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SAIL’s BSP WINS CII EXIM BANK AWARD
Bhilai Steel Plant, the flagship unit of state owned public sector steel manufactures SAIL, bagged the coveted CII-Exim Bank Award Prize. The Awards for the CII-Exim Bank award for Business Excellence. The award was given away recently during the Business Excellence Awards Nite, as part of the 23rd National Quality Summit, 2015 organised by the CII Institute of Quality at Bengaluru. S Chandrasekaran, CEO, Bhilai Steel Plant received the award. S Siddaramaiah, Chief Minister, Karnataka, gave away the awards. Congratulating the award winners, he said, “All the Award winners have done the country proud as brand ambassadors of Business
Tata Steel May sell Europe's long products business by end of FY16
Fall in commodity prices and weaker global economic recovery has led to more restructuring of Tata Steel’s UK business. The company will sell its long products Europe business by the end of 2015-16.The business manufactures plates, sections, wire rod and semi-finished steel for different markets, including construction, ship-building and engineering, energy and wire drawers. These products are made at its mills in Teesside and Scunthorpe in the
The steel maker, which reported Rs 16,948-crore turnover from Europe in the September quarter, said a “sharp deterioration” in market conditions impacted performance in the UK with an earnings before interest, tax, depreciation and amortisation loss of Rs 238 crore.Tata Steel has already made three restructuring announcements of its business in the UK since July this year.
Adani Ports to acquire L&T's Kattupalli Port
Adani Ports has entered into a pact with Larsen & Toubro for acquiring the Kattupalli Port in Tamil Nadu. This is yet another step by the company to build a network of ports across the Indian coastline and expand its footprint across the South East Coast. The move comes on the heels of Adani Ports and Special Economic Zone (APSEZ) signing an MoU with Kerala to develop and operate Rs 4,089 crore Vizhinjam International Deepwater Multipurpose Seaport Project on PPP mode. The Kattupalli Port is located adjacent to Ennore Port, where APSEZ, part of the USD 10 billion Adani Group, is developing the Ennore container terminal. "APSEZ, India's largest port developer and operator has, through its subsidiary Adani Kattupalli Port Private Limited (AKPPL), entered into an in principle agreement for strategic acquisition of the Kattupalli Port in Tamil Nadu from L&T Shipbuilding Limited (LTSB) a subsidiary of Larsen & Toubro Limited," the company said in a statement.