Arcelor Mittal, Nippon Steel invite EoI for steel fabrication unit in Andhra Pradesh
The Hindu
ArcelorMittal and Nippon Steel seek EoI for a steel fabrication unit near their new Integrated Steel Plant in Andhra Pradesh.
ArcelorMittal/Nippon Steel India (AM/NS) invited Expressions of Interest (EoI) from qualified and experienced suppliers for the establishment of a dedicated steel fabrication unit in proximity to the proposed Integrated Steel Plant (ISP) at Rajayyapeta in Anakapalli district.
The company stated in the notification inviting EoI that the execution timeline for the steel fabrication unit will be up to four years.
The interested suppliers have been asked to submit a comprehensive company profile detailing current business operations, annual turnover, current manufacturing capacity and monthly volume commitment through the new unit.
AM/NS planned to establish a state-of-the-art ISP at Rajayyapeta with an initial production capacity of 8.20 MTPA with a port-integrated facility. Around 1 million tonnes of fabricated steel structure will be required to build the mega project.
AM/NS submitted a proposal to the Government of A.P. (GoAP) to establish a 17.80 MTPA ISP in two phases and the same was approved in November, 2024.
The GoAP has since allocated approximately 2,200 acres of land for the project.
SIPs experience their worst February in five years, with contributions dropping 3.7% amid cautious investor sentiment.
Stock markets rebound nearly 1% as crude oil prices drop, led by gains in major firms amid easing geopolitical tensions.
Government requests Lok Sabha approval for ₹2.81 lakh crore in additional FY26 expenditure, as tabled by Finance Minister Sitharaman.
Cabinet approves amendments to the Insolvency and Bankruptcy Code and Companies Act, enhancing corporate laws efficiency.
India relaxes FDI norms for countries sharing land borders, including China, amid evolving trade relations and geopolitical tensions.
Fertilizer Association of India assures adequate urea and phosphatic supplies for Kharif season despite geopolitical tensions affecting logistics.
India prioritizes natural gas allocation to key sectors amid disruptions from the Strait of Hormuz, invoking the Essential Commodities Act.
IDFC First Bank settles ₹645 crore fraud claims from its Chandigarh branch, confirming no further discrepancies or pending claims.
Trump bought more than $500,000 of Netflix’s bonds in two transactions on December 12 and December 16 and another more than $600,000 across two more trades on January 2 and 20, the disclosures show
Oil Ministry forms panel to address commercial LPG shortages impacting hotels and restaurants amid escalating geopolitical tensions.
Rupee rebounds to 92.14 against the dollar, supported by a weaker greenback and strong equity market opening.
Stock markets rebound sharply as Sensex and Nifty recover from declines, driven by falling crude prices and improved global sentiment.
The move deepens Microsoft’s ties with Anthropic at a time when investors have questioned its dependence on OpenAI