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voda 3 maart 2022 06:51

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TMK Unites All IT Divisions under TMK++ brand

Strategic Research Institute
Published on :
03 Mar, 2022, 4:51 am

Russian Pipe Metallurgical Company TMK has created the TMK++ brand, which unites the areas of development and support of IT solutions within the company's perimeter. The TMK++ brand will be used to reengineer information systems, develop multi-level integration systems, automate business processes, and provide technical support and consulting services. The TMK++ ecosystem includes the Infrastructure, Development, Digital, Cybersecurity, Architecture and Customer Service areas. Company divisions under the TMK++ brand will continue to implement large-scale applied projects, starting with the global architecture of IT solutions, the implementation and development of ERP systems, MES systems and other CRM-class information systems, integrated sales and production planning, electronic document management systems, auxiliary production systems and ending with the technical architecture and infrastructure.

Consolidation of the IT function under the TMK++ brand will increase the efficiency of the company's work, help strengthen consumer confidence and create a positive image of TMK among employees and potential job seekers. Also, a single IT brand will contribute to the synergy of IT teams of enterprises within TMK.

voda 3 maart 2022 06:51

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Borusan Mannesmann Deploying AI to Prevent Work Place Injuries

Strategic Research Institute
Published on :
03 Mar, 2022, 4:54 am

Turkish pipe maker Borusan Mannesmann is implementing a new Image Processing project to create a safer and healthier work environment and to prevent injuries. With the OHS and Image Processing Project, Borusan will detect the controls for occupational health and safety, rule violations, near-misses, dangerous scenarios and work accidents, and we will analyze the events in order to avoid these situations. The software will constantly improve itself with machine learning and will more successfully catch up with the accidents and risky situations. Each caught case will be reported to the OHS unit and relevant actions will be taken. The project, which started with analysis & preliminary studies in the second quarter of 2021, is planned to be implemented at the end of the year.

In the project, in which artificial intelligence, machine learning and image processing technologies are used, demos and pilot studies have started on 10 cameras. With the successful completion of the works, the integration of the system will be provided to all remaining facilities and cameras. It is planned to use 100 cameras in the first 3 years of the project, which includes OHS units, IT and Industry 4.0 teams at all our facilities, and more than 350 cameras in total when all phases are completed. The project becomes extremely valuable as it creates the chance to detect environmental problems such as fire and oil leakage in the following phases.

voda 3 maart 2022 06:52

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Danieli to Upgrade Bar & Spool Mill of Ferriere Nord

Strategic Research Institute
Published on :
03 Mar, 2022, 5:01 am

Pittini Group’s Italian steelmaker Ferriere Nord has selected Danieli Automation to upgrade the control system of its bar and spooler mill in Osoppo. Interfaced with ERP and caster process control, the Danieli Automation solution will improve production management, tracking production from furnace charge, supporting the marking robot and managing bundle and coil reports. The process control system will manage the rolling schedule, equipment setup and thermal setup for quality production of straight and spooled bars. Quality Data Recording -QDR and definition of quality rules will be provided for final product-quality assessment.

The new process control system also will allow the management of shifts and crew, and web reports for production and quality will be issued for inter-company and customer use.

The system being modular and scalable, further functions such as management of workshop and equipment, consumption accounting and billet-yard management might be integrated in a future step.

The project will be implemented in the coming months.

voda 3 maart 2022 06:52

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Hoa Phat’s Construction Steel Sales Surges 2.3 Times in February

Strategic Research Institute
Published on :
03 Mar, 2022, 5:03 am

Vietnamese steel maker Hoa Phat’s construction steel sales volume reached 450,000 tonnes in February 2022, up 2.3 times YoY & up 17% MoM. With 250,000 tonnes, the Northern region recorded a sudden increase of nearly 3 times over the same period last year, accounting for 56% of total sales of Hoa Phat’s construction steel last month. The central and southern regions also recorded strong growth, representing 2.5 and 1.5 times respectively over the corresponding period last year. The export of construction steel reached 60,000 tonnes, nearly double the same period last year. Hoa Phat’s construction steel has received export orders until May 2022 with total volume of 720,000 tonnes.

