The Union Steel Minister, Shri Beni Prasad Verma has said that India is the 4th largest steel producer in the world and will soon be the second largest. He said this while addressing the 46th Annual Conference of World Steel Association here today. He said that World’s Crude steel production has increased steadily in the

Steel sector trends
· India became the 4th largest producer of crude steel in the world in 2010 as against the 8th position in 2003 and is expected to become the 2nd largest producer of crude steel in the world by 2015.
· India also maintained its lead position as the world’s largest producer of

NLMK, one of the world’s leading steel companies, today announced the acquisition of the National Laminations group, an electrical steel service center in India, for a total consideration of US$8 million.
This acquisition will enhance NLMK’s position in the Indian market as one of the leading suppliers of grain-oriented electrical steel, controlling production from crude steel

According to the Business Standard, Kolkata-based Concast Group has acquired SPS Group’s Jharsuguda-based steel plant – SPS Steel And Power Limited for Rs.800 crore.
Concast reportedly paid Rs.125 Crore upfront in cash and the balance will be paid in the form of interests and repayment of loan incurred by SPS. Post acquisition, the company will be

Sesa Goa Limited (SGL) has purchased the assets of the upcoming Steel Plant Unit of Bellary Steel & Alloys Limited (BSAL). The investment is for an all cash consideration of Rs 220.00 Crore. BSAL’s secured creditors, represented by IFCI Ltd, had taken over possession of the properties of BSAL in association with the official liquidator.
BSAL

Amtek Auto Ltd Monday acquired 10 per cent stake in Garima Buildporp Pvt Ltd. Garima Buildporp Pvt Ltd is the holding firm of OCL Iron and Steel Ltd. The deal is expected to enable Amtek Auto to source steel from Garima for manufacturing auto components. Garima Buildporp, a wholly owned subsidiary of Gateway Impex Private

Japanese Steel maker Sumitomo Metal Industries is to acquire a stake interest in another Indian firm, after acquiring an interest in Bhushan Steels’ SPV of 6 MT steel plant project in West Bengal. Sumitomo said it is set to acquire a 5.88 per cent shareholding in Steel Strips Wheels Ltd for an investment of $10

In a move that threatens to curtail Korean steel giant’s investment in India, the Korean firm, Posco, said the Indian Federal government instructed the Orissa state government to halt land acquisition for the company’s proposed steel manufacturing plant in Orissa. The move by the Indian government threatens the $12 billion proposed steel plant construction Posco