December 23, 2019

I see a lot of people appreciating sustainability

We all talk and discuss climate change and what - if anything - can be done to combat global warming. "I take a sustainable approach towards sourcing my wood as well as producing it,” says Aakriti Kumar of Delhi-based design studio Differniture. 


She adds, "No matter how advanced our society and technology is, we can never forget our origins, and we will always need something green around us. And their motto is to work diligently towards reduction of waste and recyclability of products weaved together with intelligent planning that ensure minimum wastage and maximum preservation. But it’s as a collective ‘frontier forest’ relatively undisturbed by human activity that trees are really powerful. In terms of my production, I try to create zero-mineral waste designs and also use natural oils and waxes that are not toxic,” she adds.

Our commitment to sustainability is not some philanthropic agent or incompatible with our strategy of growing profits. ‘Think global and act local’,” she says and adds, "In many small but important ways we can make a difference - why not start with recycling ” Echoing similar sentiments another pavilion also showcased furniture that reflected a 10mm hex nuts Suppliers deep respect, understanding and reverence for wood. Talking about the trend of going green in general, Aakriti feels that at the moment, several designers are embracing sustainability-oriented design processes, but there is nevertheless a long road ahead. Their infrastructure including 5 axis CNC machinery and a veneering plant, ensure consistency, repeatability and reproducibility. 

But it’s as a collective ‘frontier forest’ relatively undisturbed by human activity that trees are really powerful. There is just no better eco symbol than the tree. "We are passionate innovators who like to engineer and craft durable, high-quality furniture with a conscious effort for sustaining the environment. "Moving forward, we are now also looking at the usage of organic threads and fabrics,” she says. 

She tells us, "We take a lot of pride in using sustainable methods of work – most of our products are made by hand from start to finish, using techniques such as quilting, zardozi, crewel and more. We are still a very long way off, but I have noticed that the young crowd in particular pays a lot of attention to going green and being environment friendly when it comes to creating and manufacturing their products. 

I see a lot of people appreciating sustainability in the design process, which is really great. Our cutting-edge infrastructure, backed with advanced machinery and leading technology, facilitates us to create highly accurate and skillfully engineered products,” read their product description. Extreme weather conditions have brought home the fact that our climate is changing - and changing fast. Together they are carbon reservoirs, globally sequestering 830 billion tonnes of carbon and vast incubators of biodiversity; tropical forests house 60-90 per cent of all flora and fauna species. On the contrary, it’s intrinsic to it. "I get reclaimed materials from, for example, shipping containers that have been abandoned after the material they were carrying has been removed, or trees that have been cut down for interfering with power lines or even already fallen trees. 

But for many of us here, the issue has suddenly become far from abstract. So, why can we still hear the roar of chainsaws to make furniture and other products, you may ask Well, on a happier note, a section of talented and eco-sensitive designers who participated at the recently concluded India Design ID collectively assert that the product design landscape has been witnessing a change, a change that echoes: recycling, reusing and sustainability.There is just no better eco symbol than the tree.

Sarita Handa, whose exhibition space was animated by three sets of craftspeople working on three different techniques, says that a large part of her brand’s environment friendly orientation lies in its manual labour-intensive approach to manufacturing.” Aside from those who create the final product, she is also now looking towards moving closer to nature with the material they work with. It may be easy to be fatalistic about it, but the truth is that although we humans have caused the problem, we also have the solution. Craftsmen at Sarita Handa’s pavilion. They purify water, protect communities from flooding and stabilise hillsides. I hope they can be examples for future generations of designers to live by and make a real change happen in good time,” she concludes. 

Take away forests and the ecosystem unravels into dust. We all know about ‘carbon trading’ and ‘flexible mechanisms’. The problem is that wood is rather commonplace, so it’s easy to forget,” says Aarti Agarwal of Knock on Wood. Using a variety of natural solid woods and veneers, selected by virtue of their colour, strength, hardness, grain patterns and workability, Inliving’s collection ranged from Oak and Ash woods in addition to Mango, Sheesham, Acacia and others. With a message of going green, they are re-inventing woodwork, producing a range of modern furniture using eco-friendly techniques and sound structural design, and more

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December 17, 2019

The apex court exercised its extraordinary power

A bench comprising Justices R F Nariman and Indu Malhotra held that both the firms were ineligible under amended Insolvency and Bankruptcy Code to bid for the firm but granted them a fresh opportunity after taking note wholesale heavy hex nuts of the plea of Committee of Creditors that it does not want liquidation of Essar Steel. 


The apex court exercised its extraordinary power under Article 142 of the Constitution in allowing ArcelorMittal and NuMetal to make fresh bid for Essar Steel.Top court asked Committee of Creditors to take a decision within 8 weeks on rival bids of NuMetal and ArcelorMittal for Essar Steel.The top court asked the Committee of Creditors to take a decision within eight weeks on rival bids of NuMetal and ArcelorMittal for Essar Steel.. New Delhi: The Supreme Court on Thursday granted one more opportunity to mining major ArcelorMittal and Russia's VTB Capital-backed NuMetal to bid for Essar Steel if they clear their NPA dues in two weeks.The apex court exercised its extraordinary power under Article 142 of the Constitution in allowing ArcelorMittal and NuMetal to make fresh bid for Essar Steel

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December 10, 2019

SAIL had earlier sought help from Niti Aayog

SAIL had earlier sought help from Niti Aayog to resolve differences with ArcelorMittal over setting up of a Rs 5,000-crore steel plant.The proposed JV will construct a state-of-the-art cold rolling mill and other downstream finishing facilities in India that will offer technologically advanced steel products to India&heavy hex nut Suppliers39;s rapidly growing automotive sector, the annual report # said."Joint task force of SAIL and ArcelorMittal is working on feasibility study, location of unit and business model for the alliance," Steel Authority of India (SAIL) said in its annual report 2016-17.SAIL had earlier sought help from the Niti Aayog to resolve differences with ArcelorMittal over the setting up of a Rs 5,000-crore steel plant.The team consists of representatives from both the companies..The government had earlier said the proposed auto-grade steel plant would be set up close to an automobile hub. In line with the Make in India programme, SAIL and ArcelorMittal in May 2015 had entered into a pact to explore the possibility of setting up an automotive steel manufacturing facility under a JV in the country.Based on the outcome of the joint study, it said, definitive agreements for setting up the joint venture (JV) company will be put in place.Govt had earlier said the proposed auto-grade steel plant would be set up close to an automobile hub. 


