BEIJING (Reuters) - The Chinese government has given Baosteel Group the go-ahead to build a 10-million tonne per annum steel project at Zhanjiang port in southeastern Guangdong province, according to a notice issued on Friday.
The Chinese government has given Baosteel Group the go-ahead to build a 10-million tonne per annum steel project at Zhanjiang port in southeastern Guangdong province, according to a notice issued on Friday. ...
NEW DELHI: Steel giant Posco has shifted its focus from the $12-billion proposed steel plant in Odisha citing "no progress" in the project. "Actually no progress," a Posco India spokesperson told hen asked about whether the firm is temporarily suspending its project in Odisha where it plans to set up a 12 million tonne (MT) steel plant. When pressed further, the spokesperson said: "Not pulling out from India.
NEW DELHI: South Korean steel giant Posco has put on hold its $12 billion steel project in Odisha due to delays in various regulatory approvals. "We are tentatively suspending the Odisha (India) project due to lack of any progress," Posco Chairman and CEO Kwon Oh Joon said. "Business conditions at home and abroad have changed due to drop in global steel demand, growing deficit of subsidiaries, which have led us to come to a conclusion that we must step up our reform efforts," he said at an investor event in Seoul yesterday.
NEW DELHI: South Korean steel major Posco today said it is not quitting Odisha, even as its over $12 billion project has been hanging fire for almost a decade. "That is not the fact. Due to no progress in the project area, much of office space was lying vacant in Odisha. It was decided to renovate the office space to a smaller area," a Posco spokesperson told PTI on being asked whether there are plans to exit 12 million tonne (MT) Odisha project.
NEW DELHI: Talks are on between South Korean steel major Posco and state-run domestic giant SAIL to set up an integrated steel plant, the government today said. "SAIL and Posco recently discussed possible collaboration opportunities including setting up of an integrated steel plant," Minister of Steel and Mines Narendra Singh Tomar told Lok Sabha in a written reply. "The discussions are at a very preliminary stage," he added.
KOLKATA: Jindal Steel and Power Limited (JSPL) has commissioned a 1.4 million tonne per annum (mtpa) rebar mill at Sohar, Oman. The mill, that came up with an investment of $190 million is the largest in Gulf and African region. Along with the existing 2 mtpa steel melting shop, it makes JSPL's Jindal Shadeed the largest integrated steelmaker in Oman. The new mill will significantly strengthen Oman's domestic production capacity to substitute dependence on imports for the construction sector in the country.
BEIJING (Reuters) - A Chinese drug enforcement officer has been linked to government officials arrested after the seizure of nearly three tons of the drug crystal methamphetamine in the southern province of Guangdong last month, local media reported.