JSW Steel Cuts FY25 Capex Plan
JSW Steel has announced a substantial reduction in its capital expenditure (capex) plan for FY25, slashing it by up to Rs 4,000 crore as part of a strategic re-evaluation of ongoing and future projects. The steel giant decided to defer its Vijayanagar plant’s Blast Furnace 3 expansion, a major project originally slated to significantly boost its production capabilities. The move is largely driven by cost-control measures in response to changing economic and market conditions within the steel industry. The original capex plan, designed to fuel growth and meet the projected demand surge in Ind..
India’s Toll Collection Enters GNSS Era
India is moving towards a revolutionary transformation in toll collection technology by transitioning from the current FASTag system to a Global Navigation Satellite System (GNSS)-based tolling. This shift is set to enable seamless and efficient tolling on Indian highways, facilitated by satellite technology that will replace traditional toll plazas and automatic deduction systems currently used by FASTag. The National Highways Authority of India (NHAI) is spearheading the adoption of GNSS, which utilizes a satellite-based tracking system to determine the distance each vehicle travels on tolle..
India’s Push for Green Steel Manufacturing
The Indian government is crafting a special incentive package aimed at accelerating green steel manufacturing within the country. Spearheaded by the Ministry of Steel, this initiative seeks to support India’s transition to sustainable industrial practices by encouraging the steel sector to adopt low-carbon production methods. Traditional steel production is highly energy-intensive and contributes significantly to carbon emissions, making decarbonization a priority as India advances its net-zero goals. Key components of this incentive package include promoting green hydrogen and renewable ene..