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voda 7 november 2022 07:23

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Jindal Saw to Acquire Sathavahana Ispat under IBC

Strategic Research Institute
Published on :
7 Nov, 2022, 3:34 am

According to media reports, India’s leading seamless pipes maker Jindal Saw has emerged as the highest bidder for the insolvent Sathavahana Ispat, offering approximately INR 530 crores. Six other companies had submitted expressions of interest namely Vedanta, Welspun Corp, Sarda Mines, Ares SSG Capital (Singapore), Khandwala Finstock, and Trimex Industries.

The only creditor, J C Flower Asset Reconstruction Company, has an acknowledged claim for INR 1747 crore. A group of lenders led by Canara Bank sold all of Sathavahana Ispat's debt to J C Flowers ARC in June of last year at a Swiss auction for INR 410 crore anchor offer from J C Flowers ARC as part of a Swiss auction in May of last year. A counteroffer of INR 531 crore was made by Pridhvi Asset Reconstruction & Securitisation (Paras) Ltd, an ARC, in collaboration with Megha Engineering. The anchor bidder has the option to match the counteroffer in a Swiss auction. Following the filing of a petition by J C Flowers ARC, Sathavahana Ispat entered corporate insolvency one month later.

Sathavahana Ispat was originally promoted by Mr AS Rao in 1989. Sathavahana Ispat is primarily engaged in the manufacture and sale of

Metallurgical Coke with a rated capacity of 450,000 tonnes per annum

Sinter with a rated capacity of 298,000 tonnes per annum

Pig Iron with a rated capacity of 210,000 tonnes per annum

Ductile Iron Pipe 210,000 tonnes per annum

Co-generation cum thermal power of 50 MW.

voda 7 november 2022 07:24

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USITC to Keep AD Duty on Steel Flanges from India, Italy & Spain

Strategic Research Institute
Published on :
7 Nov, 2022, 3:36 am

The US International Trade Commission has determined that revoking the existing countervailing duty order and antidumping duty orders on imports of finished carbon steel flanges from India, Italy, and Spain would be likely to lead to continuation or recurrence of material injury within a reasonably foreseeable time. As a result of the Commission’s affirmative determinations, the existing orders on imports of this product from India, Italy, and Spain will remain in place.

India - 12.58%

Italy - 204.53%

Spain – 24.43%

The five-year (sunset) review concerning Finished Carbon Steel Flanges from India, Italy, and Spain was instituted on 2 May 2022. On 5 August 2022, the Commission voted to conduct expedited reviews. Chairman David S. Johanson and Commissioners Rhonda K. Schmidtlein, Jason E. Kearns, Randolph J. Stayin, and Amy A. Karpel concluded that the domestic group responses were adequate and the respondent group responses were inadequate and voted for expedited reviews.

voda 7 november 2022 07:24

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Cade Approves Gerdau & Randon’s Logistics JV

Strategic Research Institute
Published on :
7 Nov, 2022, 3:35 am

Brazil’s antitrust agency Cade has approved the joint venture between Brazilian steel producer Gerdau and truck semi-trailer producer Randon. The new company will be an association between Gerdau’s subsidiary Gerdau Next and Randon subsidiary Randon Servigos e Participagoes Ltda, providing adequate solutions to the demands of carriers and shippers, by providing leasing services of trucks, semi-trailers and other products related to the transportation and movement of cargo.