In the first two months of the year, Hoa Phat’s construction steel sales reached 828,000 tonnes, an increase of 2.2 times compared to the same period in 2021. In which, the amount of exported construction steel reached 174,000 tonnes, 2.6 times higher than the same period last year. Its main markets include Singapore, Hong Kong, Canada, Japan, South Korea and Cambodia etc.

Rebar demand from public investment projects in Vietnam is increasing, with Vinh Tuy Bridge’s phase 2 in Hanoi, construction packages on North-South Expressway, Trung Luong My Thuan Expressway, large hospitals in Ho Chi Minh City, Tan Son Nhat airport repair project. With the market showing many positive signals, it is expected that Hoa Phat's finished construction steel sales volume in 2022 will grow by over 20% compared to 2021.

voda 3 maart 2022 06:58

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Ryerson Acquires Apogee Steel

Strategic Research Institute
Published on :
03 Mar, 2022, 5:07 am

Leading US steel processor & distributor Ryerson Holding Corporation announced its acquisition of substantially all of the assets of Mississauga in Ontario in Canada based sheet metal fabricator Apogee Steel Fabrication Incorporated. Apogee has been serving customers in Canada & US for over 30 years. They are a full-line fabrication company providing sheering, punching, forming, and laser cut processing in addition to welding and hardware assembly services. Operating a robust quality assurance program, Apogee provides complex fabrication assemblies in stainless steel, aluminum, and carbon sheet.

Ryerson is a leading value-added processor and distributor of industrial metals, with operations in the United States, Canada, Mexico, and China. Founded in 1842, Ryerson has around 4,000 employees in approximately 100 locations.

voda 3 maart 2022 06:58

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Engie & Posco Sign MoU for Green Hydrogen Production

Strategic Research Institute
Published on :
03 Mar, 2022, 5:10 am

Global low carbon energy company Engie & leading South Korean steel-manufacturer Posco have signed a Memorandum of Understanding to explore joint development opportunities for green hydrogen production and related infrastructure in the Middle East, Australia and Latin America. Under the MoU, ENGIE will leverage its existing industrial-scale renewable hydrogen value-chain experience to support POSCO's hydrogen production. The MoU sets to support POSCO's objective of securing a steady, competitively priced supply of green hydrogen, enabling its transition to green steelmaking and to participation in green hydrogen economy.

A key aspect of the deal is to target cost-competitive production of green hydrogen and with the target focus on regions with high renewable energy production the facilities created in these areas will support this.

The MOU supports ENGIE's ambition to achieve net-zero carbon by 2045, and POSCO's ambition to realize a green hydrogen base in their steel business by 2050 and become a leader in the age of post-carbon hydrogen in steelmaking, fostering the growth of hydrogen ecosystem across the entire value chain.

voda 3 maart 2022 06:59

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Corinth Pipeworks Commits to Science Based Targets Initiative

Strategic Research Institute
Published on :
03 Mar, 2022, 5:13 am

Cenergy Holdings Greece based Corinth Pipeworks has submitted its commitment to the Science Based Targets Initiative. Corinth Pipeworks is one of the world’s leading manufacturers of steel pipes and hollow sections for the energy and construction sectors, committed in making a positive contribution to the energy transition and to tackle climate change, through new technological solutions that allow the increasing use of renewable sources in the energy mix and through the development of innovative products and the reduction of the carbon footprint of our production activities. The Company commits to develop science-based targets according to the SBTi Net-Zero Standard announced on October 28th, 2021 which includes specific near-term target of 5-10 years requirements combined with net-zero target requirements by no later than 2050. According to them and contributing to the Business Ambition for 1.5 degree Celsius campaign, the Company aims to achieve an aggressive decarbonization path of its Scope 1 and 2 emissions by at least 4.2% per annum and Scope 3 by a minimum of 2.5% on average annually in line with the Paris Climate Agreement.