New Delhi: A joint task force of SAIL and ArcelorMittal is in the process of finalising a business model for the proposed JV.A meeting was subsequently convened where both were asked to finalise their JV agreement, according to an official

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December 03, 2019

This move was discussed threadbare in a high

This move was discussed threadbare in a high-level meeting which was conducted by the Prime Minister’s Office. While the participants were asked to come prepared with a blueprint for improving economic growth, sources pointed out that the Prime Minister’s Office officials were keen on discussing steps to improve the manufacturing scenario. New Delhi: As sluggish growth has affected the steel, coal and cement sectors, which are key for infrastructure output and manufacturing activities, the Centre may look into the possibility of suggesting coal block allottees to also provide the dry fuel to sectors like steel and cement apart from the power sector, which would help accelerate growth in these segments.


This move was discussed threadbare in a high-level meeting which was conducted by the Prime Minister’s Office (PMO) last week with secretaries of coal, mining, power and steel ministries, to work out a strategy to improve economic growth, highly-placed sources said.This newspaper had exclusively reported on May 4 how the PMO, concerned over poor economic growth, had called a meeting of top officials of the key economic ministries to discuss the matter on May 5, as the Narendra Modi-led NDA government faces an uphill task of improving economic momentum, at a time when it aims to seek a second term and the Lok Sabhaelections are just a year away.The sources further added that while secretaries from all the economic ministries, including finance, were present during the meeting, which was presided over by top PMO officials, the focus was mainly on making coal available to stressed sectors like steel and cement in order to boost manufacturing.

Coal ministry officials were directed by the PMO to convey to coal mines allottees that while the dry fuel is being provided to the power sector on a priority basis, it should also be made available to the cement and steel China DIN934 HEX NUTS Manufacturers sectors as this will improve growth in the manufacturing sector and propel overall economic growth.While the participants were asked to come prepared with a blueprint for improving economic growth, sources pointed out that the Prime Minister’s Office officials were keen on discussing steps to improve the manufacturing scenario.

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November 25, 2019

Stir the cinnamon poppy seeds and most of the maple syrup

Stir occasionally, especially at the end, to prevent burning. Continue to simmer the rice, stirring occasionally, until it turns soft and mushy. Top with cooked seafood, shiitake mushroom, spring onions and cilantro. (Recipe courtesy chef Stephen, Storm Bar and Grill, East of Kailash)Thai seafood congee IngredientsJasmine broken rice, 1 1/4 cupWater, 5 cups Salt, 1/4 tspChicken or pork stock, 9 cups Shrimp (or ground pork or other meat you prefer), cooked, 1 1/2 cup Shiitake mushroom, sliced and cooked, 1/4 cupThai pepper powder, 1/4 tspSoy sauce, 1/4 tspGinger, julienned, 1 inchSpring onions, chopped 1/2 cupCilantro, 1/4 tsp MethodBoil the jasmine rice with water, salt, and oil on medium heat. 


Recipe courtesy chef Rahul, Mystique Melange, Ashok Vihar)Banana and nuts porridgeIngredientsOats, 160 gmMilk, 600 mlBananas, ripe, 2Mixed nuts (raisins, almonds, walnuts), 1/2 cupCinnamon, 1/2 tspPoppy seeds, 2 tbspMaple syrup or honey, 2-3 tbsp Salt to tasteMethodPut the oats in a saucepan, pour in the milk and sprinkle in a pinch of salt.Scoop about 1 1/2 cups of the cooked rice into another medium-sized soup pot and add 1 cup broth.Blackberry and apple porridgeIngredients Oats,160 gmMilk, 600 mlApple, grated, 1Honey, 2-3 tbspBlackberries, 100 gmBasil leaves for garnishing, 3-4 Thai seafood congee Blackberry and apple porridge Ingredients Oats,160 gmMilk, 600 mlApple, grated, 1Honey, 2-3 tbspBlackberries, 100 gmBasil leaves for garnishing, 3-4Salt to tasteMethodPlace the oats and the milk in a large pan over medium heat. Serve hot. Sprinkle with Thai pepper powder and serve hot. Bring to a boil, stirring, and season with a bit of soy sauce. Keep stirring constantly until the rice is very soft and breaks apart (30-45 minutes). 

Stir the cinnamon  poppy seeds and most of the maple syrup or honey into the porridge. Drizzle the sesame oil and soy sauce. Remove the chicken and set it aside to cool. Serve with the bananas and toasted nuts on top, and the remaining syrup/honey and cinnamon drizzled over. Season with cinnamon and cook until toasted, stirring frequently, for about 3 minutes. Add the chicken breast and turn down the heat to medium.Heat the chicken or pork stock. (Recipe courtesy chef Gajendra Singh, Unplugged Courtyard)Almond porridgeIngredientsPorridge, cooked, 1/2 cup Ground cinnamon, 1/4 tspAlmond milk, 1 1/2 cupWater, 1/2 cupBrown sugar, 2 tbspVanilla extract,1 tspSalt to taste MethodHeat a saucepan over medium heat and pour in the porridge. On high heat, add the stock and water, and bring to a boil. Bring to a steady simmer for 5 to 6 minutes, stirring as often as you can — if you like your porridge runnier, simply add a splash more milk. Add grated apple and most of the honey to the porridge during the last 2 minutes of cooking.Peel and slice the bananas. Bring to a boil and cook over low heat until the porridge is thick and grains are tender, for about 25 minutes.Squash in most of the blackberries, then serve with the remaining scattered on top and the remaining honey drizzled over.Pour the porridge into a bowl.

Cover and simmer until chicken is cooked.Add the nuts to a small non-stick frying pan and dry China heavy hex nut Suppliers roast over medium heat for 3-4 minutes. Add salt and pepper, and more water if required.Shred the chicken and place on top along with the ginger, spring onions and fried garlic. Transfer to a serving bowl. Bring to a boil and simmer for 4-5 minutes. (Recipe courtesy chef Gurmeher Sethi, Ziu)Chicken porridgeIngredientsSmall rice, 1/2 cupChicken breast, skin and fats removed, 2 piecesChicken stock, 3 cupsWater, 2 cupsSalt and pepper to tasteGinger, julienned, 2 inchesGarlic, mashed and fried, 2 clovesSpring onions, chopped, 1/2 cupSesame oil, 1/2 tspSoy sauce, 1/4 tspMethodWash the rice and put in a medium-sized pot. Serve hot. Add a pinch of salt and stir with a wooden spoon. Pour in the almond milk, water and vanilla and stir in the brown sugar and salt. Add more water if required. (Recipe courtesy chef Jitin Kapur, Tashan)

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November 20, 2019

The company expects an annual volume

The company expects an annual volume demand of 13,000 metric tonnes from this new business development initiative by 2021, it said. We will extend our full support to e-rickshaw manufacturers in designing and developing stainless steel models that are affordable, high on RoI, and user-friendly," Jindal Stainless Managing Director Abhyuday Jindal said.