Randon & Gerdau had announced on 1 September a partnership to create a joint venture that will provide solutions and services for the leasing of heavy vehicles to be headquartered in São Paulo. The business has an investment of BRL 250 million, with a 50% of each partner in the shares of the new unit, in addition to other sources of funding that may be accessed in the future. The new business will have as its main service the rental of trucks and semi-trailers, seeking to deliver profitable and adequate solutions according to the demand of customers who act as carriers or cargo shippers.

voda 7 november 2022 07:25

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ArcelorMittal’s XCarb Invests in TerraPower

Strategic Research Institute
Published on :
7 Nov, 2022, 3:37 am

World’s leading steelmaker ArcelorMittal has invested USD 25 million in nuclear innovation company TerraPower through its XCarb Innovation Fund. The investment is part of an USD 830 million equity raise TerraPower has concluded, which is the largest private raise among advanced nuclear companies. TerraPower, which was founded by Mr Bill Gates in 2008, entered the nuclear energy arena because the company’s founders saw clean energy as the pathway to lift billions out of poverty. It has spent the last decade investing in and developing ground-breaking nuclear technologies.

Its flagship technology is Natrium, which features a cost-competitive sodium fast reactor combined with a molten salt energy storage system. This combination will provide clean, flexible energy and integrate seamlessly into power grids with high penetrations of renewables. TerraPower is experiencing significant growth, and is currently building its first Natrium reactor, a TerraPower and GE Hitachi technology, as part of the U.S. Department of Energy’s Advanced Reactor Demonstration Program. The facility, being constructed near the site of a retiring coal plant in Kemmerer, Wyoming, will feature a 345 MWe sodium fast reactor alongside an energy storage system that can boost output to 500 MWe during peak demand. Large scale, first-of-a-kind, energy generation projects like the Natrium™ project take years to come to fruition, and TerraPower is targeting an in-service date for the project within this decade.

ArcelorMittal’s XCarb Innovation Fund was launched in March 2021. The fund’s purpose is to supplement the Company’s own extensive Decarbonisation technology development programme, by investing in early stage, breakthrough technologies which hold strong potential to contribute to the Decarbonisation of steelmaking. The fund targets investing in seven technology domains, namely:

Disruption in steelmaking

Waste to gas or biocarbon

Gas reforming/gas transformation technologies

Disruptive hydrogen technologies

Carbon capture, utilization and storage

Long-duration, large-scale energy storage technologies

Clean energy technologies

Since launch, the fund has made investments of USD 122.5 million in five companies – Heliogen, Form Energy, LanzaTech, H2Pro and TerraPower. In September 2021, the Company also committed to an equity investment of USD 100 million over a five-year period when it became an anchor partner in Breakthrough Energy’s Catalyst Program. Breakthrough Energy was founded by Bill Gates and its Catalyst program combines public and private finance to accelerate the development and deployment of four Decarbonisation technologies: direct air capture; green hydrogen; long-duration energy storage and sustainable aviation fuel. It recently announced its first project funding, with USD 50 million granted to LanzaJet’s Freedom Pines Fuels sustainable aviation fuel plant in Soperton, Georgia.

voda 7 november 2022 07:26

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JFE Steel to Divest Stake in JFE Pipe Fitting Mfg to Riken

Strategic Research Institute
Published on :
7 Nov, 2022, 3:39 am

JFE Steel Corporation has entered into a share purchase agreement with Riken Corporation under which a portion of its shares in JFE Pipe Fitting Mfg will be transferred to Riken Corporation on 31 March 2023, leaving JFE Steel with a 9.994% stake in JFE Pipe Fitting. The move is part of JFE Steel’s plan to deploy its corporate resources more efficiently and strategically.

JFE Pipe Fitting, founded in 1935, produces high-quality fittings and prefabricated piping under its Ring brand as a specialized manufacturer of piping systems within the JFE group. With the Japanese population now in decline, the domestic market for piping systems is expected to shrink over the long term. JFE Pipe Fitting aims to develop new products, optimize its production systems and generate new demand, thereby securing sustainable growth.

Riken manufactures automotive and industrial machinery parts, such as piston rings. Under its PLAN2022 medium-term business plan, the company is working to expand its business in automotive fields in principle not centered on internal combustion engines, focusing on areas with which the company has high affinity. The company expects to benefit from solid demand over the medium to long term in view of the important roles many of its piping products play in supporting critical infrastructure. Given the underlying potential for strong growth through the development of new products, Riken aims to strengthen and expand its piping business as the company’s core field.