As a next step, Corinth Pipeworks will further develop and specify a clearly defined path to reduce emissions in line with the SBTi’s net-zero criteria which will be submitted for official validation.

The Science Based Targets initiative is collaboration between Carbon Disclosure Project, the United Nations Global Compact, World Resources Institute and the World Wide Fund for Nature. The SBTi helps companies establish science-based targets to reduce greenhouse gas emissions and transform business operations to fit the future low-carbon economy. SBTi’s framework is the world’s first and only science-based comprehensive assessment that aligns corporate net-zero targets with climate data. Targets adopted by companies to reduce greenhouse gas emissions are considered to be science- based if they are in line with what the latest climate science says is necessary to meet the goals of the Paris Agreement to limit global warming to well below 2 degree Celsius above pre-industrial levels and pursue efforts to limit warming to 1.5 degree Celsius.

voda 3 maart 2022 06:59

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POSCO Launches Posco Holding for Non-Steel Business

Strategic Research Institute
Published on :
03 Mar, 2022, 5:15 am

South Korea's steelmaker Posco has launched a holding company to better nurture non-steelmaking businesses, such as battery materials and hydrogen, to move forward with shareholders’ approval in January of a plan for the steelmaker to transform into a holding company by splitting it into two business entities. After the breakup, the steelmaking group's holding company, Posco Holdings Inc, will focus on charting out future business, research and development, and investment. Posco's affiliates, such as Posco Chemical and Posco Energy, will be under the wing of the holding firm. POSCO Group Chairman & Chief Executive Mr Choi Jeong-woo said “POSCO played a role about 50 years ago when the steel was South Korea’s future growth industry. POSCO Holdings will now continue the role in the future eco-friendly materials sector, a future industry.”

POSCO Holdings Inc aims to ramp up operating profits from the non-steel business to 50% of the entire group’s profit from the current 20%, tripling the corporate value to some KRW 130 trillion (USD 107.7 billion) from KRW 43 trillion in 2021

Posco Holing plans to

1. To increase production capacity of cathode & anode materials used for batteries to 420,000 tonnes & 260,000 tonnes, respectively by 2030, by adding facility in China & through a joint venture with General Motors of the US

2. To achieve production of lithium & nickel of 220,000 tonnes & 140,000 tonnes, respectively by 2030, through equity stakes in mines in Argentina, Australia and Indonesia

3. Will also spend KRW 10 trillion (USD 8.3 billion) on hydrogen business to produce 500,000 tonnes of hydrogen per year by 2030. By 2050, it targets a production capacity of 7 million tonnes, becoming one of the world’s top 10 players.

The steelmaking business will remain named Posco, which will be wholly owned by Posco Holdings and continue to be unlisted. It will spend KRW 2 trillion to reduce carbon emissions from steelmaking activities to meet beyond 10% cut by 2030. It will spend KRW 12 trillion to bolster overseas steel capacity to 23.1 million tonnes and enhance networking with raw materials and energy partners for green steelmaking goal. It is mulling hydrogen-backed facility opening in India and output expansion in Indonesia. It will seek a joint venture in the US amid strong push to green energy.

voda 3 maart 2022 08:51

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Indian HRC offers remain elusive amid Ukraine-Russia war
185 Views

The Russian invasion of Ukraine has created uncertainty for Indian hot rolled offers, with mills not indicating prices and only reacting to enquiries. For the second consecutive week, mills have refrained from offering exports, sources inform Kallanish.

HRC prices this week are assessed at $870-880/tonne fob India, equal to the most recent deals that took place last week. Quotes have been heard at above $950/t fob India but no firm confirmation has been received by sources.

“Indian mills are expected to resume floating export offers in the coming few days,” informs a senior trader from a reputed trading firm. “If India comes with high numbers, then it is highly possible that buying Chinese HRC, even with paying duties, would become a cheaper option for European buyers.”

