ISPAT INDUSTRIES: BLOW HOT, ROLL COLD
Article Abstract:
Ispat Industries Ltd (IIL) is setting up a 3-million tonne hot strip mill at Dolvi in Maharashtra. The hot-rolled coils (HRC) project is not viewed as a profitable venture by the investors. The project cost has increased by Rs1,200 crore to Rs4,845 crore. The first phase of the project has become operational. Two other group projects, Ispat Energy and Ispat Metallics are yet to be completed. IIL's HR coils project is dependent on the above two projects for supply of inputs like hot metal and power. The second phase of the HRC project was scheduled to be operational by June 1998. It is now expected to be commissioned by May 1999. IIL has hived off the captive power plant from the project. Industrial Finance Corporation of India (IFCI) has halved the profit estimates for the project in its reappraisal. IIL has issued preferential shares worth Rs342 crore to the financial institutions. FIs and banks have invested Rs3,000 crore in IIL. The Ispat Metallics blast furnace project is estimated to cost Rs1440 crore. It will commence operations by November 1998. It will supply hot metal to IIL. (rk)
Comment:
Is setting up 3-mil tonne hot strip mill at Dolvi in Maharashtra, India
Publication Name: Economic Times
Subject: Business, international
ISSN: 0013-0389
Year: 1998
User Contributions:
Comment about this article or add new information about this topic:
RK ISPAT - RUSTED, CORRODED STEEL
Article Abstract:
RK Ispat's public issue does not seem to be a good investment proposition. The Rs2 crore issue will fund its 1,800 tonnes per annum steel alloy project at Bhiwani in Haryana. The project is expected to cost Rs3.30 crore. The issue opens on June 30, 1998 and closes on July 3, 1998. The project will funded through a term loans worth Rs0.70 crore from the Haryana Financial Corporation (HFC) and Rs0.71 crore from the Haryana State Industrial Development Corporation. The promoters stake is expected to fall from 100 percent to 37.50 percent after the issue. The company has not paid any dividend for 1996-97 and it recorded a low profit of Rs0.20 crore. This does not infuse confidence in the investors. (ag)
Comment:
Public issue of co to fund 1,800 tonnes per annum steel alloy project does not seem to be a good investment proposition
Publication Name: Economic Times
Subject: Business, international
ISSN: 0013-0389
Year: 1998
User Contributions:
Comment about this article or add new information about this topic:
ESSAR STEEL TO SET UP Rs600-CR BLAST FURNACE AT HAZIRA
Article Abstract:
Essar Steel Ltd (ESL) is setting up a blast furnace at its Hazira steel mill at a cost of Rs600 crore. The blast furnace will be operational by April 1999. It will increase the hot-rolled coils (HRC) capacity to 3 million tonnes per annum with the addition of the necessary balancing facilities. Now, there are 3 electric arc furnaces. The Hazira plant manufactured 1.53 million tonnes of HRC in 1997-98 against an installed capacity of 2 million tonnes. This reflects a capacity utilisation of 77 percent and 19 percent increase in tonnage from that in 1996-97. In the last quarter of 1997-98, its capacity utilisation was 93 percent and peaked to 103 percent in March 1998. (gsh)
Comment:
Sets up blast furnace at its Hazira steel mill at cost of Rs600 crore and will be operational by 4/99
Publication Name: Economic Times
Subject: Business, international
ISSN: 0013-0389
Year: 1998
User Contributions:
Comment about this article or add new information about this topic:
- Abstracts: TEC NET RISES 39% GUJARAT INDUSTRIES POWER COMPANY LIMITED: FINANCIAL RESULTS. KPCL CHARGED UP WITH RECORD PROFIT
- Abstracts: HEADS HIGH - ROOFIT INDUSTRIES. WINNERS ALL THREE - ACC
- Abstracts: ARBL POSTS 106% RISE IN NET, TO PAY 45% DIVIDEND INDO NATIONAL POWERS SHAREHOLDERS WITH 1:1 BONUS LAKHANPAL NATIONAL-MATSUSHITA: NOW USING GREY CELLS