Overview of JFE Pipe Fitting Mfg

Business: Manufacture and sale of fittings for gas, water and other piping; parts for architectural and industrial machines; and processing of prefabricated pipes

Consolidated sales (FY ending March 2022): 12,469 million yen

Ownership: JFE Steel C86.55%, Osaka Gas 6.06%, Sompo Japan Insurance 2.50%, Shinwa Sangyo 1.56%, Aioi Nissay Dowa Insurance 1.25%, Furubayashi Sangyokigu 1.04% and OTEC 1.04%

voda 7 november 2022 07:27

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Jindal Stainless Reports 48% Dip in Profit in Jul-Sep’22 Quarter

Strategic Research Institute
Published on :
7 Nov, 2022, 3:40 am

India’s leading stainless maker Jindal Stainless announced that its standalone revenue of at INR 5,442 crores, EBITDA of INR 411 crores and PAT of INR 189 crores during July-September quarter of 2022, up 13%, down 42% & down 48% YoY respectively with a sales volume of 270,360 tonnes, up 5% YoY. On a consolidated basis, JSL’s revenue stood at INR 5,605 crores, EBITDA at INR 358 crores, and PAT at INR 152 crores rspctively.

Jindal Stainless said “Globally, demand for stainless steel decelerated throughout Jul-September quarter. This can be attributed to subdued demand in real estate and construction sectors, high energy costs, and aggressive rate hikes by FED, among other reasons. On the domestic front, demand from end-user segments continued to be strong. With JSL’s agility in sales planning, the Company enhanced its focus on domestic sales. As a result, 95% of JSL’s total sales volume catered to domestic customers. The Company supplied new stainless steel grades including 432, along with existing grades like 436L and 439 to auto majors. In the ornamental pipe and tube segment, sales increased by 41% YoY. Demand was also strong in the lift and elevators segment. Indian Railways continued its thrust on increasing its share of business in freight. This led to a 25% jump in JSL’s sales to the railway wagon segment during quarter. Going forward, Vande Bharat train sets will remain a major focus area for Railways.”

Jindal Stainless also said “Despite being suppliers of high quality products, the cost competitiveness of the Indian stainless steel manufacturers has been severely affected by the government’s decision to impose a duty on the export of stainless steel products. This has led to a fall of 60% in the Indian exports of stainless steel flat products between Jun-Aug’22. On one hand, this has disrupted the ongoing expansion plans of domestic producers. On the other hand, it has led to a lack of trust in Indian policies among global customers. Overall, this decision is damaging India’s reputation as a reliable stainless steel exporter.”

voda 7 november 2022 07:28

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Outokumpu Aims to Improve Energy Efficiency Significantly in 2023

Strategic Research Institute
Published on :
7 Nov, 2022, 3:41 am

Finland headquartered stainless steel leader Outokumpu announced that it aims to improve its energy efficiency significantly in 2023 and 2024 amidst the European energy crisis and decided to significantly increase its energy efficiency improvement target and prioritize related investments in 2023 and 2024. It said “So far, Outokumpu’s target has been to improve energy efficiency by 0.5% annually. Until the end of 2024, Outokumpu now aims to improve its energy efficiency by 8% across the group compared to the January–September 2022 level. These measures would correspond to energy saving of approximately 600,000 MWh which is equal to annual electricity usage of 15,000 households.

Outokumpu’s Chief Technology Officer Mr Stefan Erdmann said “The European energy crisis has created a turbulent operating environment. To tackle the uncertainty, we have decided to take immediate action on our own energy efficiency. This means that we will prioritize investments to improve our energy efficiency and also increase related annual capital expenditure by EUR 20 million in 2023 and 2024. The new efficiency measures will support Outokumpu to achieve our ambitious climate targets.”