Considering the market potential that Uttar Pradesh has to offer, the state will be one of our key focus areas.The stainless steel E-rickshaw prototype, it said, has been well received by the domestic e-rickshaw manufacturers and Haryana based E-rickshaw manufacturers have already received orders for over 100 stainless steel E-rickshaws.

Claiming to have developed the first stainless steel e-rickshaw prototype in India with superior body and chassis performance as compared to carbon steel e-rickshaws, the company is eying to tap market in Uttar Pradesh, NCT, West Bengal, Maharashtra and Gujarat. New Delhi: Jindal China Hex Nuts Factory From China Suppliers Stainless on Friday said it is eying 25 per cent e-rickshaw market share by 2021, and expects the segment to generate revenues to the tune of Rs 200 crore over the next two years.

Given the high potential market of Uttar Pradesh, Jindal Stainless is participating in the EvExpo 2019 at Lucknow with an intention to forge partnerships with local E-rickshaw manufacturers, the statement said.Amidst rising environmental pollution concerns, e-rickshaws have emerged as the most economical option for last mile connectivity in both urban and rural areas.He further noted that continued government subsidies will enable faster adoption and will speed up market growth. The company claims to have developed the first stainless steel e-rickshaw prototype in India with superior body and chassis performance as compared to carbon steel e-rickshaws..As a new business development initiative towards sustainable transportation, after stainless steel bus bodies and railway coaches and wagons, Jindal Stainless is now in talks with manufacturers to facilitate roll-out of stainless steel electric rickshaws (e-rickshaws), the company said in a statement."Jindal Stainless is targeting a 25 per cent share of the total e-rickshaw market in India over the next 2 years fetching estimated revenue of Rs 200 crore," the company said.The company is eying to tap market in Uttar Pradesh, NCT, West Bengal, Maharashtra and Gujarat

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November 13, 2019

In leading Liberty through this transformational phase

It recently completed the acquisition of Tata&China wholesale metric nut39;s speciality steels business now Liberty Speciality Steels - which supplies high-value steels to automotive, aerospace, industrial and energy clients worldwide. Since mid-2015, Liberty has moved from being largely a trading entity to become one of the UK's largest industrial employers and owner of the country's last aluminium smelter, its largest steel plate mill and largest scrap melting capacity.


In leading Liberty through this transformational phase, Gupta has applied his GreenSteel business model, designed to secure a competitive, low-carbon # future for metal manufacture, through recycling, use of renewable energy and vertical integration with value-added engineering activities."I am proud and humbled to receive this award on behalf of all our 5,000 staff who have been part of this mission.Sanjeev Gupta received the title 'CEO of the Year' at the prestigious Platts Global Metals Awards in London.His success in securing the coveted the S&P Global Platts CEO title comes in the Liberty Group's 25th anniversary year.He subsequently went on to pursue major mining and metals assets in the US and Australia.In their citation, the judges' said they were "impressed by his track record of successful acquisitions and his role as a motivator willing to swim against the tide of pessimism prevalent in the industry. It is hugely encouraging for our work to be recognised in this way by our peers in the industry and it motivates us to pursue this mission even more vigorously," Gupta said. His success in securing the coveted the S&P Global Platts CEO title comes in the Liberty Group's 25th anniversary year. (Photo: Twitter) London: Britain's Indian-origin steel tycoon Sanjeev Gupta has bagged a top global award for his successful acquisitions and his drive to transform the steel industry in the UK, India and beyond.

Gupta, the executive chairman of the Liberty House Group who has been behind a series of acquisitions in the British steel industry of former Tata Steel and Caparo assets, received the title "CEO of the Year" at the prestigious Platts Global Metals Awards in London yesterday night. The company has grown from its beginnings as a trading operation run from Gupta's student halls of residence at Cambridge University into a global metals and industrials enterprise expected to gross around 7 billion dollars this year." The high-profile honour follows an intensive 18-month period during which the Liberty Group invested more than 500 million pounds to acquire and turn around metals, energy and engineering operations across the UK, saving more than 5,000 jobs in the process.

He was chosen from a shortlist of 10 top metal industry executives, including Indian CEOs Sajjan Jindal of JSW Steel and Prakash Kumar Singh of the Steel Authority of India, who lead prominent businesses in Europe, Asia, North America and Australia.""This has been an extraordinary period for our group as we pursue our GreenSteel vision for a resilient, high-value metals industry

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November 06, 2019

The Sunday Times quoted sources as saying

Tata Steel may still hold on to its UK steelworks and their proposed sale may be put off after a personal intervention by British Prime Minister David Cameron, who is keen on averting the collapse of carbon steel nuts Suppliers Tata Steel may still hold on to its UK steelworks and their proposed sale may be put off after a personal intervention by British Prime Minister David Cameron, who is keen on averting the collapse of Britain’s steel industry ahead of the EU referendum, a media report said on Sunday.


The Sunday Times quoted sources as saying that a sale of Port Talbot in Wales, the UK’s larg-est steelworks, and steel mills owned by the Tata Group around the country, may be put off as the steel crisis prompted a series of offers from the UK government, including multi-million-pound loans and taking a 25 per cent stake in the business. "Sources said a sale of Port Talbot, and steel mills around the country, was looking increasingly unlikely. Tata began contemplating retaining the vast south Wales site after personal intervention from David Cameron,” the daily said.Last week, the government proposed a law change to slash the liabilities of the 14 billion pound British Steel Pension Scheme, which is underwritten by Tata and has a £700 million deficit.

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October 31, 2019

The acquisition of debt laden Bhushan Steel

Bhushan Steel was among the 12 stressed assets the heavy hex nut Manufacturers Reserve Bank of India had referred to NCLT proceedings last year. Reduction of NPAs in individual PSBs range from about Rs 500 crore to over Rs 10,000 crore. 


The acquisition of debt laden Bhushan Steel, under the Insolvency and Bankruptcy Code (IBC) framework, will reduce bad loans of PSBs by Rs 35,000 crore, Financial Services Secretary Rajiv Kumar today said.IBC transforming credit culture in NewIndia. About Rs 35,000 crore reduction of NPAs of PSBs in Bhushan Steel case. Reduction of NPAs in individual PSBs range from about Rs 500 crore to over Rs 10,000 crore, he tweeted.Last week, Tata Steel, through its subsidiary, completed the acquisition of controlling stake of 72.65 per cent in Bhushan Steel for around Rs 36,400 crore after emerging as the winning bidder in an insolvency auction.

