Land acquisition major problem for Orissa's mega projectsSeptember 17th, 2009 BHUBANESWAR - The Orissa government, which Thursday reviewed the progress of 14 greenfield projects underway in the state, said most of the companies setting up these projects have not completed land acquisition. "Acquiring land is the biggest problem before these mega projects.
Tata Steel signs bonus agreement with workers' unionSeptember 16th, 2009 KOLKATA - Tata Steel management has signed a bonus agreement with employees, the company said Wednesday. The agreement was signed for annual bonus to the employees of the steel major's Jamshedpur unit, including the tubes division, for 2008-09.
Steel projects worth $26 bn pending in Jharkhand: ReportAugust 4th, 2009 RANCHI - Steel projects worth Rs.125,940 crore ($26.4 billion) are hanging in the balance in Jharkhand as the state government is yet to give approvals to them, an industry lobby report said Tuesday. The report by the Associated Chambers of Commerce and Industry (Assocham), said: "Steel players like ArcelorMittal, Tata Steel and others are waiting for different forms of clearances for the last four years, which otherwise should have been cleared in two years."
Releasing the report at a seminar here, Assocham secretary general D.S.
Tata Motors launches Jaguar, Land Rover in IndiaJune 28th, 2009 MUMBAI - Tata Motors, one of India's top automobile manufacturers, launched its Jaguar, Land Rover brands in India on Sunday. Addressing a press conference here on the occasion, Ratan Tata, the chairman of the Tata Group, said: "It's quite a memorable day in the history and heritage of Tata Motors...JLR has been well received and well established in India (in the past), but over the years this brand has been disconnected from India."
"I think, the cars will exhibit the levels of technology and levels of performance here.
Tata steel net down 60 percentJune 25th, 2009 NEW DELHI - Tata Steel, India's largest steel producer, Thursday reported 60 percent fall in its consolidated profit for 2008-09. The steel major's net profit stood at Rs.49.51 billion ($1 billion) in 2008-09, down from Rs.123.5 billion recorded the year before, the company said in a regulatory statement.
Maoists kill Tata Steel project supporterJune 19th, 2009 RAIPUR - Maoist rebels Friday gunned down a man in a market in Chhattisgarh village for his vocal support of a mega Tata Steel project, police said. According to police, armed insurgents shot dead Vimal Meshram, 42, an influential tribal leader, in full public view.
India's Tata Steel downgraded amid burden of foreign acquisitionsJune 8th, 2009 Tata Steel downgraded on weakness of UK unitMUMBAI, India — Moody's downgraded the company rating of India's Tata Steel Ltd on Monday because of weak performance at its U.K. Corus unit — sign of how troublesome Tata's ambitious overseas acquisitions have become since the global financial crisis hit.
Tata Steel resets covenants on Corus loanMay 30th, 2009 MUMBAI - Tata Steel has reached an agreement with lenders of Tata Steel UK for resetting the covenants on the 3.7 billion pound loan raised for the acquisition of Anglo-Dutch steel maker Corus. This comes two days after group company Tata Motors announced a revision in the maturity deadline on the bridge loan for its acquisition of Jaguar Land Rover (JLR).
Syamal Gupta retires as Tata BP Solar chairmanMay 15th, 2009 NEW DELHI - Tata group veteran Syamal Gupta has retired as chairman of Tata BP Solar after 53 years with India's largest industrial house. He will be succeeded by BP Solar's chief executive Reyad Fezzani.
Tat Steel commissions 120 MW gas-based plantMay 6th, 2009 JAMSHEDPUR - Industrial Energy Ltd (IEL), a joint venture between Tata Steel and Tata Power, Wednesday commissioned a 120-MW power plant that will run on waste gas produced by the steel major. The plant, built at an investment of Rs.490 crore, will supply the entire generated power to Tata Steel to help the company meet its growing power requirements in its Jamshedpur unit, an official statement said.
Tata Steel hopes to save $831 mn from Corus operationsMarch 11th, 2009 KOLKATA - Steel major Tata Steel is hopeful of saving 600 million pounds ($831 million) between October 2008 and March 2009 from its Corus operations, a top official said here Tuesday. Last year, the company had launched a cost-cutting programme to save this amount to tide over the economic crisis.
Now, Chhattisgarh farmers oppose Tata Steel projectFebruary 3rd, 2009 LOHANDIGUDA - Tata Steel, which ran into land acquisition problems in Orissa's Kalinga Nagar district, now faces farmers' ire over a proposed Rs.100-billion (Rs.10,000-crore) steel plant in Chhattisgarh. In June 2005, the steel major signed an agreement with the state government to set up the plant, with an annual manufacturing capacity of five million tonnes, in Bastar, one of India's most impoverished districts.
Tata Steel sales down 14 percentJanuary 5th, 2009 RAIPUR - The country's largest steel maker Tata Steel Tuesday reported a 14 percent fall in sales in the October-December quarter over the corresponding period uin 2007. According to an official statement, the company's total sales during the period stood at 1.07 million tonnes.
Tribals stage protest against Tata Steel project in OrissaJanuary 1st, 2009 BHUBANESWAR - Thousands of tribals Friday staged a demonstration against a proposed Tata Steel plant in Orissa's Jajpur district, while about 200 people supporting the project took out a counter-rally. Armed with bows and arrows, tribal protestors including hundreds of women raised anti-project slogans and took out a massive rally at the Kalinga Nagar industrial complex, some 100 km from here.
Gas leaks in Tata Steel unit, one deadDecember 29th, 2008 RANCHI - One man died and two others were injured when gas leaked in a blast furnace unit of Tata Steel in Jamshedpur Tuesday, an official said. M.K. Manjhi died on the spot when gas leaked around 11 a.m.
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