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...
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Govt of India transfers ECs of 19 coal blocks from the recently allocated coal mines
The Centre has so far transferred the environment clearance (EC) of 19 coal blocks out of approved 29 mines from the earlier allottees to the new successful bidders including JSW Steel , GMR Chhattisgarh Energy, Jaypee Cement and Ambuja Cements among others. In a bid to expedite operations from the...
Green nod for bauxite mining near marine park in Gujarat
The Union Ministry of Environment, Forest & Climate Change has recently given its nod to two Bauxite mining projects, located in close proximity to the Marine National Park and a wildlife sanctuary in Jamnagar. The first environment clearance has been given to New Delh-based M/s Orient Abrasives...
Aluminium futures marginally up on global cues, spot demand
Aluminium futures traded a shade higher at INR 106.90 per kg today as participants strengthened their positions, supported by an upward trend overseas. Further, a rising demand at the domestic spot market also influenced metal prices. At the Multi Commodity Exchange, aluminium for delivery in June...
LIC hikes stake in Hindalco to over 13%
Aditya Birla-led Hindalco today said insurance giant LIC has raised its stake in the aluminium maker to over 13 per cent. In a BSE filing, Hindalco said LIC acquired 2.009 per cent stake in the firm through open market transaction between April 16 and June 17, 2015. After the transaction, the...
Nalco expects its alumina output to rise by 1 million tonne in next 4.5 years
Nalco expects its alumina output to rise by 1 million tonne in next 4.5 years, of which 21.8 lakh tonne can be obtained in FY16, NR Mohanty, CMD, Nalco told CNBC-TV18. Nalco made a record profit of Rs 1322 crore last year but now the market is crashing due to Chinese dump entering the aluminum...
MCX Aluminium futures inch up on overseas cues
Aluminium prices edged up 20 paise to INR 108.55 per kg in futures trade today as participants enlarged positions amid a firming trend overseas. Strong demand in the spot market also influenced metal prices. Aluminium for delivery in June inched up 20 paise, or 0.18 per cent, to INR 108.55 per kg...
BoA extends validity of Vedanta SEZ
The Board of Approvals for Special Economic Zones (SEZs) under Union commerce & industry ministry has extended the validity of Vedanta Ltd's product specific SEZ at Jharsuguda by one year. The BoA has granted the extension to the developer at a recent meeting. The validity of the SEZ has been...
Vedanta Group announces merger of Vedanta Limited and Cairn India Limited
Vedanta Limited, Cairn India Limited ("Cairn India") and Vedanta Resources plc ("Vedanta plc" together with its subsidiaries, the "Group"), today announce a merger between Vedanta Limited and Cairn India (the "Transaction"). Key Highlights • Minority shareholders of Cairn India will receive for...
Odisha Govt backs L&T for bauxite mining lease in Rayagada
With Larsen & Toubro (L&T) agreeing to set up a three million tonne aluminum refinery in two phases of 1.5 million tonne each at Rayagada, the Odisha government today recommended to the Centre the grant of Mining Lease (ML) for Sijurumali and Kuturumali bauxite mines to the company putting an end...
Emerging markets fund Lambasa backs Ashapura Minechem's acquisition of Orient Abrasives
Mumbai-based mineral producer and exporter Ashapura Minechem Ltd has joined hands with emerging markets-focused private investment firm Lambasa Global to jointly acquire Orient Abrasives Ltd from the promoters for about INR 90 crore (approximately $14 million), according to a stock market...
Vedanta signals potential merger of Indian units in restructuring effort
Oil and metals producer Vedanta Resources Plc (VED.L) signalled on Tuesday it is considering a merger of two or more of its Indian subsidiaries, which could provide the debt-burdened units access to cash from other operations. In a statement which disclosed the possibility of a merger of its...
Make in India, auto industry to push aluminium production in India
Aluminium production in India is expected to see a significant rise due to growing demand for the metal triggered by "Make in India" as well as revival of the country's automobile industry. Experts say that the demand for the metal will increase significantly, especially in infrastructure and...
India's Nalco gets access to Pottangi reserves for refinery project
After over two decades of waiting, India's largest integrated aluminium producer National Aluminium Company Limited (Nalco) will commence mining operations at the Pottangi project, in the eastern province of Odisha, where bauxite reserves have been estimated at 70-million tonnes. According to a...
Odisha wants Sasubohumali bauxite mines for OMC
After securing the Karlapat bauxite mine in favour of Odisha Mining Corporation (OMC), the state government has moved the Union mines ministry to reserve yet another bauxite deposit - Sasubohumali mine in the name of the state-owned PSU. "The government has already written to the central mines...
Auction method for coal linkages to be introduced
Aiming to bring transparency in allotment of coal linkages and their prices, the Ministry of Coal is working on the process to auction them to unregulated sectors like steel, cement or aluminium plants. The Ministry has accepted the high level panel report on auctioning of coal linkages to...
NALCO plans 3.5 lakh tonne aluminium output this fiscal
State run aluminium major, the National Aluminium Company Ltd (NALCO) has set a target to produce 3.5 lakh tonne of aluminium in the current financial year as per the MoU signed with the Ministry of Mines. The navaratna firm also aims to produce 21.50 lakh of alumina during the reporting period....
Major technical collaboration gets off the ground
Taking another step towards strengthening the decade long relationship between the two biggest companies in the Aluminium Industry in India and in China, Mr. Tom Albanese, CEO of Vedanta Resources PLC, visited pioneer of Chinese aluminium industry technology, China Aluminum International...
Shree Narmada Aluminium Industries standalone net profit rises 122.92% in the March 2015 quarter
Net profit of Shree Narmada Aluminium Industries rose 122.92% to INR 1.07 crore in the quarter ended March 2015 as against INR 0.48 crore during the previous quarter ended March 2014. Sales declined 88.89% to INR 0.10 crore in the quarter ended March 2015 as against INR 0.90 crore during the...