Kumar said following the Bhusan Steel buyout, public sector banks (PSBs) will write back Rs 7,500 crore of loans which were earlier classified as NPAs."Future upside through over 6 crore equity shares acquired by PSBs. Decisive shift towards clean credit culture," Kumar tweeted.Last week, Finance Minister Piyush Goyal had tweeted that the acquisition was a "historic breakthrough in resolving legacy issues of banks".Bhushan Steel was among the 12 stressed assets the Reserve Bank of India had referred to the National Company Law Tribunal (NCLT) proceedings last year.

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October 28, 2019

The model highlighted the potential risks

As levels of carbon dioxide increase in the Earth&10mm hex nuts Manufacturers039;s atmosphere, the upper oceans become increasingly acidic. Strong fisheries management and efforts to reduce CO2 emissions, however, might slow or even stop that trend. Turns out, each year, fishermen harvest more than USD 500 million worth of Atlantic sea scallops from the waters off the east coast which might be affected by ocean acidification.A new model created by scientists at the Woods Hole Oceanographic Institution (WHOI), however, predicted that those fisheries may potentially be in danger.


As levels of carbon dioxide increase in the Earth's atmosphere, the upper oceans become increasingly acidic--a condition that could reduce the sea scallop population by more than 50 per cent in the next 30 to 80 years, under a worst-case scenario. Strong fisheries management and efforts to reduce CO2 emissions, however, might slow or even stop that trend.The model combined the existing data and models of four major factors: future climate change scenarios, ocean acidification impacts, fisheries management policies, and fuel costs for fishermen.

What's novel about our work is that it brings together models of changing ocean environments as well as human responses," said Jennie Rheuban, the lead author of the study. "It combines socioeconomic decision making, ocean chemistry, atmospheric carbon dioxide, economic development, and fisheries management. We tried to create a holistic view of how environmental changes might play out across different aspects of the sea scallop fishery," she noted.Since the oceans can absorb more than a quarter of all excess carbon dioxide in the atmosphere, fossil fuel carbon emissions can cause a dip in ocean pH as well. That acidity can corrode the calcium carbonate shells that are made by shellfish like clams, oysters, and scallops, and even prevent their larvae from forming shells in the first place.To estimate its impact on the model, researchers incorporated a range of effects based on studies of related shellfish species. 

Combined with estimates of changing water chemistry, this new model lets scientists explore how plausible impacts of ocean acidification may change the future of the scallop population.They tested four different levels of impact in each of the four different factors influencing the model, ultimately creating 256 different scenario combinations.One group of scenarios looked at possible pathways of how ocean acidification may impact scallop biology. Another examined different levels of atmospheric CO2, # including one future where emissions continue to skyrocket, and one where they fall due to an aggressive climate change policy. 

A third set included a range of future fuel costs, which themselves are related to climate change policies. Higher fuel costs can lead to fewer active fishing days, reducing stress on the fishery itself, but also reducing profitability and revenues of the industry. The fourth and final set involved different federal fisheries management techniques.In all of the model's possible scenarios, high levels of CO2 in the atmosphere consistently led to increased ocean acidification and fewer sea scallops, despite introducing stricter management rules or even closing certain parts of the fishery entirely.

The model highlighted the potential risks to sea scallops and likely other commercial shellfish fisheries of unabated carbon emissions to the atmosphere" added the researchers.The findings appeared in the Journal of PLOS ONE.(Source)

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October 23, 2019

Thyssenkrupp and Tata declined to accommodate

Germany&China Hex Nuts Factory From China Suppliers039;s Thyssenkrupp said that it was scrapping merger plans with steel giant Tata and would slash 6,000 jobs worldwide. The reason: the European Commission's reluctance to the merger. (Photo:AP) London: German industrial conglomerate Thyssenkrupp said on Friday that it was scrapping merger plans with steel giant Tata and would slash 6,000 jobs worldwide in a structural shakeup. The reason: the European Commission's reluctance to the merger.


Should the deal have gone ahead, it would make Tata-Thyssenkrupp Europe's second largest steel company - the largest being ArcelorMittal. The Tata deal not going through will directly benefit China.The German group said "continuing concerns" from the European Commission had sunk its bid to join its steel business in Europe with Tata's. Tata's said in a separate statement that both "partners assume with deep disappointment that the European Commission will not approve the joint venture".The aim of the merger had been to create the second largest European steel company behind multinational giant ArcelorMittal and to join forces in the face of the surge of Chinese steel.Having shelved the plans and ruled out offering more concessions to Brussels in order to get a green light, Thyssenkrupp said it was now aiming for a stock market listing of its elevators business as part of a restructuring.

CEO Guido Kerkhoff said Thyssenkrupp's "new group-wide" programme would also include "the reduction of 6,000 jobs" with 4,000 to be cut in Germany alone, while the rest of the job cuts would be abroad.While Kerkhoff said the company had a "good tradition of avoiding compulsory redundancies", he admitted "this time it's a difficult process".Thyssenkrupp faces "a situation where we had to make this major change, because it is the right decision for the company now in the changed frame conditions", he added.The group had planned 4,000 job losses, half of them in Germany, if the merger had been successful, but its collapse means the conditional agreement already negotiated with the unions "is no longer valid", admitted Kerkhoff."We are building a new Thyssenkrupp... we are going to change a lot of things and it will not be an easy road," he added.Kerkhoff declined to give any details on the planned IPO of its elevators unit: "as to the right price and the right time, we can't say anything".

The elevator division employs around 50,000 people worldwide and sales of 7.7 billion euros ($8.7 billion) and is one of the group's most profitable areas of business.Mustafa Okur, an industrial analyst for Bloomberg Intelligence, predicts the IPO could be worth "about 15 billion euros, based on our scenario, and comes as elevator-market sales accelerate."The flurry of announcements saw Thyssenkrupp's stock soar, up 22.43 percent to 13.76 euros by around 1430 GMT on Frankfurt's stock exchange, while Tata Steel shares closed down 6.1 percent in Mumbai.

Thyssenkrupp and Tata declined  to accommodate Brussels' concerns which they said would "affect the synergies expected from the merger" to the point of compromising its economic relevance."This is not the end of strategic play as far as Europe is concerned and we will look at other options," said Tata spokesman Kaushik Chatterjee.From Thyssenkrupp's perspective, the merger had been regarded as a core part of the planned restructuring.In the wake of the U-turn on the merger plans, the German conglomerate said it has also binned a proposal, put forward last September under pressure from activist shareholders, to split into two separate groups -- "Industry" and "Materials".Shelving the plan to split is a blow to Kerkhoff, who had banked on the scheme to push profit and simplify Thyssenkrupp's complicated business structure.Criticism from German shareholders quickly followed.