These additional investments do not impact Outokumpu’s capital expenditure frame of EUR 600 million for the second phase of the strategy by the end of 2025. For 2023 and 2024, the annual capital expenditure remains EUR 200 million.

voda 7 november 2022 07:28

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India's Finished Steel Exports Shrink by 55% YoY in Apr-Oct’22

Strategic Research Institute
Published on :
7 Nov, 2022, 3:43 am

According to the latest data, India’s crude steel production was up 5.3% YoY at 71.3 million tonnes, finished steel output jumped 6.4% YoY to 68 million tonnes, while consumption increased by 11.4% to 65.5 million tonnes during April and October of 2022.

On the other hand, India's finished steel exports dipped by 55% YoY during April-October 2022, after Indian government slapped 15% export levy in May.

Meanwhile, India imported 3.2 million tonnes of finished steel during the period, up 14.5% from a year earlier.

voda 7 november 2022 09:32

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FMG’s Iron Bridge Magnetite Project Marks Ore Feed into Plant

Strategic Research Institute
Published on :
7 Nov, 2022, 4:30 am

Australian iron ore miner Fortescue has marked first ore feed into the processing plant at its Iron Bridge Magnetite project in the Pilbara. Iron Bridge, located 145 kilometres south of Port Hedland, will deliver 22 million tonnes per annum of high grade 67% Fe magnetite concentrate. This product enables Fortescue to enter the high iron ore grade market segment providing an enhanced product range while also increasing annual production and shipping capacity.

Since the investment decision in April 2019, more than 12.8 million workhours have culminated in the design and construction of the mine, pipelines, village and infrastructure at Iron Bridge, supporting more than 3,000 jobs with another 900 full time jobs to be created when the project moves into operations. There are currently 3,470 people working across the Ore Processing Facility and pipelines scope of work.

With first production anticipated in the March 2023 quarter, Iron Bridge will see the world’s fourth largest iron ore miner deliver an enhanced product range. Significantly, it could become one of Fortescue’s first fossil fuel free sites, enabled by the recently announced world leading USD 6.2 billion decarbonisation investment to reach real zero Scope 1 and 2 emissions by 2030.

The nature of the Iron Bridge ore bodies and Fortescue’s innovative use of a dry crushing and grinding circuit together contribute to the project’s operational efficiency across energy, water use and cost.

voda 7 november 2022 11:09

0

Infiniti also leaves the Russian automotive market
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The automotive company Infiniti, which is the luxury vehicle division of the Japanese carmaker Nissan, has announced its withdrawal from the Russian market, the company confirmed to Kallanish.

“In the current conditions, Nissan has decided to leave the Russian market,” it says.

The brand will stop deliveries of new cars, but will continue servicing older models, the manufacturer said in a statement.

“Sayonara means goodbye in Japanese. At Infiniti, we fondly remember our time together: discovering Japanese culture, the Japanese approach to design, home, and time with family,” the message says. “We believe in a bright future, and that you will answer us in Japanese itterashai, which translates as - it's good to go and come back again. We say goodbye to you.”

Earlier, Moscow announced that Japanese carmaker Nissan’s plant in St. Petersburg will become the property of the Russian state (see Kallanish passim).

In October, Mercedes-Benz said it intends to withdraw from the Russian market and sell its stakes in local subsidiaries, including the Mercedes-Benz Manufacturing Rus plant, to the Avtodom dealership holding.

Ford Motor Company also announced it has finalised the exit of its previously suspended operations in Russia through the sale of its 49% stake in the Sollers Ford Joint Venture.

Another Japanese carmaker, Toyota, decided to end vehicle production at its St. Petersburg plant. Russian automotive company Sollers Auto is meanwhile discussing with Mazda the issue of ending car production in Vladivostok and Sollers buying out Mazda's stake in the joint venture.

More than 20 foreign carmakers have suspended production or left the Russian market since Russian forces invaded Ukraine on 24 February.

