New Delhi, July 8 (IANS) Public sector giant Steel Authority of India Limited (SAIL) has signed a Memorandum of Understanding (MoU) with Indonesia’s PT Krakatau Steel (Persero) Tbk to explore the possibility of setting up a joint venture for manufacturing stainless steel slabs in Indonesia during the high-level engagements between the Indian and Indonesian governments, as part of Prime Minister Narendra Modi’s visit to Jakarta, a SAIL statement said on Wednesday.The proposed collaboration brings…
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New Delhi, July 2 (IANS) The Indian Railways has approved two projects with an investment of Rs 409 crore, which include the construction of a rail flyover in the Rourkela-Bondamunda section and an advanced Electronic Interlocking project across 20 locations in the Malda Division of Eastern Railway to improve rail safety, according to an official statement issued on Thursday. In a significant boost to freight capacity and operational efficiency, the construction of a 4.59 km rail flyover from Bo…
New Delhi, June 24 (IANS) State-run Maharatna steel giant SAIL on Wednesday said it supplied 5,700 tonnes of special steel for three recently commissioned Indian Navy vessels.The three naval platforms — stealth frigate INS Dunagiri, anti-submarine warfare shallow water craft INS Agray and survey vessel (large) INS Sanshodhak — were commissioned into the Indian Navy by Prime Minister Narendra Modi during a ceremony held at Syama Prasad Mookerjee Port in Kolkata.According to the PSU firm, the st…
New Delhi, June 24 (IANS) Digitalisation is no longer an option but a necessity for the long-term survival and global competitiveness of India’s steel industry, Union Minister for Steel and Heavy Industries H.D. Kumaraswamy said on Wednesday.Addressing the ‘Chintan Shivir 2026 on Digitalisation in the Steel Sector’ here, the minister said the future of the steel industry would be shaped not merely by production capacity but by its ability to build intelligent, connected and data-driven manufactu…
New Delhi, June 8 (IANS) India’s largest steelmaking public sector company Steel Authority of India Limited on Monday said it will prioritise value‑added and special steel products with sharper focus on customer engagement and cost optimization.Outlining its future plans, the company said it is firmly committed to volume expansion and cost optimisation, which are aligned with the government’s vision of Viksit [email protected] ongoing global volatility, the company had reported a robust …
New Delhi, June 4 (IANS) India’s steel sector sustained its growth trajectory in May, as crude steel production reached 14.21 million tonnes, up 2.9 per cent year-on-year, the government said on Thursday.Hot metal production grew 2.0 per cent, while pig iron output (0.77 million tonnes) posted a growth of 1.1 per cent.Finished steel production reached 13.94 million tonnes in May, up 7.7 per cent. Finished steel consumption in May was 14.33 million tonnes, registering growth of 9.0 per cent YoY…
Mumbai, May 24 (IANS) State-owned Life Insurance Corporation of India (LIC) has emerged as the highest profit-making company in India’s financial sector during the January-March quarter of FY26, reporting a net profit of over Rs 23,400 crore.The insurance giant also retained its top position among Central Public Sector Enterprises (CPSEs) in terms of quarterly profit during the fourth quarter of FY26.LIC last week reported a 23 per cent rise in consolidated net profit to Rs 23,420 crore for th…
New Delhi, May 6 (IANS) India’s steel sector sustained its growth trajectory during April with a 5.8 per cent increase in crude steel production to 14.09 million tonnes, from 13.31 million tonnes in the same month of the previous year while the domestic demand momentum stayed robust on the back of continued buoyancy across infrastructure and manufacturing, according to an official statement issued on Wednesday.Domestic steel prices also extended their recovery during the month across all major…
New Delhi, April 8 (IANS) India’s steel industry clocked a robust 10.7 per cent year-on-year growth in production at around 168.4 million tonnes during 2025–26, consolidating its position as the world’s second-largest producer while navigating global uncertainties and price pressures, according to a statement issued by the Ministry of Steel on Wednesday.Domestic demand remained the key growth driver with finished steel consumption at 164 million tonnes, expanding by about 7–8 per cent, d…
New Delhi, April 7 (IANS) Calling for a transformative shift in India’s steel sector, Union Minister H. D. Kumaraswamy on Tuesday said the industry must move beyond traditional growth models and embrace a future driven by circular economy principles and green decarbonisation to support the vision of a Viksit Bharat.Inaugurating the workshop titled “SRTMI R&D Connect: From Ideas to Industrial Impact,” Kumaraswamy underscored the need for a paradigm shift in the sector, stating that India …