KWEKWE-BASED wire-making company, Lancashire Steel says it needs an additional ZWL$19 million to ensure it smoothly emerges from the woods after closing down in 2010 due to operational constraints. The firm, which is about to resume operations recently received ZWL$2 million from Government through the Zimbabwe Asset Management Company (Zamco). In an interview, Lancashire Steel…
DetailsFinance Minister Nirmala Sitharaman said that to boost demand in the automobile sector several temporary relief measures will be introduced including an increased depreciation cost for automobiles for corporates and businesses, however, she stopped short of giving a GST cut for automobiles, something the industry has been lobbying for. All BS-IV vehicles purchased upto March…
DetailsXining Special Steel said that its revenue in the first half of the year was 4.388 billion yuan, up 29.6% from a year earlier, and net profit was 58.4685 million yuan, up 365.05% from a year earlier, according to a semi-annual report released by Xining Special Steel on the evening of Aug. 20. According to…
DetailsTurkey’s military pension fund, OYAK, has reached a provisional agreement to buy steelmaker British Steel, OYAK said on Friday August 16. OYAK is the biggest shareholder of Turkey’s largest steel producer, Erdemir Group, and this agreement is a step toward in its goal to become a regional leader in steel sector, OYAK said. British Steel…
DetailsIn many parts of the world, the outlook for growth in steel demand is quite modest. However, the region that continues to buck the trend is Southeast Asia. This area is a steadily developing market. All ASEAN countries recorded positive growth in 2018 – with similar projections expected, this year. Increased activity from the construction…
Details24 July marked ten years since the launch of the unique Magnitogorsk Iron and Steel Works (MMK) plate Mill 5000. Over its 10-year history, the unit has produced more than 10 million tonnes of hot rolled steel. Russian President Vladimir Putin attended the ceremony celebrating the unit being commissioned. He praised the work of the…
DetailsMetalloinvest, a leading global producer and supplier of HBI and iron ore products, and a regional producer of high-quality steel, has signed a binding agreement with the company Ultramar for the construction of a specialised terminal for the transfer of iron ore pellets and HBI at the Ust-Luga port, located in the Leningrad region. The…
DetailsGovernor of Zabaikalye Region Natalya Zhdanova, Chairman of the Board of Directors of Baikal Mining Company Valery Kazikaev and General Director of Baikal Mining Company Yury Ryabov solemnly declared start of construction of Udokan Mining and Metallurgical Plant. A memorial stone was placed at the construction ground level, with embedded special case containing a letter…
DetailsA Jeffersonville company has been granted relief from a Trump Administration trade policy that went into effect more than a year ago. POSCO Steel said that will allow it to increase production, which could create new jobs. The business, headquartered in South Korea, opened a location in the Port of Indiana in 2017, but policies…
DetailsNEW DELHI: Finance Minister Nirmala Sitharaman on Friday said the government will withdraw enhanced surcharge levied on long and short-term capital gains. The FM also announced the withdrawal of enhanced surcharge on FPIs. Pre-Budget position restored on surcharge on domestic investors too, she told media. Data showed FPIs have pulled out Rs 23,000 crore from…
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