It is clear that Thyssenkrupp has failed with its previous strategy," Lars Foerberg of Cevian Capital, Thyssenkrupp's second largest stockholder, told the daily Rheinische Post."There must be no more historical or political taboos if Thyssenkrupp is to seriously tackle its long-standing underperformance and bring its businesses back on track."In the wake of the failed merger, Thyssenkrupp said it expected a net loss for the year and would release the adjusted group forecast on Tuesday with the second quarter figures for 2019.The adjustment to the forecasts takes into account the reintegration of the steel division into the conglomerate's balance sheet and the increase of 100 million euros in a risk provision in a German anti-cartel investigation.

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October 18, 2019

Add all the powders and fry till the oil floats

In the same pan, add ghee and season with mustard seeds, cashew nuts and bay leaves. Stir occasionally. Serve it hot. Vegetable broken wheat delite IngredientsBroken wheat-2 cupsCarrot-2Onion (optional) -1Capsicum-1Beans- 4 to 5Tomato- 1 chopped finelySaltOil for seasoningFor seasoning


Mustard seedsChanna dalUrad dalPeanutsChopped curry leavesChopped ginger and green chilliMethod :Heat a wok.It can be used instantly also without much fermentation. Remove and keep aside. Cook both sides. Add three-and-a-half cups of water. Smear the bhindi with salt and fry till done.Add two spoons of ghee. This dish can be paired with raita or 10mm hex nuts Manufacturers even tomato ketchup.Tapioca dosaIngredients:Tapioca sliced thinly-1 glassRaw rice -1/2 glassGreen chillies- 2Asafoetida- a pinchSalt- to tasteGingely oil or cooking oil according to tastePreparationSoak the rice for 2-3 hours.Keep it on medium flame for a few minutes till it is cooked. 

When the water starts boiling, add the broken wheat and stir.Cover and keep on low flame for 4-5 minutes.Saute for a few minutes.Mix the two together.From Tapioca Dosa to Bhindi Rice, these recipes deserve to be tried at least once.Add salt to the water.Add all the ingredients for seasoning, when they splutter, lower the flame. Grind the sliced tapioca with the green chillies into a fine paste.Garnish with coriander leaves and serve hot.Add a little oil. Heat oil. Then add onion, tomato and chopped vegetables. Wash and wipe bhindis.To make the dosa, heat a pan or tawa, lower the flame, spread a ladle of batter on the tawa, put some oil around the dosa, flip it when cooked on one side.Now add the cooked rice and grated coconut. Add salt and asafoetida powder. 

Add all the powders and fry till the oil floats.Bhindi riceIngredients:Raw rice-1 cup Lady's finger (bhindi)-200gmBig onion-1Tomato pulp-1/2 cupGrated coconut- 5 tbspRed chilli powder to taste (one can also use slit green chillies)jeera (cumin) powder -1/2 tspTurmeric powder-1/2 tspSalt to tasteGhee -2 tspBroken cashew nuts-1 tbspMustard seeds-1 tspBay leaves (Tej patta)- 2Cooking oilMethod of preparationPressure cook rice and keep aside. When the nuts turn brown, add the finely chopped onion. Saute, add tomato pulp and fry for a few minutes.Serve with coconut chutney or any other chutney.Cut into one-inch-long pieces. Grind the rice also into a fine paste.The consistency of the batter should be like dosa batter. Mix gently.

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October 15, 2019

A woman sits with her child next to storm

A woman sits with her child next to storm-damaged buildings in Puri, OdishaAs Chandra Bhushan, the Deputy Director of the Centre for Science and Environment (CSE), indicates we are staring at a Herculean task. Our studies show that over 30 percent of the forest area has changed. Murali Sivaramakrishnan, the founder of the Indian chapter of the Association for the Study of Literature and Environment (ASLE), climate change has always been a part of the literature in the subcontinent but wasn’t in the collective consciousness till now.5 degrees Celsius that will pose high risks to ‘health, livelihoods, food security, water supply and economic growth.In addition to the written and the oral narrative, cinema has brought to life what climate change can manifest itself into.


Asheer Kandhari at an Extiction Rebellion protest in New DelhiAnother key issue is the degradation of our wetlands. Garima Thakur protesting at VIP Road, Bhopal From severe heat waves to extreme rainfall—the threats of climate change are becoming more palpable and slowly seeping into our collective consciousness. Instead, the young generation of millennials and Generation Z represented by Alexandria Ocasio-Cortez, and Thunberg and countless teenagers and kids from Hex Nuts Factory From China Manufacturers the world, respectively, are initiating and dominating the discourse of climate crisis. This rainfall then sustains us for the 8,760 hours that we have in a year. Even, Panwar sees a successful uptake of renewable energy in recent years that have increased the confidence in India being on track towards reducing carbon emission. We are a monsoon dependent country, and monsoon is a very delicate weather system. The starkest illustration can be framed out of last year’s ‘Kisan Long Marches’ in Mumbai and Delhi. "Each one of us will have to take action, whether it is the private sector or the citizens. 

Developed countries should take more responsibilities and cut emissions quickly while developing countries like India will get a little more time to reduce their emissions. The failure of which will result in an inevitable rise in temperature above 1.Talking about his move to explore the theme, which is relatively unexplored in Hindi cinema and commercially not viable, the director says, "I come from a small village in Orissa, so when I hear the elders mentioning how the floods were not this frequent earlier, I believe those facts, since they are alluding to the monsoon 20 years ago.” Cut to June 2019: the actor-cum-environment activist shared what climate change looks like.”Globally, energy is the largest contributor to the greenhouse gas emissions responsible for climate change, and hence replacing fossil-fuel-based energy sources with renewable energy can be an effective means in mitigating climate change.” Further Enmakaje (2004), a Malayalam novel by Ambikasuthan Mangad shows the ill effects of using endosulfan pesticide in cashew plantations of Northern Kerala. In some places, you get normal rains in the wrong periods. Shifting the conversation from a global concern to a critical national concern is a finding that says that India will be the worst affected by climate change.Although Bhushan warns us that if we leave everything on government, we are not going to solve the problem. "Literature has been talking about human culture, nature, and the transformation that humans have brought out. Hence, when Churu in Rajasthan recorded an all-time high temperature of 50. Gone are the days when baby boomers like Al Gore or Attenborough were the only individuals who had a voice in environmentalism. So the wheat and rice crops ready for harvest are destroyed by rainwater. And that’s why, historically, India has had droughts and floods, even before climate change.The declining green cover is also a warning in red, as the forests of Western Ghats, Himalayas, and Northeast are already showing the signs of mortality. Confirming the same, Bhushan says, "The present government, especially the NITI Aayog, has recognised the potential of renewable energy and battery technology. "We are a poor country. In just seven months into 2019, the country has witnessed two cyclones — Vayu and Fani, floods in Bihar and Assam, severe droughts and agrarian crisis in Karnataka, Maharashtra, Tamil Nadu, and Andhra Pradesh, the sweltering heatwave in the northern parts of the country, and an ongoing water shortage crisis in metropolitan cities. People line up for water in Bhopal, Madhya PradeshIn 2016, when Leonardo DiCaprio won an Oscar for The Revenant (2016), the actor took to the coveted stage, with only one message for the world, "Climate change is real, it is happening right now. Directed by Nila Madhab Panda, who won a Special Mention at National Awards for the film, Kadvi Hawa is a story of a 70-year-old blind man fighting climate change to save his son in the drought-prone Bundelkhand region of India. That means the existing forests in the Himalayas, The Western Ghats, and Northeast will go, and it will take hundreds of years to replenish,” he reveals. Someone has to address it and I think literature can do that by telling a story.Amitav GhoshAnd despite the President of the United States of America, Donald Trump, terming climate change a hoax, it is real and more pressing than ever, especially for India. But the report is very clear that every country in the world must start moving their economy to low-carbon, India included,” he says. According to Dr. 

