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Delhi HC dismisses JSPL's plea over Odisha coal block
The company, one of the three technically qualified bidders for the coal mine, said it "was actively placing bids during e-auction for the coal mine".The company claimed to be vigilant, having immediately brought the technical glitch issue to the notice of SBI Capital Markets, which was advising the coal ministry on the auction.The government, however, had denied any technical glitch.JSPL claimed that technical glitches on the MSTC portal during the e-auction on February 27 had prevented it from submitting a higher bid for the mine that has 513 million tonnes of geological reserves.The Delhi HC on Tuesday dismissed Jindal Steel & Power's petition seeking quashing of the grant of an Odisha coal block to Rungta Sons Pvt Ltd, which had emerged as the highest bidder in a February 28 e-auction for commercial coal mines.

🇮🇳 India · 🗓️ August 02, 2023 · Steel

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India’s IMFA reports 17% decline in net profit in Q1 FY 2023-24
99 million) during the quarter, a decline of 5.15 percent over the corresponding quarter of the previous fiscal year.The company has reported a total sales income of INR 7.IMFA is a ferroalloy producer with a capacity of 284,000 mt per year with a captive power plant of 204 MW and operates two captive chrome ore mines in the eastern state of Odisha.11 billion ($86.

🇮🇳 India · 🗓️ August 02, 2023 · Steel

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Call on UK plant must be taken within next year: Tata Steel MD
The government also knows that."The final call has to be taken within the next year."The Netherlands unit is the profit leader of Tata Steel's European business.Across the sea, in the Netherlands, one of the two blast furnaces at Tata Steel's Dutch plant is undergoing maintenance, which has affected production, pulling the unit into the red in the April-June period.Narendran said the performance in the UK should improve in the latter half on expectations of better realisations and lower energy costs.

🇮🇳 India · 🗓️ August 02, 2023 · Steel

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John Cockerill India back in the black in Q1 FY 2023-24
12 million) during the quarter, up 434 percent over the corresponding quarter of the previous fiscal year.The company achieved total sales income of INR 2218.44 million ($27.

🇮🇳 India · 🗓️ August 02, 2023 · Steel

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India’s JSW Steel limited to produce green steel using green hydrogen in 18-24 months
The official said that JSW Steel has concluded an agreement with group affiliate, JSW Energy Limited, for supply of green hydrogen and green oxygen for production of steel at the Vijayanagar mill and to be sold at a premium to the market price.The company has also concluded an agreement for renewable power supplies of 1 GigaWatt (GW) of which 225 MW has been operationalized at the Vijaynagar mill since last April, making it the first Indian steel producer deploying large scale renewable energy for production of green steel, company chairman Sajjan Jindal said in a statement.“As we aim to reach a capacity of 50 million mt per year steelmaking capacity, our aspiration is to power our entire setup through 10 GW of renewable capacity, making us possibly the world’s first major steel manufacturer to achieve this milestone,” Jindal said in a report to shareholders.

🇮🇳 India · 🗓️ August 02, 2023 · Steel

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