Maharashtra clears 937 hectares for Gadchiroli steel expansion Steel stock surges 29% in just two days Steel output rises 14% to 9.25 MT Infrastructure boom fuels India’s steel consumption
The Union steel ministry has proposed a ₹400 crore revival package for SAIL’s Salem Steel Plant to restore operations and preserve employment. The stainless-steel mill currently produces under 100,000 tonnes annually against a 360,000-tonne installed capacity. The funding aims to revive utilisation to 90–100% through repairs, secure scrap supplies, and balance-sheet support.
The plan prioritises an electric-arc-furnace (EAF) route for scrap processing and a market pivot toward retail kitchenware and homeware under the SAIL brand, with an indicative target of capturing 10% market share by 2030. Two consultants-Metalist for operations and McKinsey for business redesign have been engaged.
Early steps have yielded gains: improved cold-rolling performance, longer refractory life, and a fuel switch to LNG that has cut costs by about 12%. Management also plans product diversification into rolling-stock parts, bridge elements and auto-grade components. No final approval timetable or implementation milestones have been announced.
Also Read : SAIL awards major expansion packages to L&T for IISCO and Bokaro plants SWMAI 55th AGM flags wire-rod supply gap,competitiveness and exports
REC Ltd would grant a ₹1,869 crore term loan for the 624 MW Kiru Hydro Electric Project in Kishtwar,...
Mid Corporate 25-Apr-2024
1️⃣ Green TMT Bars promote sustainable construction with low-emission manufacturing.2️⃣ The initiati...
Business 31-Mar-2025
HRC prices in India have increased by up to ₹1,200 per tonne. Supply constraints due to production...
Business 12-May-2025
Due to ongoing geopolitical challenges and declining commodity prices, goods exports in March year-o...
Press Releases 16-Apr-2024
The Union Cabinet has approved a significant ₹8,500 cr incentive scheme for coal gasification projec...
Announcement 24-Jan-2024
Petronet LNG, India's largest gas import terminal operator, has issued a warning to its customers re...
Mid Corporate 31-Jan-2024