquired
agrarian crisis
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id Subscribe
units and five service Now
t f L N Mitt l' A l Mitt l i
centres from L N Mittal's ArcelorMittal in
Europe for 740 million euros (around Rs Looking for Budget cues? This
may help
5,782 crore), according to a company
statement.
Indian-origin metals tycoon Sanjeev Gupta- 'Inheritance tax set for a

owned company has acquired the major
integrated steel works at Ostrava in the
In the medium term, Liberty will explore opportunities to
Czech Republic and Galati in Romania as
well as rolling mills at Skopje (North How Jaitley's budgets dealt with
produce higher-quality steels with a more flexible
farm crisis
production profile. Macedonia), Piombino (Italy), Dudelange
(Luxembourg) and two plants near Liege in
Belgium, it said.
These seven sites employ over 14,000 people.

Related Most Read Most Shared
The five service centres which market the products are based in France and Italy.
These operations, with a combined rolling capacity of over ten million tonne per annum Reach out to Top Generator Dealers near you
supply steel to multiple sectors across Europe's industrial heartlands, including and get free quotes
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equipment, consumer products and yellow goods.
"Liberty Steel today (Monday) completed acquisition of seven major steelworks and five Top Trending Industry Terms
service centres across seven European countries from ArcelorMittal.
"The 740 million euros deal makes Liberty Steel one of the top ten producers globally, United World Wrestling media
excluding China, with a total rolling capacity in excess of 18 million tonne covering a wide
range of finished products," the company, which is part of London-based GFG Alliance,
said.
It said this is the largest single transaction undertaken by GFG and brings the Alliance's
worldwide workforce to nearly 30,000 across 30 counties.
Liberty Steel said it aims to boost sales from these sites by around 50 per cent over the
next three years.
With Monday's announcement Liberty Steel will now work with local management, trade
unions, customers and suppliers and complete a comprehensive analysis of the
businesses to explore investment opportunities.
In the medium term, Liberty will explore opportunities to produce higher-quality steels with
a more flexible production profile.
"These businesses will form a key part of our global steel strategy, of building a
sustainable steel business, with a fully integrated value chain, from raw materials to high-
value finished products that are distributed in high quality markets," Sanjeev Gupta, GFG
executive chairman, said.
Earlier this month, Liberty Steel acquired Johnstown Wire Technologies (JWT), North
America's largest producer of value-added carbon and alloy wire.
The company, however, did not provide DAILY

the financial details of the transaction. GFG
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JSW Steel's offer for Asian Colour Coated

Ispat gets lenders' nod
JSW Steel is offering Rs 1,525 crore to the lenders of the asset, which makes up for a little
more than 30% of the total dues of Rs 5000 crore that the asset owes to banks.
BUDGET
STORIES
By Vatsala Gaur, ET Bureau | Jun 29, 2019, 03.34 PM IST
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Mumbai: JSW Steel has moved closer to
agrarian crisis
acquiring distressed Asian Colour Coated
Ispat with around 80% of the lenders
represented by a committee of creditors Looking for Budget cues? This
may help
(CoC) having voted in favour of the
company's resolution plan on Friday, two
people in the know of the matter said.
JSW Steel is offering Rs 1,525 crore to the
lenders of the asset, which makes up for a
The plan will be submitted to the NCLT Delhi bench for little more than 30% of the total dues of Rs
5000 crore that the asset owes to banks. How Jaitley's budgets dealt with
approval soon.
farm crisis
Operational creditors that are owed a total of
Rs 507 crore will be getting Rs 25 crore from JSW Steel.

The plan will be submitted to the NCLT Delhi bench for approval soon.
JSW Steel declined to comment while a mail sent to the resolution professional Kuldip Related Most Read Most Shared
Kumar Bassi remained unanswered.

Asian Colour Coated Ispat resolution professional
DAILY NEWSLETTER seeks bid deadline extension
Asian Colour Coated Ispat that was admitted for insolvency last year in July, has a total 1
Enter your email id Subscribe Now JSW steel shows interest in Asian Colour Coated
million tonne of galvanising and colour coated capacities in two locations in Maharashtra Ispat
and Haryana.
The asset will be a good fit for JSW Steel that is almost tripling its colour coated steel
and get free quotes
capacity to 2 million tonnes per annum over a year and a half as part of its strategy to
augment capacities of value added steel products that are seeing a growth in demand and GET QUOTE
also earn the manufacturers higher margins. The company had initially offered Rs 1,200
crore for the asset but upped its bid by more than 25% in May.
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Asian Colour Coated Ispat Committee Of Creditors
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Asian Colour Coated Ispat resolution professional seeks bid deadline extension
JSW steel shows interest in Asian Colour Coated Ispat
NEXT STORY
Tata Steel unveils work in high-speed

transport in Europe
At an event in the Netherlands, the Indian steel major showcased how it has helped to
develop the tube technology required to allow passengers in the hyperloop.
BUDGET
STORIES
PTI | Jun 28, 2019, 07.22 PM IST
0
Comments
Agencies
Tata Steel has unveiled its work in Europe's on pragmatic plans to fix its
agrarian crisis
high-speed transport sector to help create a
sustainable system, which could slash travel
times considerably in the future. Looking for Budget cues? This
may help
At an event hosted by Dutch firm Hardt