Domestic retail offers for E250 grade HRC have surged by INR 3,000/t ($40-52) on-week to INR 69,000-70,000/t ex-Mumbai. Offers for E350 and galvanized plain sheet are pegged at INR 71,500-72,000/t ex-Mumbai and INR 77,500-78,000/t ex-Mumbai, respectively.

“The retail market for HRC is seen majorly surging this week because of the positive sentiment building up for exports,” says a domestic trader.

Indian mills have also refrained from offering HRC to Vietnam and other Southeast Asian nations. No firm offers were noted this week.

“Mills are currently not interested to offer to any region … They are currently waiting for more clarity on this Ukraine-Russian war,” informs a trader active in Vietnam. “Prices could go up to a high level, but again, too much of a hike would impact the existing markets of GCC and Vietnam, and might open the doors to competitors.”

Kallanish heard a deal for pipemaking grade HRC to Oman at $875-880/t fob India, equating to $912/t cfr Sohar, for April shipment, made under a long-term contract. However, apart from this deal, no firm offers were floated to the GCC region.

“There are no firm offers from India to the GCC,” says a trader based in United Arab Emirates. “India has become reactive, not proactively indicating offers but only responding to enquiries originating from Italy and other European nations.”

In Europe, there was a rumour circulating of a HRC deal concluded by an Indian mill at $1,020-1,025/t cfr Antwerp last week, but this was not confirmed by the seller.

Amid the Russian invasion of Ukraine, India is seen as an alternative supplier to fill the gap left by missing CIS material. As of 1 March, India had exhausted 72,877 tonnes of the total quota of 166,028t allocated by the EU for March-quarter Indian-origin HRC imports. Moreover, the full 167,872t quota is available for the June quarter.

Considering the potential demand from Europe and Turkey on the one hand, and downward pricing pressure from China on the other, Indian mills will aim for a balancing act by hiking prices but remaining competitive.

Sayed Aameer India

voda 3 maart 2022 17:11

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ArcelorMittal sluit staalfabriek in Oekraine
Om veiligheid personeel te garanderen.

(ABM FN-Dow Jones) ArcelorMittal heeft besloten zijn staalproductie in het Oekraïense Kryvyi Rih stop te zetten. Dit meldde de staalreus donderdagmiddag.

Kryvyi Rih is één van Europa's grootste staalfabrieken en heeft ongeveer 29.000 werknemers en onderaannemers in het land.

De staalproducent had eerder de productie teruggebracht tot een technisch minimum, dat wil zeggen ongeveer een derde van de gebruikelijke productie, maar besloot de productie volledig stop te zetten, "om de veiligheid en beveiliging van onze mensen en middelen te waarborgen."

Het proces om de hoogovens van de fabriek veilig stil te zetten, zal tot tien dagen moeten in beslag nemen, zei ArcelorMittal.

Het bedrijf voegde eraan toe dat het van plan is de productie opnieuw op te starten wanneer de omstandigheden het toelaten.

Door: ABM Financial News.

info@abmfn.nl

Redactie: +31(0)20 26 28 999

voda 4 maart 2022 06:27

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Carbon Re Joins ResponsibleSteel

Strategic Research Institute
Published on :
04 Mar, 2022, 5:18 am

ResponsibleSteel has recently welcomed Carbon Re as a new member. Carbon Re CEO Mr Sherif Elsayed-Ali said "Carbon Re is delighted to become a member of ResponsibleSteel, the leading global forum for achieving sustainability in the steel industry. We look forward to collaborating with members to advance the state-of-the-art of artificial intelligence to accelerate the decarbonization of steelmaking."

Carbon Re is a UCL and Cambridge University spin-out advancing the state-of-the-art of artificial intelligence to accelerate decarbonization in steel, cement and other energy-intensive industries. Carbon Re exploits the huge potential of AI and machine learning to model energy-intensive systems and develops novel solutions to reduce their carbon intensity. Their first product is a software solution enabling producers to optimize fuel combustion and simultaneously reduce costs and emissions, with no CAPEX.