Inspired by the teenage Swedish climate change activist Greta Thunberg, Garima is joined by thousands of other school children and teenagers across the world in an international campaign called ‘Fridays for Future’.. "Our house is on fire,” she said, and just like that a 16-year-old dictated the manifesto for this century’s biggest concern: Climate Change. So any disaster on land will affect too many people in India,” he highlights. Whether it is in the deluge caused by melting glaciers in The Day after Tomorrow (2004), or the astronauts’ search for an alternative home in Interstellar (2014), imaginations have taken flight at how the ‘end of the world’ would be like. Poorer a country, the more vulnerable it is to the impact of climate change,” says Bhushan.Fight goes onDespite the encouraging changes, the fight for climate change still needs to gain momentum.Additionally, the other significant contributing factors are the socio-economic conditions. "Leaders have to take initiatives to implement many radical policies because climate change will worsen otherwise and reach an irreversible stage in ten years. "It is important to understand that we get most of our rainfall in about 100 hours. 

A 14-year-old girl, her hair tied in a loose ponytail and a stern look on her face, is likely to be standing on the footpath, holding a cardboard banner that reads ‘Climate Strike’.5 degrees Celsius. 

So when we were introduced to the effects of global warming, its gravity would elude most. Now, there is a delay in the arrival of the monsoon and hence there is a delay in sowing grains and vegetables. And there are droughts in between. It is the most urgent threat facing our entire species and we need to work collectively together and stop procrastinating. In practice, the campaign calls on the governments to let go off a laissez-faire attitude towards climate change, but in spirit, it’s a collective plea for a fighting chance by the generation most susceptible to its consequences. All those things have been written about, but they have not consciously been thrust forward. TS Panwar, Director of Climate Change and Energy at WWF India, there’s a need for manifold actions at "multiple fronts related to policy, technology, finance, capacity building as well as a change in individual lifestyle choices. These observations gave me an insight into how cinema can play a big role in telling such stories. "Compared to all other countries except for Bangladesh, the population density is the highest. The week after, Mumbai received two days of heavy rainfall resulting in the city getting half-submerged in water. I see myself, my children and grandchildren facing the consequences of the government’s inaction.A still from Nila Madhab Panda’s climate change drama Kadvi Hawa (2017)Hence, in the contemporary batch of writers, Amitav Ghosh is among those who have consciously written about the cultural impacts of climate change. Tamil writer Ashokamitran’s Thanneer (Water) (1973) could be read as a forewarning in the writer’s exploration of the first water crisis caused in Chennai in the ’60s. From the Jnanpith award winner’s non-fiction seminal work The Great Derangement (2016) to his fictional novels The Hungry Tide (2004) and Gun Island (2019), Ghosh has been successfully capturing the cultural annihilation caused by the irreversible phenomenon.Not All is LostAs the IPCC indicated, the world today has 12 years before the fight becomes one-sided.Cause for alarmProf.” Hence, farmers are unable to make decisions on which crops to grow, when to sow and harvest, because of the unpredictability of rainfall. But according to Dr.In recent years, all the major natural disasters – the floods in Uttarakhand, Assam, Odisha, Kerala, Bihar, and other states, perennial droughts in parts of Maharashtra, Karnataka, Andhra Pradesh, Gujarat and Rajasthan, the killer heat waves in the north, the ravaging cyclones on the east and the west coast of the subcontinent and increased instances of water shortages across the major metropolitan cities of the country — can all be attributed to climate change. India currently is undergoing this transition. One such revolutionary movie, and what is India’s first feature film on climate change is Kadvi Hawa (2017). "Forest impact is very slowly demonstrated, unlike crops. Revealing observations from his research on the ground-level impact on the farmers, the first respondents to climate change, he says, "We used to get rainfall at the right time in June, July, August, September, and then get a full crop. Wetlands are also critical for groundwater recharge as well as hydrology of our rivers,” warns Babu. Every one has to come together if we want to solve this crisis,” he concludes. Any disturbance in the temperature gradient has huge implications on the monsoon. It’s like a basic maths lesson; more people, more damage.Greta ThunbergUntil now, the discourse about climate change was limited to the orbit of scientists, activists, and international diplomatic conferences, with only our science textbooks giving a slight peek into the phenomenon. Professor N. However, if you are driving along the road on a Friday, you will be met with an unusual sight.’ To prevent this, global carbon emissions have to be cut down by 45 percent by 2030.Of course, in recent times, Sir David Attenborough’s gut-wrenching documentary series Our Planet (2019) is responsible for introducing this crisis as a topic on dinner tables across the globe, Indian filmmakers are also waking up to the reality of the challenges posed by it. When thousands of drought-hit farmers and agricultural labourers demanded the government alleviate their poverty, a direct relationship between poverty and climate change got solidified in the public conscience. Global Wetland Outlook published in 2018, stated that we are losing our wetlands three times faster than forests and that 35 percent of wetlands globally have been lost since 1970. "The Composite Water Management Index Report released by the NITI Aayog in June 2018, suggested that 600 million people in India face high to extreme water stress. This, in fact, is a recent phenomenon,” enlightens Sivaramakrishnan.”Now, what aggrieves this already fragile climatic system is the emission of greenhouse gases and its core component CO. Although, last year, the Intergovernmental Panel on Climate Change (IPCC)’s special report on the effect of the Paris Agreement painted a grim image.

According to Dr.”The flood affected villagers travel on a boat in Gagalmari, Assam.8 degree Celsius this year, it clearly indicates the drastic effects of climate change. So when Thunberg unabashedly addressed an audience of adult diplomats at the World Economic Forum in Davos earlier this year, a strange irony permeated the room.According to the report, governments across the world only have 12 years to meet their goal of net-zero carbon emissions (CO ) by 2050.Climate Change – Our cultural realityHistorically, the narratives of the time have held a mirror to its socio-political-economic realities.But what has made India so vulnerable in the last few years? Bhushan answers, "India’s vulnerability is rooted in its climatic system itself. The result is the decrease in rainfall and increase in its intensity. But in the last couple of years, the physical manifestation of what until now was a theory has become real. 