Carmakers in Russia continued to decrease output in January-September to only 349,000 units, down by 66% on-year. In September alone, almost 24,000 units were produced, down 77.4%.

Svetoslav Abrossimov Bulgaria

rationeel 7 november 2022 15:19

0

TA: OKS

voda 8 november 2022 06:48

0

Algoma Steel Reports 70% YoY Dip in Net Income in Jul-Sep’22

Strategic Research Institute
Published on :
8 Nov, 2022, 3:37 am

Sault Ste Marie Ontario based leading Canadian producer of hot and cold rolled steel sheet and plate products Algoma Steel Group has reported consolidated revenue of CAD 599.2 million for July-September quarter of 2022, compared to USD 1.01 billion in the prior-year quarter. Consolidated income from operations of USD 5.6 million, compared to USD 402.1 million in the prior-year quarter. Net income was CAD 87.2 million compared to USD 288.2 million in the prior-year quarter.

Algoma Steel CEO Mr Michael Garcia said “As previously disclosed, the fiscal second quarter presented a number of operational challenges that adversely impacted our results, while we worked against the backdrop of steel pricing uncertainty. We are focused on overcoming those transitory events to return our facilities to full operating capacity. We estimate the operational challenges to have a financial impact of CAD 130 million on Adjusted EBITDA, with approximately 60% incurred in the second fiscal quarter and the balance to affect the third fiscal quarter. We continue to advance our transformative electric arc furnace project, which remains on time and on budget, and are completing the final stages of the plate mill modernization phase 1 commissioning.”

Average realized price of steel net of freight and non-steel revenue was CAD 1,266 per ton, down 20.6% from CAD 1,594 per ton in the prior-year quarter. Cost per ton of steel products sold was CAD 1,033, up 20.7% from CAD 857 in the prior-year quarter, driven primarily by higher input costs associated with third-party metallurgical coke purchases, natural gas, alloys, and scrap.

Shipments for the second quarter decreased by 25.9% to 435,202 tons, compared to 587,340 tons in the prior-year quarter. The year-over-year decline in shipments was largely attributable to previously disclosed plate mill modernization commissioning delays and production shortfalls at our direct strip production complex related to temporary workforce availability events.

voda 8 november 2022 06:50

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LC Issues Hit Shipbreaking Market Activity in Bangladesh

Strategic Research Institute
Published on :
8 Nov, 2022, 3:39 am

World's leading cash buyer of ships for recycling GMS said that “ Some unbelievably low and unrealistic offers have started to emerge from sub-continent markets this week, and as such, both Owners and Cash Buyers would be well advised to leave ship recycling destinations alone for the time-being, especially until some sort of floor is reached and stability regains a foothold. It has become increasingly difficult to obtain any firm or serious offers from any recycling market, as currencies continue to suffer across all recycling destinations and steel endures further volatile moves this week. Workable LCs are of chief concern in Bangladesh where End Buyers are struggling to obtain any sort of financing from local banks, amidst strict and ongoing governmental regulations on precious foreign currency reserves in the country.”

GMS said “On the rare occasion when an End Buyer is able to open a workable LC in Bangladesh (mostly on smaller LDT tonnage), the numbers offered are so pitifully low, it’s nearly instantaneous to see tonnage withdrawn and re-directed towards competing markets. We have even seen Local Recyclers attempting to fix deals with Cash Buyers and Owners, subject to them obtaining approval from their financing banks within 3-4 days, which of course is never going to work and will see Bangladesh deprived of any meaningful tonnage until the end of the year - or at least until some sort of stability is seen.”

GMS also said “Finally, at the far end, after holding on and displaying some sort of stability (even though it’s in the dumps), things couldn’t get worse for Aliaga Buyers as steel prices took a small tumble this week and the Lira gradually slips further.”