A not-for-profit organization, ResponsibleSteel is the steel industry’s first global multi-stakeholder standard and certification initiative with a mission to maximize steel’s contribution to a sustainable society through cooperation and mutual commitment by companies at all levels of the steel supply chain, representatives of civil society and other stakeholders. ResponsibleSteel provides the forum for this multi-stakeholder approach.

voda 4 maart 2022 06:28

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Harju Elekter to Supply Motor Controls to Big River Steel

Strategic Research Institute
Published on :
04 Mar, 2022, 5:21 am

Harju Elekter Group’s Lithuanian subsidiary Harju Elekter UAB has signed a contract with US Steel Corporation’s Exploratory Ventures LLC to produce low voltage drives and MCC systems to control 1500 motors that will be used in new Big River Steel facility in Arkansas in US. The beginning of production and supplies are scheduled for this year. Production and deliveries will take place until April 2023. The approximate volume of the contract is 10 million euros.

Harju Elekter UAB provides detail engineering, contract manufacturing and full load testing services for marine and industrial system integrators.

Harju Elekter is an international industrial group with more than 50 years of experience, with its main activity being the development and production of electrical and automation solutions. A portion of Harju Elekter’s technical solutions are aimed at the renewable energy sector, thus offering complete plans for solar power plants, electric vehicle charging stations and other related solutions. Its factories in Estonia, Finland, Sweden, and Lithuania employ approximately 900 specialists.

voda 4 maart 2022 06:28

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John Cockerill to Supply CGAL & CGL to AM/NS India

Strategic Research Institute
Published on :
04 Mar, 2022, 5:24 am

ArcelorMittal Nippon Steel India Limited has entrusted John Cockerill India Limited, formerly known as CMI FPE Limited, for supply of two new steel processing lines to be installed at the client's Hazira Works. In consortium with its other Group entities, John Cockerill India Limited is to supply a Continuous Galvanizing and Annealing Line, CGAL, and a new Continuous Galvanizing Line, CGL. The total value of contract for scope of work to be executed by John Cockerill India Limited exceeds INR 1000 crores.

Belgian John Cockerill completed the acquisition of Flat Products Equipments (India) Limited in June 2008. John Cockerill has acquired a global leadership position in the design, manufacture, erection and commissioning of Cold Rolling Mill Complexes, Processing Lines, Chemical equipment, industrial furnaces and auxiliary equipments for the world wide steel industry.

voda 4 maart 2022 06:29

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Kardemir Reports Best Ever Profit for 2021

Strategic Research Institute
Published on :
04 Mar, 2022, 5:26 am

Turkish long producer Kardemir Karabuk Demir Celik Sanayi ve Ticaret’s sales revenues increased by 96% YoY to TRY 14.76 billion in 2021 (USD 1.04 billion). It posted a net profit of TRY 3.85 billion (USD 273.7 million) compared to a net profit of TRY 60.65 million in 2020. The company registered an operating profit of TRY 4.79 billion (USD 340.9 million) in 2021, compared to an operating profit of TRY 543.65 million in 2020. EBITDA increased by 288% YoY to TRY 4.9 billion (USD 348.6 million).

-----------------------------------

2021 Operational Highlights

-----------------------------------

Pig Iron – 2.23 million tonne, down 1.5% YoY

Crude Steel - 2.44 million tonne, down by 2.3% YoY

Kardemir’s main plant is located at Karabük in the Black Sea region of Turkey. It produces

Wire Rods

Railway Rails

Railway Wheel

Profiles

voda 4 maart 2022 06:29

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POSCO Orders Trannsfer Press from Schuler Group

Strategic Research Institute
Published on :
04 Mar, 2022, 5:29 am

South Korean steel giant POSCO has ordered a 1,600 tonne transfer & progressive press from Schuler. Schuler’s TML series feature a 4-point suspension and link drive kinematic for low die wear and high levels of uptime. The scope of delivery for POSCO also includes a transfer system and a coil line. Thanks to a special concept, the press can be also used for progressive dies and blanking. In 2003, Schuler had already delivered a blanking line to the customer, followed by a 2,500-ton transfer press in 2018.