Suresh Babu, Director, Rivers, Wetland and Water Policy at WWF India, this view may soon be a reality for major cities in India.If one has to visit the city of Bhopal, a drive on the famous VIP road along the banks of Bada Talab (Upper Lake) is a must. They have recognised that moving to renewable power and electric mobility is good for the economy and the environment, ” says Bhushan. The report adds that 21 major cities in the country are expected to run out of groundwater in the next two years, affecting water access for 100 million people. (Photo: AP)The Official WarningBut before our cultural reckoning, there needs to be a scientific backing.For the past 20 weeks, Friday is the designated ‘Day of Revolution’ for Garima Thakur. We only have a few years to do something radical, and stop climate change,” says Thakur, whose City of Lakes has witnessed acute water shortages, depletion of green cover and a significant rise in temperature over a decade.But another observation in the report throws our nationalistic preoccupations outside the window.H Ravindranath from the Indian Institute of Science (IISc) also points at the population density. The water crisis would lead to a 6 percent loss in the country’s GDP by 2030,” he says. The case in point can probably be highlighted when earlier this month, the Mumbai Municipal Chief blamed climate change for the delay of monsoon by a month. In a photo posted on his Instagram account, sari-clad distraught women were trying to fetch water from an empty well in Chennai, which is experiencing the worst water crisis in its history.Their concern can be best highlighted in what Delhi-based 15-year-old activist Asheer Kandhari says, "The youth of my generation and the next are going to be affected the most. Vulnerability is directly linked to poverty. Climate change is too important to be left to the government. Ravindranath is also currently heading the first national study on the impact of climate change in the country. In the Paris Convention 2015, a central aim was cemented to keep the global temperature rise below two degrees Celsius above the pre-industrial levels in this century, and to further limit the temperature increase to 1. Any changes in the rainfall pattern has huge implications on our water systems and hence to our lives and livelihoods,” adds Bhushan.According to the report, governments across the world only have 12 years to meet their goal of net-zero carbon emissions (CO ) by 2050. "Ignorance towards wetlands is showing up on the vulnerability of our cities — Chennai, Bangalore, Gurugram are some recent examples.”While both Thakur and Kandhari, have written e-mails to various government bodies, the lack of accountability and transparency forced them to raise their voices.A farmer checks on his wheat crop after unseasonal rain in AmritsarIt’s clear that we are not living in the time when the effects of climate change are limited to the melting of glaciers in the remote Arctic. He, himself ascribes to the idea of literature holding a mirror to the society when he says, "Climate change is the case with the entire world. Delhi is a classic example of a city, which has forgotten its rich culture built around wetlands and has become dependent on neighbouring states for its drinking water

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October 11, 2019

We will achieve sustainable growth

We will achieve sustainable growth ,” he said..We have made a very ambitious target and all non-fossil fuel energy mix capacity will be increased up to 40 per cent. Earlier this month, 195 countries reached a deal to attempt to limit the rise in global temperatures to less than two degree celsius at the climate change summit in Paris.


The commitments made in the Paris climate summit will not have any adverse effect on the country’s development and India will be able to achieve sustainable growth while reducing its carbon emissions, The commitments made in the Paris climate summit will not have any adverse effect on the country’s development and India will be able to achieve sustainable growth while 10mm hex nuts Manufacturers reducing its carbon emissions, Union minister of state for environment, forests and climate change Prakash Javadekar assured Parliament on Tuesday..Elaborating on the outcome of the Paris climate talks, the environment minister said it has been decided that differentiated action would be taken by developed and developing countries with respect to reducing carbon emissions.".Mr Javadekar, while replying to a host of questions on India’s commitments in the recently-concluded Paris summit during the Question Hour session in the Lok Sabha, said that the outcome of the summit was a victory for the nation and the country would reduce its carbon emissions. A target has been set to create an additional carbon sink of 2. We will reduce our emission intensity but at the same time, we will not stop our growth path..5 to 3 billion tonnes of CO2 equivalent in forests, he added. We will be energy efficient. We will walk the talk..

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October 08, 2019

Six guiding principles contained in progress report lay foundation

It would accordingly be desirable that while making key recommendations, there is acknowledgement of WTO agreements, the statement said.The statement comes a few days after after the government promulgated an ordinance to bar wilful bank loan defaulters as well as those with NPA accounts from bidding in auctions being done to recover loans.


The draft report has indicated support only for the WTO agreement on subsidies and countervailing measures which is not sufficient as there is another support measure sought to be covered in the key recommendations in the progress report which finds mention elsewhere in WTO agreements.Investment also depends on the nature of the market based on present and future demand in the sector, he said adding the state-owned enterprises and private companies compete on equal footing in the steel sector in India.

Government&China wholesale heavy hex nut39;s policy approach for exit of financially stressed units certifies transparency in the process with the # possibility of takeover by alternate efficient management under the new bankruptcy law, Steel Minister Chaudhary Birender Singh said. Steel Minister Chaudhary Birender Singh.In order to take effective steps to address the challenges of excess steel capacity, members of the Global Forum agreed to share information, cooperate and develop concrete policy solutions.He was speaking at the Global Forum on excess steel capacity in Berlin on November 30."One such area of concern for India is regarding the basis of prescribing key recommendations.

On the basis of these principles, the Global Forum made few key recommendations. "While India agrees that the policy recommendations cover all market distorting subsidies and other types of support provided by government or government-related entities, there should be acknowledgement of existing WTO agreements," the statement said.."Steel being a deregulated sector in India, setting up of capacities is based on the investors own assessment of profitability in the sector," he said. While most of the key recommendations in the draft report generally have been agreed by all members, there are a few recommendations where some member countries have expressed caution, the statement said.

Six guiding principles contained in progress report lay foundation for taking tangible policy actions to reduce excess steel capacity."Steel companies have to sustain by being competitive and having a disciplined approach towards loan management," an official statement quoted the minister as saying. In view of the optimistic possibilities of the future of the steel sector, India is going to be a major destination for steel investors, he said."Six guiding principles contained in the progress report lay the foundation for taking tangible policy actions to reduce excess steel capacity," he said

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September 28, 2019

The other products on which duties will be hiked

While imports were at USD 26.The increased customs duties will come into effect from Sunday, an official notification said.But those negotiations came to a halt following the decision of the US to withdraw export incentives to Indian exporters under its Generalised System of Preferences (GSP) programme.5 billion from India to America.