GMS concluded “Overall, the economic situation across the recycling destinations remains precarious, with currencies weakening by the day and a shortage of US Dollars in those countries, governments and banks are failing to sanction suitable financing for a ship recycling that they do not see as imperative under the current climate.”

GMS Price Assessment – India, Bangladesh & Pakistan – Week 44 Down USD 20

Dry Bulk – USD 530-540 per LDT

Tankers - USD 540-560 per LDT

Containers - USD 550-570 per LDT

voda 8 november 2022 06:51

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US Steel Production Shrinks by 5% YoY in YTD 2022

Strategic Research Institute
Published on :
8 Nov, 2022, 3:40 am

American Iron & Steel Institute announced that in the week ending on 5 November 2022, US domestic raw steel production was 1.640 million net tons while the capability utilization rate was 73.5%. Production was 1.828 million net tons in the week ending 5 November 2021 while the capability utilization then was 82.8%. The current week production represents a 10.3% decrease from the same period in the previous year. Production for the week ending 5 November 2022 is down 1.4% from the previous week ending 29 October 2022 when production was 1.663 million net tons and the rate of capability utilization was 74.5%.

Southern: 716 KNT

Great Lakes: 529 KNT

Midwest: 182 KNT

North East: 145 KNT

Western: 68 KNT

Adjusted year-to-date production through 5 November 2022 was 76.347 million net tons, at a capability utilization rate of 78.9%. That is down 4.8% from the 80.220 million net tons during the same period last year, when the capability utilization rate was 81.2%

Broken down by districts, here’s production for the week ending November 5, 2022 in thousands of net tons:

voda 8 november 2022 06:52

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Kocaer Steel Publishes Sustainability Report for 2021

Strategic Research Institute
Published on :
8 Nov, 2022, 3:43 am

Turkish steel maker Kocaer Çelik has published its first Sustainability Report in order to present its sustainability performance to its stakeholders at international standards covering company's activities in 2021. The Global Reporting Initiative Standards have been prepared in accordance with the core option. The report also reveals Kocaer Çelik's compliance with the United Nations Sustainable Development Goals.

Kocaer Çelik Chairman Mr Hakan Kocaer said “As one of Turkey's and Europe's largest steel profile producers, we continue our work. Despite all the difficulties experienced globally in 2021, we achieved our goals and achieved a sales turnover of 473 million dollars. We aim to act with an approach that protects society and the environment, and to internalize corporate social responsibility activities with all our stakeholders, especially our employees, and turn them into a behavior and lifestyle. We have adopted the "Kocaer Management and Excellence System -KYMS" system, which we have commissioned this year and which is entirely our own design, in order to create sustainable profitable growth and create value for all our stakeholders, as a guide for ourselves as a continuous improvement and development methodology.

Kocaer Çelik continues its production activities with a zero waste management approach. Kocaer Çelik, which owns one of the largest rooftop SPPs in the Aegean Region with its 15 million kWh Solar Power Plant investment completed on the roof of all its facilities, meets 33 percent of the electricity it consumes through renewable resources. In addition, the company provides a carbon emission reduction of 5,700 tons, equivalent to planting more than 100 thousand trees per year.

Kocaer Çelik carries out studies for the more efficient use of water. It collects 54,708 cubic meters of rainwater in its factories, especially in order to reduce its water footprint. In addition, it treats 37,800 cubic meters of water per year in biological wastewater treatment plants. Most importantly, it protects groundwater. In 2023, it aims to reduce its water footprint by 5 percent within the scope of ISO 14046.