The POSCO Group was launched in 1968 as Pohang Iran and Steel Co Ltd, the first integrated steel mill in Korea. With an annual production of 40.6 million tonnes, the South Korean POSCO Group is one of the largest steel manufacturers in the world. At its processing center POSCO-CSPC China (Kunshan, Jiangsu), body and structural parts as well as blanks are formed for the automotive industry.

Schuler AG is a German company headquartered in Göppingen, Baden-Württemberg which operates in the field of forming technology and is one of the world's largest manufacturers of presses.

voda 4 maart 2022 06:30

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SAIL RSP Achieves Best Ever Performances in 11 Months

Strategic Research Institute
Published on :
04 Mar, 2022, 5:31 am

Steel Authority of India Limited’s Rourkela Steel Plant has achieved best performance results in all key production areas in the first eleven months of the fiscal 2021-22. In the April 2021-February 2022 period the plant was successful in producing 3.927 million tonne of hot metal, 3.618 million tonne of crude steel and 3.316 million tonne of saleable steel which were its best-ever performance since inception

--------------------------------

April-February Highlights

--------------------------------

Oven pushing from Coke Oven Battery 6 - Best ever figure of 89.2

Sinter production - Highest level of 6.371 million tonne

Plate Mill - All time best 0.499 million tonne of plates

New Plate Mill - Best-ever 0.841 million tonne

Hot Strip Mill 1 – Best ever 1.611 million tonne of HR Coils

Dispatch - All-time high 3.279 million tonne

voda 4 maart 2022 06:30

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TMK Cancells Reorganization of VTZ & ChTPZ Subsidiaries

Strategic Research Institute
Published on :
04 Mar, 2022, 5:33 am

Russian pipe maker Pipe Metallurgical Company TMK announced that due to the current instability in the financial markets, the company has decided to cancel the reorganization of its subsidiaries VTZ JSC and ChTPZ PJSC, under which it was previously planned to spin off VTZ Pipeline Solutions LLC and ChTPZ Pipeline Solutions LLC with a simultaneous merger with TMK Pipeline Solutions LLC, as well as spin-off of ChTPZ Seamless Pipes LLC with a simultaneous merger with SmartMet LLC.

TMK had announced reorganization on 7 February 2022 to increase the efficiency of TMK Group's business, improve its financial condition and corporate structure within the target business divisions, focus management efforts on its main strategic areas of activity, and attract new investors to the identified business areas. The same applies to VTZ JSC and ChTPZ PJSC, which will continue to be the key assets of the Group, continuing to fulfill all their obligations to partners, financial institutions, the state and employees.

TMK TR and SmartMet will own and manage the entire supply and sales chain of their products that exists today at TMK. In addition to production capacities, all competencies, know-how, the quality management system, as well as all technical and managerial personnel of the plants and the TMK management company related to the respective business segments will be transferred to the new companies.

The main objective of TMK TR will be the full implementation of synergies from the merger of the LDP business of the TMK Group and the former ChTPZ Group. All this will allow TMK TR to become the leader of the Russian market in its segment.

As part of the reorganization, PJSC ChelPipe engaged Bank GPB as an agent for interaction with bondholders of PJSC ChelPipe, LECAP as a legal advisor, and LCPIS as an agent for interaction with bondholders-individuals.

voda 4 maart 2022 06:33

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British Steel Plans Special ProfilesService Center at Skinningrove

Strategic Research Institute
Published on :
04 Mar, 2022, 5:37 am

British Steel has submitted the planning application for a GBP 26 million upgrade to its Special Profiles business. The plans for a new service centre at Skinningrove in UK, which include cut-to-length lines, product milling, machining and warehousing operations, would enable the company to make and process an extended range of value-added profiles for the forklift industry. Its plans for the new service centre, which would sit at the heart of the company’s Skinningrove site, have been submitted to Redcar and Cleveland Borough Council for approval. They were designed by lead architects Building Design Northern and have already received widespread support from British Steel’s customers. These plans represent the biggest single investment in our Special Profiles business for more than 30 years. If plans are approved, British Steel hopes to start building works later this year with commissioning expected to start in August 2023.

