Indian steel companies exporting to the European Union (EU) are facing significant challenges as the implementation of the carbon border adjustment mechanism (CBAM) in 2026 threatens to dent their profitability by up to 30 per cent. The CBAM, scheduled to come into effect in 2026, aims to shield domestic manufacturers in six sectors, including iron […]
A high-level committee that met in Belgaum approved the establishment of 14 enterprises with a total capital investment of Rs 34,115 crores, which includes Foxconn’s proposal to invest an additional amount of Rs 13,911 crore in Karnataka, said Chief Minister Siddaramaiah. These capital investments are expected to employ over 13,300 people across the state, said […]
JSW Steel is entering into an equal joint venture with JFE Steel Corporation of Japan to manufacture grain-oriented steel sheets. These sheets find a use in the electrical industry. According to information, in Vijaynagar, Karnataka, where JSW runs a 12 million-tonne steel plant, the downstream facility will be built. The companies did not disclose the […]
JSW Steel has posted an 11.70 per cent rise in its net profit at Rs 3,741 crore for March quarter 31, 2023, against Rs 3,343 crore in the year-ago period. According to stock exchanges’ filing, total income rose to Rs 47,427 crore from Rs 47,128 crore in the year-earlier quarter. The company also said total […]
JSW Steel on Wednesday said that its USA unit (JSW Steel USA) plans to invest USD 145 million in upgrading its manufacturing operations in Mingo Junction, Ohio, according to the company’s regulatory filing. The move is aimed at meeting the demand for quality steel products “melted and manufactured in the US,” in alignment with President […]
JSW Steel reported 6.24 million tonnes of group combined crude steel production in Q3 FY23, representing a 17 per cent year on year (YoY) increase, including production at jointly controlled entities. Production increased by 10 per cent quarter on quarter (QoQ) due to improved average capacity utilisation at JSW Steel and Bhushan Power & Steel […]