America had in March last year imposed 25 per cent tariff on steel and a 10 per cent import duty on aluminium products.5 billion to the US every year.As part of the imposition of higher import duties on US products, India has notified higher tariffs on several goods.
The increased customs duties will come into effect from Sunday.While import duty on walnut has been hiked to 120 per cent from 30 per cent, duty on chickpeas, Bengal gram (chana) and masur dal will be raised to 70 per cent, from 30 per cent currently.India would get about USD 217 million additional revenue from such imports.India has also dragged the US to the World Trade Organisation&China metric nuts Suppliers39;s (WTO) dispute settlement mechanism over the imposition of import duties on steel and aluminium.

The other products on which duties will be hiked include certain kind of nuts, iron and steel products, apples, pears, flat rolled products of stainless steel, other alloy steel, tube and pipe fittings, and screws, bolts and rivets.Amending its June 30, 2017, notification, the Central Board of Indirect taxes and Customs (CBIC) said Saturday's notification will "implement the imposition of retaliatory duties on 28 specified goods originating in or exported from USA and preserving the existing MFN rate for all these goods for all countries other than USA".

As India is one of the major exporters of these items to the US, the move has revenue implication of about USD 240 million on domestic steel and aluminium products.The government had on June 21, 2018 decided to impose these # duties in retaliation to the US decision of significantly hiking customs duties on certain steel and aluminium products.The duty on boric acid and binders for foundry moulds would be hiked to 7.5 per cent, while that on domestic reagents will be increased to 10 per cent. It will impact goods worth USD 5. The move will hurt American exporters of these 28 items as they will have to pay higher duties, making those items costlier in the Indian market. 

The trade balance is in favour of India.India extended the deadline for imposition of these duties eight times in the hope that some solution would emerge during a negotiation between India and the US on a proposed trade package. (Photo: File) New Delhi: India on Saturday announced a hike in customs duties on as many as 28 US products, including almond, pulses and walnut, in response to higher tariffs imposed by Washington on Indian products like steel and aluminium.. Levy on lentils will be increased to 40 per cent.India exports steel and aluminium products worth about USD 1.The move will hurt American exporters of these 28 items as they will have to pay higher duties, making those items costlier in the Indian market. Earlier, there was no duty on these goods. These benefits were rolled back from June 5.India's exports to the US in 2017-18 stood at USD 47.Earlier, the list included 29 goods but India has removed artemia, a kind of shrimp, from the list

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September 25, 2019

The promoter and promoter group

The promoter and promoter group hold 42.The promoter and promoter group hold 42. metric nut Mumbai: Sajjan Jindal-led JSW Steel has said it will consider raising additional long-term resources, including issuance of equity shares or other securities, through a rights issue at its board meet next week.Under the joint control model, a special purpose vehicle (SPV) will be set up and the acquired stressed assets will rest with the SPV.


The board will also finalise the un-audited standalone and consolidated financial results of the company for the quarter and half-year ended September 2018 and the payment of dividend at the contracted rate on the 10 per cent cumulative redeemable preference shares of the company for the financial year 2018-19, up to the date of its final redemption, it added. The joint control model will insulate debt impact of yet to be acquired stressed assets of these two firms on JSW Steel financials. If acquired, JSW Steel is exploring to merge the stressed assets of the both companies into its books post turnaround of the stressed assets." This assumes significance as JSW Steel's Rs 19,700 crore offer for debt-laden Bhushan Power and Steel (BPSL) has been backed by around 90 per cent of lenders.12 per cent is held by the public.56 per cent each. JSW Steel had earlier teamed up with NuMetal Mauritius to place a Rs 37,000-crore offer for Essar Steel in the second round of bidding. However, the Essar Steel's committee of creditors Friday picked ArcelorMittal as the highest bidder under the IBC. Employee trust and non promoter-non public hold 0.Bhushan Power is among the 12 non-performing accounts referred by the RBI for NCLT proceedings and owes about Rs 45,000 crore to its lenders. Sajjan Jindal-led JSW Steel has said it will consider raising additional long-term resources, including issuance of equity shares or other securities, through a rights issue at its board meet next week.32 per cent stake in the company, while 57.According to a banking source, "JSW Steel is exploring differentiated financing options, including joint control model, to fund its acquisition of stressed assets of Bhushan Power and Steel..12 per cent is held by the public.

At its meeting on October 25, the board would be considering raising of additional long-term resources, including but not limited to, issuance of equity shares or other securities by way of a rights issue subject to regulatory approvals," JSW Steel said in a regulatory filing Saturday.32 per cent stake in the company, while 57.JSW Steel, with a capacity of 18 million tonnes per annum (mtpa), is engaged in manufacturing of flat and long products, namely hot rolled coils, cold rolled coils, galvanised products, galvalume products, colour coated products, auto grade/white goods grade flat products, bars and rods

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September 20, 2019

To prevent import of cheap steel

There is a need to create a special funding mechanism for providing capital for brown-field expansion of capacities at the existing steel mills, it said.. It also demanded for withdrawal of import duty of five per cent imposed upon metallurgical coke and coking coal to restore competitiveness in the domestic steel industry. 


Considering that higher transport costs result in higher costs of production of steel in India, there is an urgent need to bring down freight tariff rates by up to 25 per cent across all raw material and steel products to gain competitive edge, it said. "Banks should extend working capital loans to steel companies on a priority basis, especially those which have not defaulted on interest payment, while structural problems relating to high debts of various steel companies would take time to resolve," it added. (Representational Image) The steel ministry should bring down rate of royalty on iron ore to reduce the cost of raw materials for steel plants. 

Transporters charge exorbitant rates for movement of iron ore and other raw materials from mines and ports to steel plants, besides they also prevent free competition through their dominating presence in local areas," it said. "A comprehensive package for steel sector should be unveiled encompassing special financing arm for providing capital for expansion of capacities, carbon steel nut Manufacturers easy extension of working capital loans, long-term policy on freight tariffs and augmenting transportation infrastructure capacity to meet needs of steel production," it said in a statemeant. 

To prevent import of cheap steel, it asked for measures like imposition of minimum import price (MIP) and safeguard duties on a sustained basis and inclusion of pig iron, sponge iron and billets in the list of products covered under MIP. The steel ministry should bring down rate of royalty on iron ore to reduce the cost of raw materials for steel plants, it added.The steel ministry should bring down rate of royalty on iron ore to reduce the cost of raw materials for steel plants. 

 Industry body Assocham on November 3 urged the Centre to initiate certain measures for the domestic steel sector such as extending easy financing, devising long-term freight tariff policy and augmenting transportation infrastructure among others. Assocham has suggested the government to constitute an authority either at the central or state level to fix the ceiling on road freight rates with a view to break local monopolies

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