Kocaer Çelik continues its production activities in Izmir Aliaga, in a total area of 280 thousand square meters, 85 thousand square meters of which is closed. While the Steel Profile Factory has a production capacity of 800 thousand tons per year, the Galvanizing factory has a production volume of 100 thousand tons per year. The Service Center, on the other hand, operates with a production capacity of 120 thousand tons per year.

voda 8 november 2022 06:52

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POSCO Holds Suppliers Green Materials Forum 2022

Strategic Research Institute
Published on :
8 Nov, 2022, 3:45 am

South Korean steel giant POSCO held the Green Materials Forum 2022 in Songdo Convensia on 1 November. The POSCO Green Materials Forum has been held every other year since 2010 to solidify business partnerships with customers and enhance exchanges with potential customers. It had been held with the title “Global Early Vendor Involvement Forum” and was focused on steel. However, the title was changed to “Green Materials Forum” for this year’s event by extending the scope of customer participation to the secondary battery material area. About 1,100 people from 560 companies in 28 countries participated, and the event was held in a calm atmosphere, with some additional events canceled or scaled down.

POSCO CEO Mr Jeong-woo Choi said “We want to lead a low-carbon society and leap into a company that represents green future materials. Now, we would like to open the future together with customers by creating real value for customers with green future materials.”

In particular, POSCO launched ‘Greenate’, a masterbrand representing POSCO’s “net-zero carbon 2050,” at this forum. Greenate is a brand that encompasses all departmental efforts and products for producing low-carbon, eco-friendly steel in the process of converting to eco-friendly secondary battery materials and hydrogen-reduced steel, as well as the three major eco-friendly steel brands represented by e Autopos, INNOVILT, and Greenable. POSCO Group plans to systematically communicate its efforts and achievements to achieve 2050 carbon neutrality internally and externally with Greenate.

Meanwhile, POSCO also held an MOU event with LG Electronics and Volvo Construction Equipment to supply and purchase mass-balance type low-carbon steel products. Mass-balance type low-carbon steel is a product that reflects the carbon emission reduction performance certified by an external professional organization, and customers who purchase the product are recognized as having reduced carbon emissions corresponding to the product. This agreement is the first case that POSCO is pushing for in line with the global green steel market, where the introduction of mass-balance type low-carbon steel is spreading.

In addition, POSCO introduced a metaverse platform experience zone, which will be developed starting next year, for easy and convenient communication with customers. Here, scenes where customer product development was supported and customer claims were resolved were demonstrated with a digital simulator that communicates with an AI chatbot. When the metaverse-based platform is developed, it is expected that it will be possible to respond to customer inquiries such as product recommendations, order and shipment status, and market outlook in real time.

voda 8 november 2022 06:53

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ISMT to Set Up 70MW Solar Power Plant

Strategic Research Institute
Published on :
8 Nov, 2022, 3:47 am

Pune-headquartered seamless steel tube manufacturer ISMT Ltd announced that it will set up the 70 MW DC captive solar plants with an investment of up to INR 305 crore. ISMT said “This reinstates the company’s commitment towards clean energy, which will result in significant operational cost-savings for the company and will also help improve its green energy footprint.”

ISMT is the largest integrated specialized seamless tube manufacturer in India. It is one of the most diversified manufacturers of specialized seamless tubes in the world, producing tubes in the range of 6 to 273 mm diameter. The company has one of the most modern alloy Steel plants in India that produces a wide range of alloy steels from 6 to 273 mm diameter. Their specialized teams provide end to end solutions to industry-specific customers.

voda 8 november 2022 06:54

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LB Foster & ACIPCO to Provide Coated Pipes to Summit Carbon

Strategic Research Institute
Published on :
8 Nov, 2022, 3:51 am

Global solutions provider of products and services for the rail and infrastructure markets LB Foster Company announced that the Company’s Protective Coatings business in Birmingham in Alabama, through its customer American Cast Iron Pipe Company, has been awarded an order for 2.5 million feet of 24-inch fusion bond epoxy coated pipe and an additional quantity of 24-inch abrasion resistant overcoat coated pipe for the Summit Carbon Solutions carbon capture, transportation, and storage project. The contract will represent one of the largest orders that the Birmingham line pipe coating facility has filled.

