FREIGHT WILL EAT INTO STEEL-MAKERS KITTY
Article Abstract:
The marginal profits of steel producers from lower outward freight charges for steel products will be neutralised by higher landed price of raw materials like coal and iron ore, as announced in the 1998-99 budget. Lower freight charges of around Rs13 to Rs20 per tonne will be accrued for deliveries beyond 600 kilometres with the reclassification on freight applicable to steel products. Consequently, there will be a total reduction of around Rs1000 per wagon loading of 55 tonnes capacity. For destinations beyond 1500 kilometres, the maximum freight reduction benefit will be around Rs20 per tonne. But for steel producers located away from the markets in north, south or west, the gains on freight charges will be offset by higher charges for coal and iron ore. (gsh)
Comment:
India: Higher landed price of raw matls to neutralize marginal profits of steel producers from lower outward freight charges
Publication Name: Economic Times
Subject: Business, international
ISSN: 0013-0389
Year: 1998
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SUJANA STEELS TURNOVER UP 38 PERCENT
Article Abstract:
The sales turnover of Sujana Steels Limited (SSL) has increased by 38 percent to Rs151.53 crore for 1997-98 (Rs109.59 crore in 1996-97). It posted a net profit of Rs6.95 crore which is a six percent rise over Rs6.56 crore in 1996-97. Its interest burden went up to Rs7.79 crore (Rs6.70 crore) while total expenditure stood at Rs135.37 crore. This is a rise of 43 percent. SSL has set aside Rs1.29 crore as depreciation charges and Rs96.06 lakh for taxation. The enhanced paid up equity capital stood at Rs7.36 crore. (uh)
Comment:
Firm's sales turnover rises 38% to Rs151.53 crore for 1997-98 vs Rs109.59 crore in 1996-97
Publication Name: Economic Times
Subject: Business, international
ISSN: 0013-0389
Year: 1998
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TRACTEBEL PICKS UP 74% STAKE IN SUJANA POWER
Article Abstract:
Tractebel Energy South Asia Pvt Ltd (TESA), a part of Tractebel Energy of Belgium, has picked up 74 percent stake in Sujana Power. Sujana Power, promoted by Sujana Steels of Hyderabad, has bagged the Tuticorin and Gangaikondam short gestation power projects. The capacity of each project is 103.20 mw. These projects are part of the 20 short gestation power projects being promoted by the Tamil Nadu Industrial Development Corporation on behalf of the Tamil Nadu Electricity Board. (gs)
Comment:
Tractebel Energy South Asia Pvt Ltd (TESA), a part of Tractebel Energy of Belgium, has picked up 74 percent stake in Sujana Power.
Publication Name: Economic Times
Subject: Business, international
ISSN: 0013-0389
Year: 1998
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