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Indian Oil Corporation floats global tender for construction of green hydrogen plant
The successful bidder will ensure the supply of gaseous green hydrogen at the delivery point to IOC, to be marketed by the latter.The proposed location of the new green hydrogen unit is between the Panipat Refinery and Panipat Naphtha Cracker area in land owned by IOC within the vicinity of the Panipat Refinery Complex.The plant would need to be completed within 30 months for date of award of the contract.The company said that the investor would be required to construct a green hydrogen plant with a capacity of 10,000 mt per day, making it the largest such plant currently planned in the country.

🇮🇳 India · 🗓️ September 03, 2023 · Steel

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ACRE to buy Union Bank's Rs 411 crore Visa Steel Loan
The offer of upfront cash of ₹143 crore by ACRE equates to a recovery of 35%.ACRE was declared the successful bidder in the absence of counteroffers at the auction.The company, however, challenged the order in the appellate tribunal and obtained a stay from the Orissa High Court, halting the insolvency process.The move to sell their exposure to the steel company comes as banks seek to address recovery delays due to court interventions by the promoters.To exercise control over the debt resolution process in any company undergoing restructuring, an acquirer looks to own a minimum of 66% of the company's debt.

🇮🇳 India · 🗓️ September 03, 2023 · Steel

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India greenlights auction for four iron ore blocks in Rajasthan
The officials stated that the successful bidders would be awarded “composite licenses” for exploration and development of the assets and extraction of iron ore, along with any other mineral that may be established in course of the exploration.As per the plans of the state-level Department of Geology and Mines, as many as 38 mineral blocks will be put up for auction in the current fiscal year.It may be noted that there is no steel mill operational in Rajasthan currently.

🇮🇳 India · 🗓️ September 03, 2023 · Steel

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UK Metals Expo Q&A: Langley Alloys director Rodney Rice
At the end of the day, I’m very aware of the results and the profitability as the stock comes in and goes out.Your contribution alters the course of the business.The variety of the role and the immediacy of the feedback is where the reward comes in at a smaller operation like Langley Alloys.I’m a metallurgist by qualification and I started at one end of the business, on the blast furnace, and moved onto the hot mill and then the cold mill.For me, the availability of nickel alloys is important.

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🌎 International · 🗓️ September 03, 2023 · Steel

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UK Metals Expo interview: ISTA president Godfrey Watt
The job brought an opportunity to work in shipping and, later, on the trading side.Getting to know the sector, and the challenges faced by the people within it, will really help you succeed.Throughout my career what I’ve enjoyed most is visiting various steelworks and traders and getting to know the people, the product and the production process.I’d like to think that it can bring a little more exposure to ISTA and the work the organisation does.The Carbon Border Adjustment Mechanism (CBAM) is bound to be the other thing.

🔗MEPS International

🌎 International · 🗓️ September 03, 2023 · Steel

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