The coated pipe will be used to build 2,000 miles of pipeline for Summit Carbon Solutions’ project that is proposed to operate in South Dakota, North Dakota, Iowa, Minnesota, and Nebraska and capture, compress, and transport carbon dioxide through a pipeline from biorefineries and other industrial plants before being permanently sequestered in a safe storage facility in North Dakota. The pipeline will be constructed with high-strength steel and can transport up to 12 million tons of CO2 per year.

The pipeline is expected to be operational in 2024.

Founded in 1902, LB Foster Company is a global solutions provider of engineered, manufactured products and services that builds and supports infrastructure.

voda 8 november 2022 06:54

0

Kocaer Çelik to Invest in Equipment for New Products

Strategic Research Institute
Published on :
8 Nov, 2022, 3:49 am

Turkish steel maker Kocaer Çelik has announced investment strategies as renewable energy investments and new value-added product investments in order to realize company’s growth targets in the coming years. In line with these investment strategies, the feasibility studies of wind energy investments continue. On the other hand, on 31 October 2022, our board of directors decided to invest in machinery and equipment for a new value-added product for which it received a pre-order of approximately USD 25 million for the global solar energy sector, where we have become an important supplier.

Kocaer Çelik continues its production activities in Izmir Aliaga, in a total area of 280 thousand square meters, 85 thousand square meters of which is closed. While the Steel Profile Factory has a production capacity of 800 thousand tons per year, the Galvanizing factory has a production volume of 100 thousand tons per year. The Service Center, on the other hand, operates with a production capacity of 120 thousand tons per year.

voda 8 november 2022 06:55

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DNV Certifies POSCO’s Plates for Wind Power Projects Globally

Strategic Research Institute
Published on :
8 Nov, 2022, 3:52 am

South Korean steel maker POSCO has received approval from world’s leading certification authority in the energy sector DNV as the first global steel company to produce plate for wind power. POSCO and DNV signed a ‘Memorandum of Understanding for the certification of steel products applied in the wind power sector’ and started the certification process in March.

DNV intensively inspected and evaluated the quality management system, production process and facilities, product testing facility, and related certifications of the Gwangyang Works’ plate plant, which produces eco-friendly Greenable plates for about three months and approved it as a ‘Shop approval in renewable energy’ in July. POSCO’s integrated brand of eco-friendly and high-performance steel products and solutions that is applied when producing, transporting, and storing future eco-friendly energy such as wind power, solar power, and hydrogen

In addition, it has certified the ‘EN-S355’ standard plate product that implemented the world’s first uniform yield point made at Gwangyang Works as a Type and component certification of wind turbines. POSCO’s uniform yield point product is the first thick-plate product certified by DNV as steel for renewable energy.

Recently, as wind towers have become larger, the thickness of the plate is generally increased to support the load of the structure but POSCO’s uniform yield point plate for wind towers can maintain 355 MPa strength up to 100mm thickness reducing the use of steel by about 3% when applied to wind towers of 10MW or more. Wind tower turbine designers had previously had no choice but to design with the yield point for each thickness specified in the European standard but this certification laid an institutional foundation for reflecting POSCO’s plate products with uniform yield point in structural design.

In particular, POSCO can provide a solution to cope with the increase in the quantity required due to the increase in the wind turbine size and the raw material price because the manufacturing cost does not differ much compared to the existing steel materials. It is also expected to be able to meet the recent demand required by the wind industry to reduce production costs per power unit Levelized Cost of Electricity.

As the world’s leading accredited registrar and classification society for the energy sector, Det Norske Veritas evaluates and certifies safety from materials to technical design, focusing on the energy, oil and gas, shipbuilding and marine industry.

Vertraagd	23 apr 2024 17:35
Koers	23,470
Verschil	-0,640 (-2,65%)
Hoog	24,100
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Volume	3.800.729
Volume gemiddeld	2.462.006
Volume gisteren	2.204.739

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