Page 2 - Steel Authority Of India

BMW Industries plans B2B steel products' market foray: MD Harsh Bansal

With this new venture, the company aims to leverage its existing strengths in downstream steel processing to cater to the rising demand in the country

SAIL supplies 4,000 tonnes special steel for Navy's warship INS Nilgiri

State-owned SAIL on Thursday said it has supplied 4,000 tonnes of special steel for INS Nilgiri, which was commissioned on Wednesday. INS Nilgiri, INS Surat, and INS Vaghsheer were the three Indian Navy warships commissioned at the Naval Dockyard in the presence of Prime Minister Narendra Modi in Mumbai. Steel Authority of India Ltd (SAIL) has supplied the entire 4,000 tonnes of special steel for INS Nilgiri. The special steel provided by SAIL includes DMR 249A grade hot-rolled (HR) sheets and plates, according to an official statement. SAIL's Bokaro Steel Plant contributed about 2,000 tonnes of HR sheets and plates, with an additional 1,600 tonnes and 400 tonnes of plates supplied by the Bhilai and Rourkela steel plants, respectively, the Ministry of Steel said. INS Nilgiri, the lead ship of the Project 17A stealth frigate class, represents a significant advancement over the Shivalik-class frigates. P17A ships are guided missile frigates, each of which are 149 metres long, with .

SAIL supplies 45,000 tonnes of steel for upcoming Maha Kumbh Mela

SAIL, country's largest steel maker, on Thursday said it has supplied approximately 45,000 tonnes of steel for the upcoming Mahakumbh Mela which is one of the biggest religious congregations in the world. Prayagraj in Uttar Pradesh will host the Maha Kumbh Mela from January 13 to February 25. The total quantity of steel supplied includes chequered plates, hot strip mill plates, mild steel plates, angles and joists, the state-owned firm said in a statement. Steel Authority of India Ltd (SAIL) had also supplied steel during the Mahakumbh Mela of 2013. The steel supplied by SAIL will play an important role in supporting the construction of various temporary structures essential for the smooth conduct of the Mahakumbh Mela. These include pontoon bridges, passages, temporary steel bridges, substations and flyovers, the statement said. Major customers for this steel supply, include the Public Works Department, Uttar Pradesh State Bridges Corporation, Electricity Board and their ...

SAIL secures 'Great Place to Work' certification for 2nd time in a row

State-owned SAIL has been certified as 'Great Place to Work' for the second time in a row. SAIL secured the certification following a comprehensive survey conducted by Great Place to Work Institute, based on direct feedback from employees at SAIL. "Steel Authority of India Ltd (SAIL) has earned the prestigious 'Great Place to Work' certification for January 2025 to January 2026, awarded by the Great Place to Work Institute, India," the steel ministry said in a statement on Monday. The PSU was first certified for December 2023 to December 2024. "SAIL's consecutive certification as a 'Great Place to Work' reaffirms SAIL's ongoing dedication to foster an exceptional workplace culture and provide a positive employee experience built on trust, collaboration and employee empowerment," company's chairman Amarendu Prakash said. The Great Place to Work Institute is a global firm that recognises employers creating outstanding employee experiences through a rigorous evaluation process. ***

Bhilai Steel Plant to set up 200-Kw solar power plant at Maitri Bagh zoo

Elevated solar power is a solar panel installation method that involves mounting solar panels on a structure above the ground or roof

JSW Steel, SAIL in discussions with Mongolia for coking coal shipments

JSW Steel, the country's biggest steelmaker by capacity, plans to buy 2,500 metric tons, while SAIL aims to import 75,000 metric tons of the steelmaking raw material from Mongolia

SAIL willing to participate in Critical Mineral Mission: Chairman Amarendu

SAIL, the country's largest steel player, is willing to participate in the Critical Mineral Mission, which aims to secure the country's critical mineral supply chain by ensuring mineral availability from domestic and foreign sources, the company's Chairman Amarendu Prakash said on Thursday. The Union Budget 2024-25 had proposed launching a Critical Mineral Mission for domestic production, recycling of critical minerals, and overseas acquisition of critical mineral assets. "FM Nirmala Sitharaman announced the Critical Mineral Mission. In that mission a lot of things will be discussed, all possibilities will be discussed. So we will be watching this and seeing what opportunities are there. "As the Critical Mineral Mission expands and things get discussed, we will be watching and seeing if there are opportunities for exploring something on SAIL's part," the Chairman told reporters on the sidelines of ISA Steel Conclave. The Critical Mineral Mission aims to secure the country's critica

SAIL to make Rs 6,500 cr capex investment in FY25: CMD Amarendu Prakash

Steel Authority of India Ltd will be investing Rs 6,500 crore towards capex during the current financial year as part of its Rs 1 lakh crore investment plan over the next few years, SAIL CMD Amarendu Prakash said on Friday. Speaking to mediapersons on the sidelines of a programme organised by Indian Steel Association here, Prakash said the steel industry approached the government seeking measures to control the dumping of cheap metal by China into India and hoped that steps will be taken to address the menace. "This year, the capex target is Rs 6,500 crore. We also have regular capex on maintaining our facilities, as well as debottlenecking exercises. Most of the capex expansion (Rs 1 lakh crore by 2030) will start flowing from FY26. In the first phase from (the capacity) 20 million tonnes, we go to 35 million tons tonnes per annum by 2031. In the next phase, we will make it 50 million tonnes," the SAIL CMD told reporters. In the past, SAIL management had informed investors about a

21 workers under medical observation after fire at SAIL's Bokaro plant

Around 15 workers of SAIL's Bokaro Steel Plant have been kept under medical observation after a fire broke out on Saturday morning, an official said. This is a precautionary measure and all of them are out of danger, he said. There was no report of any fatality, the Steel Authority of India Ltd (SAIL) official said. The incident took place when maintenance work was underway in the mixed gas pipeline of the Bokaro plant, he said. There has been no leakage of any gas from the pipeline, and the situation is completely under control, the official said. The fire has been extinguished and senior officials are camping at the spot, he added.