Hyperloop in the Netherlands on Thursday,
the Indian steel major showcased how it has 'Inheritance tax set for a
DAILY NEWSLETTER
helped to develop the tube technology
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the Now
Tata Steel supplied the tracks and the motor hyperloop to be carried at speeds of up to
Tata Steel supplied the tracks and the motor yp p p p
Home
components, Industry
which Auto of steel,
are both made Banking/Finance
the 1,200
Cons.km/hr, whileEnergy
Products reducing Ind'l
weight and
Goods/Svs Healthcare/Biotech How Jaitley's
Services Morebudgets dealt with
farm crisis
company said. Engineering
Construction Cement Chem / Fertilisers construction
Metals & Miningcosts by morePaper
Packaging than/ Wood
50 per cent.
/ Glass/ Plastic/ Marbles Petrochem Steel
"We are committed to having a positive impact in the world we live in. We believe that
hyperloop technology can help to achieve this by contributing to new, fast and sustainable
mobility," said Hans van den Berg, Director of Tata Steel's IJmuiden steelmaking site in the
Netherlands. Related Most Read Most Shared
Steel is a vital component for hyperloop. We are pleased to be able to share our high-tech
innovation skills and materials expertise to contribute to its future success," he said. Reach out to Top Generator Dealers near you
and get free quotes
Among some of Tata Steel's other focus in the transport sector, it also unveiled lane- GET QUOTE
switching technology, which allows hyperloop vehicles to change from one lane to another
at high speed. Tata Steel supplied the tracks and the motor components, which are both
made of steel, the company said. Top Trending Industry Terms
The development of the hyperloop lane switch marks the end of the first test phase at the
low-speed test facility at Delft in the Netherlands, which assessed fundamental hyperloop
technologies including magnetic levitation, a low-pressure environment, a propulsion
system, and cargo/passenger weight simulations.
The steel components, which have now been successfully tested and proven to be
functional, serve as the basis for future projects planned by Hardt Hyperloop, Tata Steel
and other partners, Tata said.
Hardt Hyperloop also revealed the next stage in development, which includes a 3 km track
which will allow for the high-speed testing of vehicles and will provide the basis for the
standardisation in European hyperloop infrastructure and technology.
Tata Steel is one of Europe's leading steel producers, with steelmaking in the Netherlands
and the UK, and manufacturing plants across Europe.
The company says it supplies high-quality steel products to the most demanding markets,
including construction and infrastructure, automotive, packaging and engineering.
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Tata Steel rejigs top deck in Europe

Dr Henrik Adam, currently Chief Commercial Officer, TSE has been appointed to succeed
Hans as the CEO from July 1, 2019.
ET Bureau | Jun 28, 2019, 04.41 PM IST
0 BUDGET
Comments STORIES
BCCL
Kolkata: Tata Steel has announced a series
of leadership changes in its top deck in on pragmatic plans to fix its
Europe. agrarian crisis
“Hans Fischer, Chief Executive Officer of

Tata Steel Europe (TSE), has decided to may help
retire from the position of CEO with effect
from July 1, 2019. Hans will continue to
serve on the Board of TSE as a Non-
Executive Director and Adviser to T V comeback after 35 years'
The move follows the company’s decision to abandon a Narendran, CEO and MD of Tata Steel
proposed joint venture between Thyssenkrupp and Tata Limited till September 30, 2019 to ensure
Steel. smooth transition of leadership,” an official How Jaitley's budgets dealt with
statement said. farm crisis
Dr Henrik Adam, currently Chief Commercial Officer, TSE has been appointed to succeed
Hans as the CEO from July 1, 2019. He has also been inducted on the Board of TSE, the MORE FROM BUDGET STORIES
statement added.

The move follows the company’s decision to abandon a proposed joint venture in which
Thyssenkrupp and Tata Steel were to merge their steel businesses in Europe. Deal street: Comcast-led consortium closing in on
ZEE Entertainment buy

Additionally, N K Misra, Executive Director (Finance) of TSE, will retire from his position on Institute
December 31, 2019. Sandip Biswas, Group Executive Vice President (Finance) of Tata
Steel Limited, has been appointed as the Executive Director of TSE with effect from July 1, today
2019. He will be responsible to drive the company's transformation programme. Mr Biswas
Will builder loans become India's subprime
will work closely with Mr Misra for a smooth transition and take over as the CFO of TSE, sinkhole?
the statement said.
parental leave
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