Tata Steel to spend Rs.2,000 crore on environment in Chhattisgarh

September 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.

September 16th, 2009 RAIPUR - Chhattisgarh Chief Minister Raman Singh Wednesday justified the commercial tax department's decision Monday to attach a bank account of Bhilai Steel Plant (BSP) to recover Rs.408 crore due as entry tax amount. "The government has right to levy entry tax and Bhilai Steel Plant should have abided by government decision," Singh told reporters here.

July 31st, 2009 NEW DELHI - Tata Power's net profit for the quarter ended June 30 has more than doubled to Rs.396.97 crore ($83 million) as compared to Rs.162.55 crore in the like period last year. The total income has increased marginally to Rs.2,123.2 crore from Rs.2,113.3 crore, the company said in a statement.

July 29th, 2009 MUMBAI - Steel major Tata Steel's net profit fell 46.93 percent in the quarter ended June 30 to Rs.789.83 crore ($163 million) from Rs.1,488.4 crore in the like period last year. Total income of the company decreased 8.16 percent to Rs.5,661.89 crore during the quarter from Rs.6,165.14 crore a year earlier.

July 25th, 2009 MUMBAI - Telecom services provider Tata Communications Saturday said its net profit for the quarter ended June 30 fell 67 percent to Rs.32 crore ($6.6 million) as against Rs.98 crore in the same period last fiscal. Tata's stand-alone revenue also fell 3.2 percent to Rs.843 crore for the quarter under review from Rs.871 crore, the company said in a statement.

July 11th, 2009 BHILAI - India's steel production will surge to 124 million tonnes (MT) per annum by 2011-12 from the current figure of 65 mt, Steel Minister Virbhadra Singh said here Saturday. "There is a massive expansion going on in the steel sector in country, both in the public and private sectors, that will see India becoming a major steel producer by 2011-12 when its steel production will be 124 mt from the present production of 65 mt," the minister said at a press conference here.

June 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.

May 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).

May 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.

April 24th, 2009 RAIPUR - Raids by the Economic Offence Wing (EOW) Friday on the premises of a sub-engineer with Chhattisgarh Rural Engineering Service revealed assets worth at least Rs.10 crore (Rs.100 million), including a small steel plant and a chemical factory, an official said. Four separate teams of the EOW, led by Deputy Superintendent of Police U.R.

February 12th, 2009 KOLKATA - Steel major Tata Steel will not focus on any acquisition 'for the time being', a top company official said here Friday. 'We will go slow on acquisition plans.

February 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.

February 3rd, 2009 LOHANDIGUDA - Chhattisgarh Chief Minister Raman Singh says the Tatas will get all his support to set up a $2-billion new steel unit in the state given the benefits it will bring to one of India's most backward areas, even as the project is facing rough weather over acquisition of farmland. Tata Steel had signed an agreement in June 2005 with the state government to set up the project in Bastar district, one of the country's most impoverished areas, with an annual capacity of five million tonnes at a cost of Rs.10,000 crore (Rs.100 billion).

January 26th, 2009 MUMBAI - State-owned steel manufacturer, Steel Authority of India (SAIL), Tuesday announced its net profits had declined in the third quarter by 56.4 percent to Rs.8.43 billion (Rs.843.34 crore) from Rs.19.35 billion (Rs.1,934.66 crore) in the year-ago period. The company's net sales were down 7.14 percent to Rs.88.52 billion (Rs.8,852.26 crore) for the period under review, against Rs.95.33 billion (Rs.9,533.3 crore) in the corresponding previous quarter.

January 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.