Vizag Steel Plant Misses Payment; Lenders Seek Remedies

Karnataka to establish 100 police stations with Rs 200 cr investment

Karnataka Chief Minister Siddaramaiah announced the establishment of 100 new police stations and the construction of 10,000 police quarters by 2025, during the police remembrance day ceremony. He honored 216 policemen who lost their lives in the line of duty, including 12 in Karnataka. “It is the government’s duty to provide housing for policemen. We will build 10,000 residential quarters by 2025, for which ?2,000 crore has been allocated,” said Siddaramaiah. He confirmed that ?200 crore has been sanctioned for the new police stations. Additionally, the Chief Minister revealed plans to..

Tata Steel UK signs contract for electric furnace in green steelmaking

Tata Steel has announced a contract with Italy-based Tenova to deliver a cutting-edge electric arc furnace (EAF) as part of its green steelmaking initiative in the UK. This significant agreement, established last week for the Port Talbot site—Britain's largest steelworks—aims to reduce carbon emissions by 90% annually once operational by late 2027. Under the contract, Tenova will provide an EAF capable of producing 3 million tonnes of steel per year, matching the output of recently decommissioned blast furnaces by utilizing scrap steel sourced from the UK. UK Business and Trade Secretary J..

Government approves 3 pilot projects for hydrogen in steelmaking

The government has approved three pilot projects aimed at utilizing hydrogen in steel production, as announced in an official statement. Matrix Gas and Renewables, in collaboration with Gensol Engineering, the Indian Institute of Technology Bhubaneswar, and Sweden's Metsol AB, has been selected to develop a pilot plant with a capacity of 50 tonnes per day (TPD). The project’s total capital expenditure is estimated at ?321 crore, with the Indian government providing 50% in capex incentives to support this innovative initiative. Another consortium, Simplex Castings, which includes BSBK Pvt Ltd..