The plans will enable British Steel to manufacture world-class products to the tightest of tolerances. They will also enable British Steel to explore new growth opportunities for although primary product offering would be for forklift mast production, British Steel expects to be able to expand this to include other product applications too.

The new Skinningrove facility is designed to replace the services currently offered at the company’s site in Darlington, which stores and cuts profiles to customer requirements.

British Steel’s Special Profiles business makes components for a wide range of sectors including the forklift and earthmoving industries.

voda 4 maart 2022 06:33

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Sinosteel Orders Hydrogen-Based DRI Plant from Tenova

Strategic Research Institute
Published on :
04 Mar, 2022, 5:40 am

Beijing China based Sinosteel Engineering & Technology Co has recently contracted Tenova for the design and supply of a hydrogen-based 1 million tonnes per year ENERGIRON direct reduction plant. The plant will be installed at Baosteel Zhanjiang Iron & Steel Co Ltd in the Zhanjiang Economic and Technological Zonein Guangdong Province in China. The new ENERGIRON plant will use mainly hydrogen as reducing gas with the possibility to mix it with Natural Gas & Coke Oven Gas.The plant has in fact the flexibility to use different reducing gases in any combination or proportion, using the same ENERGIRON ZR scheme. The plant will also be designed to have the capability to capture and sell CO2 on the commercial market; this will further reduce the overall plant CO2 emissions and provide an additional revenue stream for the plant operations.

The plant will produce cold DRI pellets through an external cooler for potential future hot DRI production and transport, using HYTEMP system, to a new EAF mill to be located next to the ENERGIRON plant.

The ENERGIRON technology, jointly developed by Tenova and Danieli, is the most flexible DR technology for virgin metallic unit production in terms of makeup gases utilization and is already designed to maximize the reduction of CO2 emissions.

voda 4 maart 2022 06:34

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SAIL to Start Capacity Expansion for 50 Million Tonne

Strategic Research Institute
Published on :
04 Mar, 2022, 5:44 am

Financial Express reported that Indian steel giant Steel Authority of India Limited is set to embark on the next phase of its capacity expansion programme to increase its crude steel-making capacity to 50 million tonne per annum by 2030 from a little over 19 million tonne per annum now, as per its Vision 2030 document, is in sync with the National Steel Policy 2017 which envisages the country’s steel-making capacity to reach 300 million tonne per annum by 2030-31. SAIL Chairperson Ms Soma Mondal in an interview told Financial Express “We are planning the next phase of modernisation and expansion. Our debt-equity ratio of 0.42, as on 31 December 2021, gives us the confidence and the opportunity to embark on the next phase of capacity expansion.”

Ms Mondal alsso told “SAIL’s immediate priorities are raising capacity utilisation, enhancing share of special and value-added steel products in the product basket, improving productivity and techno-economics and cost optimisation, apart from reducing debt.”

SAIL has performed very well in the first nine months of the current fiscal. Its production of hot metal, crude steel and saleable steel were all the best-ever during the nine-month period of the current fiscal. During the April-December period, its net profit went up multi-fold to INR 9,579 crore, compared to INR 406 crore in the corresponding period last fiscal. Higher prices of steel have helped SAIL pare down its debt by INR 16,222 crore in the first nine months of the current fiscal. At the end of December 2021, the company’s debt stood at INR 19,128 crore and its debt-equity ratio at 0.42. As of March 2020, SAIL had a debt of INR 51,481 crore and its debt-equity ratio was at 1.36.

Vertraagd	14 jun 2024 17:36
Koers	21,820
Verschil	-0,380 (-1,71%)
Hoog	22,360
Laag	21,740
Volume	4.153.452
Volume gemiddeld	2.688.328
Volume gisteren	2.243.870

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