Bosch SDS, Dassault Systèmes collaborate to advance AI-led manufacturing in India
Bosch Software and Digital Solutions (Bosch SDS) and Dassault Systèmes today announced a collaboration in India to help manufacturing enterprises accelerate digital transformation across product engineering, manufacturing operations and industrial value chains. The collaboration brings together...
Adani-IHC expand Odisha investment plans to $25bn across 14 projects
Abu Dhabi-based International Holding Company (IHC) and India’s Adani Group have expanded their investment plans in Odisha, outlining INR 2.105 trillion (USD 25 billion) of potential investment across 14 projects spanning metals, critical minerals, energy, chemicals and infrastructure. The...
Grow with
AL Circle
Vedanta confirms no change in swap ratio despite stock price fall
Vedanta Ltd has said it stands by the share swap ratio, proposed as part of the plan to merge Cairn India Ltd with itself, despite a near 30% fall in the share of Vedanta since the merger was announced last month. “Swap ratio is not only based on the market prices of the shares but it also take...
Further fall in aluminium prices will make production cut inevitable
Aluminium producers in India seem to be worried with the slump in metal’s price. The aluminum arm of India’s Vendanta Ltd is just about scrambling to keep its business viable. Underutilized capacity is already adding to their cost; sources say any further fall in the metal prices would likely force...
RINL director TK CHand to head NALCO
Rashtriya Ispat Nigam Limited director (Commercial) TK Chand is all set to take charge as the new chairman-cum-managing director of National Aluminium Company Limited (NALCO) on July 27. The Department of Personnel in the Union government issued the appointment order to this effect Tuesday evening....
Odisha to provide raw material to Vedanta Aluminium through OMC
Odisha Government will provide raw material to Vedanta Aluminium through Odisha Mining Corporation (OMC) to feed its refinery plant at Lanjigarh in Kalahandi district. This was informed by the Steel and Mines Minister Prafulla Mallick on Wednesday. The Minister said the government is taking steps...
KSPG Automotive India’s new plant near Pune to be ready by end-2015
The Plain Bearings business unit of KSPG Automotive India is setting up a new plant at Supa, 75km to the east of Pune, for production of raw materials used in the manufacture of plain bearings. The need for a new plant has been necessitated by the fact that the company’s lease for the existing...
India's Mines Ministry agrees on doubling of aluminium import tax
The Mines Ministry of India, after being approached by AAI and leading aluminium makers of the country last week, has agreed on the issue of increasing import tax on aluminium. The Ministry will ask its counterparts in the government’s finance department to double the import tax to counter cheap...
China's SEPCO hands over first unit of Balco's INR 5,000-Cr plant
China's Shandong Electric Power Corporation or SEPCO on Tuesday handed over the first unit of Balco's INR 5,000-crore 1,200 MW power plant to the aluminium producer. Bharat Aluminium Company (Balco), a part of the billionaire Anil Agarwal-led Vedanta Group, said work will start on the remaining...
Vedanta scales down aluminium business, job cuts on the cards
Despite speculations regarding production cuts in Chinese smelters, global aluminium prices have shown no signs of improvement. This has forced India's Vedanta Group to scale down their aluminium business. They may also consider substantial job cuts to reduce overhead cost, said Abhijit Pati, CEO,...
Aluminium down 0.3% on weak global cues, low spot demand
Tracking a weak trend in the base metals pack at the London Metal Exchange (LME) and low demand at spot market, aluminium prices eased by 0.33 per cent to INR 105.55 per kg in futures trade today as speculators reduced positions. In futures trading at the Multi Commodity Exchange, aluminium for...
Aluminium firms seek increase in import duty
Forced to operate their plants at nearly half the capacity due to burgeoning imports from China, aluminium companies on Thursday urged the government to raise import duty on aluminium metal scrap and the metal itself to 10% from 2.5% and 5%, respectively. In a presentation to the mines ministry,...
Pro Fin Capital's Terra Natural Resources signs agreement with Indo Ferro Metal for bauxite ores supply
Pro Fin Capital Services Ltd's subsidiary, Tera Natural Resources Private Limited (Tera) has signed agreement with Indo Ferro Metal Private Limited, Gurgaon, Haryana for supply of 2,00,000 tons of bauxite ores. The discussions are also at final stage between Tera and HINDALCO Ltd for supply of...
India plans $3 billion aluminum smelter in Iran
India plans a $3 billion aluminum smelter complex in Iran, now that nuclear negotiations between Tehran and the P5+1 countries have concluded, media reports say. The idea was mooted in 2014 but India has been cooling its heels for the removal of sanctions on Iran to go ahead with the plan. India’s...
India becomes the largest importer of aluminium scrap from Middle East
Nasser Aboura, chairman of U.A.E.-based Aboura Metals, said the nonferrous scrap sector in the Middle East and North Africa region has grown along with the oil and construction industries that have characterized the region in the past several decades. The region has exported considerable amounts of...
Aluminium Association of India (AAI) meets government, seeks 10% import duty on Chinese imports
The Aluminium Association of India (AAI), the industry body of Indian aluminium producers, met the Secretary, Ministry of Mines and Chairman of Central Board of Excise and Customs on Thursday, seeking government action to protect the cheap imports and crushing meltdown in global prices by imposing...
BIR welcomes India’s latest scrap metals import provision
The Brussels-based Bureau of International Recycling (BIR) has issued a statement applauding the latest provisions issued by India’s Directorate General of Foreign Trade (DGFT) with regard to self-certification of imported, processed metallic scrap. The BIR, along with national trade associations...
Aluminium rises by 0.4% on global cues
Taking positive cues from global market and strong demand at domestic spot markets, aluminium prices edged up 0.38% to INR 106.65 per kg in futures trade today as participants enlarged positions. Marketmen said apart from increased domestic demand, a firming global trend as Chinese economic data...
Non-Ferrous Minerals and Metals Conference projects positive outlook for India despite bearish market situation
The International Conference on Non-Ferrous Minerals and Metals; organized by Corporate Monitor, which has earned its reputation as a forum for the domestic and international Non-Ferrous industry players as well as industry experts, just concluded its 19th session on July 10, 2015 in Bhubaneswar....
Industry demands import duty hike on aluminium metal, scrap
To protect the interest of homegrown companies from rising imports of aluminium metal and its scrap, the aluminium industry has demanded that the Centre increase import duty on these products. As per statistics of Aluminium Association of India, Indian Aluminium Industry has seen a huge surge in...
