Le 11 août 2014, 06:57 dans Humeurs • 0
Geradu likely to inaugurate steel plant in Andhra in Oct
Hyderabad: Brazil’s special steel giant, Gerdau will inaugurate its Indian steel plant in October this year. This is the company’s first investment in Asia.
Spread across 846 acres, the steel plant will have an installed capacity of 300,000 tonnes. The plant located in Tadipatri in Anantapur district of Andhra Pradesh has been set up at an investment of $400 million.
Executives of Gerdau Special Steel on Wednesday met Chief Minister N. Chandrababu Naidu to invite him for the inauguration. The delegation was led by Executive director of the company Mark Marcucci, executive vice president and chief financial officer Andra Pires De Oliveira Dias and executive vice president Guilherme C. Gerdau Johannpeter. The officials also discussed expansion plans with the chief minister.
Steel production rises 7.9% in past five years
New Delhi: Indian steel production has registered compound annual growth rate of 7.9 % in the past five years on back of rise in consumption and high utlisation ratio, according to Economic Survey.
“In the last five years, domestic crude steel production grew at a compound annual growth rate of 7.9%. Such an increase in production was driven by 9.8% growth in crude steel capacity, high utilisation rates and a 7% growth in domestic steel consumption,” the survey added.
Construction segment accounts for 60% of India’s steel demand followed by automobiles accounting for 15% of steel consumption. Both these sectors had a bad run last fiscal.
The survey further added that during 2013-14 the capacity utilization stood at 82%; although the consumption grew marginally by 0.6%.
JSW Steel’s Vijaynagar Plant bags PM’s trophy for Excellence in performance
Mumbai: JSW Steel’s Vijayanagar plant situated in Karnataka has been bestowed with the prestigious Prime Minister’s Trophy for excellence in performance for the year 2012-13. The Vijayanagar unit is the first integrated steel plant in the country to produce 10 million tonnes of steel from a single location.
The trophy has been awarded for being the best integrated steel plant in the country based on overall performance and different parameters.
“Winning the Prime Minister’s Trophy for our Vijayanagar facility is a matter of great pride for us and reinforces our commitment to pursue excellence in all our endeavours. I am confident that this award will go a long way in setting new benchmarks in efficiency and practices,” expresses Dr Vinod Nowal, Deputy Managing Director, JSW Steel.
The award, intended to spur steel plants to achieve international standards of efficiency, quality and economy in operations, is evaluated by the panel of judges comprising technologists, economists, consumers of steel and workers’ representatives. The award is evaluated on a set of criteria covering operational, financial, market, export, quality, customer satisfaction, environment and human resource related parameters.
It is awarded annually by the Prime Minister of India and carries a trophy along with a cash prize of Rs2 crore. The award will be bestowed by Honourable Prime Minster Narendra Modi at a ceremony to be held in New Delhi.
EPC World News Bureau