SAIL Q3 results: Net profit falls 22% to Rs 423 cr, dividend declared

State-owned Steel Authority of India Ltd (SAIL) on Monday reported a 22 per cent fall in its consolidated net profit to Rs 422.92 crore for the quarter ended in December 2023 due to lower income. The steel maker had posted a net profit of Rs 542.18 crore during the October-December period of 2022-23. The company's total income fell to Rs 23,492.33 crore in the third quarter of FY24 from Rs 25,140.16 crore a year ago, according to an exchange filing by the company. Expenses stood at Rs 23,140.81 in the reporting quarter as against Rs 24,825.11 crore in the third quarter of last fiscal. Steel Authority of India Ltd (SAIL), under the Ministry of Steel, is the country's largest steel manufacturing entity having a total installed capacity of around 21 million tonnes. The Board of Directors has also declared an interim dividend of Re 1 per equity share for FY24 and set February 20 as record date for the purpose of payment of interim dividend.

Steel Authority suspends two directors at direction of anti-graft ombudsman

The suspension will not affect the company's performance, Chairman Amarendu Prakash said in a statement

Govt not planning higher taxes on steel imports despite industry's demand

Steel mills want authorities to raise taxes from the prevailing 7.5% on several steel products to curb imports

Steel industry hopes Budget will focus on infra, fair trade measures

Companies want support for capacity addition and anti-dumping measures against substandard imports

SAIL enters deal with Chennai-based Ram Charan for managing emissions

Agreement is for multiple solutions like converting emissions to value-added products and fuel

SAIL plans to expand capacity by 15 million tonnes in phase 1: Chairman

State-owned steel maker SAIL has started working on plans to expand its installed capacity by 15 million tonnes (MT) in the first phase, the company's Chairman Amarendu Prakash said. Its current installed steel-making capacity is about 20 million tonnes per annum (MTPA), Prakash said. "It has been kicked off. In the first phase, we are expanding it to 35 MT. So, phase 1 is of 15 MT," the chairman said in a reply to a question on SAIL's expansion plans. On the timeline and investment amount involved in the expansion plan, he said the company is actively working on detailed project reports (DPRs) and sharing any number will be a difficult task at present. When asked about the funding model, Prakash said SAIL will use its own funds and also seek market support to fund the expansion. "It (the funding) will be a mix of both internal accruals and market. The steel industry is a huge capex-intensive industry. So, we will be in the market for funds," he noted. The company will not only e

SAIL to increase coking coal purchases from Russia, expects 4 shipments

Australia accounts for more than half of India's coking coal imports of around 70 million metric tonnes a year. India also imports coking coal from Russia and the United States

LIC sells 2% shares in Sun Pharma via open market sale, stake now at 3.012%

The transaction was done via open market sale and the stake was sold between July 22 and September 13

Procurement by CPSEs via GeM grew by 74% to Rs 42,510 crore in Apr-Jul

CPSEs account for around 53% of overall transactions on GeM

SAIL produces record 18.28 MT crude steel; 19.40 MT hot metal in FY23

State-owned SAIL has produced a record 18.28 million tonnes (MT) of crude steel during financial year 2022-23, registering a year-on-year rise of 5.3 per cent. The production of hot metal also rose by 3.6 per cent to 19.40 MT during the financial year ended March 31. In a statement, the Steel Authority of India (SAIL) said it has achieved the best-ever annual production during FY23. "The company recorded 19.409 MT hot metal and 18.289 MT crude steel production with a growth of 3.6 per cent and 5.3 per cent, respectively over the previous best in FY22," the statement added. The steel giant further said it is continuously ramping up its production over the years with a focus on more value-added and special-steel production. SAIL, under the Ministry of Steel, is the country's largest steel producer with an annual installed capacity of around 20 MT. It has five integrated and three special steel plants across various locations in the country.

Govt to initiate closure of SAIL's steel unit in Bhadravathi: MoS Finance

The government has decided to shut SAIL's loss- making Visveswaraya Iron & Steel Plant (VISP) at Bhadravathi in Karnataka, Parliament was informed on Monday. The government had originally planned for privatising VISP and had invited Expression of Interest (EoI) for selling SAIL's 100 per cent stake in the unit in July 2019. However, in October last year, the government decided to scrap the strategic disinvestment plans of VISP due to low bidder interest. In reply to a question in the Lok Sabha, Minister of State for Finance Bhagwat Karad said the shortlisted bidders had expressed inability to participate in the sale process of VISP. "On account of old machinery, sub-optimal size, continuous losses and shutdown of blast furnace for a long time, it has been decided to initiate the process for closure of this unit," Karad said. The Cabinet had in October 2016 cleared strategic disinvestment of SAIL's 100 per cent stake in VISP.