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Following the proposed acquisition, Tata Steel will become the majority stakeholder and IQ Martrade will exit from the JV entity View More
With up to 20% better fuel efficiency, the trucks are designed to improve operating efficiency while helping fleet operators reduce the carbon intensity of their transportation operations View More
The Competition Commission of India has approved Tata Steel’s acquisition of an additional 23% stake in TM International Logistics from IQ Martrade. The transaction will raise Tata Steel’s holding to 74%, making it the majority shareholder, while NYK Europe will retain 26%. IQ Martrade will exit the joint venture. View More
The Competition Commission of India (CCI) on Tuesday approved Tata Steel Ltd ’s proposed acquisition of an additional 23% equity stake in TM International Logistics Ltd (TMILL), paving the way for the steelmaker to become the majority shareholder in the logistics joint venture . The proposed transaction involves Tata Steel acquiring the entire 23% stake held by existing joint venture partner IQ Martrade Holding Und Management GmbH. Following the completion of the deal, IQ Martrade will exit TMILL, while Tata Steel’s stake will rise to 74%. Also read: Tata Sons AGM deferred for lack of quorum, first in group’s history "The proposed combination pertains to the acquisition by Tata Steel Ltd of the entire shareholding comprising 23 per cent equity shares held by one of the existing joint venture partners, ie, IQ Martrade Holding Und Management GmbH in TM International Logistics Ltd, and the consequent exit of IQ Martrade from TMILL," CCI said in a release. NYK Europe, the third partner in TMILL, will retain its 26% equity stake after the transaction, the regulator said. Live Events TMILL joint venture TMILL is a public limited company established as a 51:23:26 joint venture between Tata Steel, IQ Martrade and NYK Europe. It was incorporated primarily to meet Tata Steel’s logistics and cargo transportation requirements . In a post on X, the regulator said, "CCI approves acquisition of 23 per cent equity shareholding of TM International Logistics Ltd by Tata Steel Ltd." Also read: Tata Steel bets on higher prices, cost savings to lift FY27 margins After the proposed combination is completed, Tata Steel and NYK Europe will hold 74% and 26% respectively in TMILL, CCI said. The proposed transaction requires regulatory clearance as it crosses the thresholds prescribed under India’s competition law. The CCI is responsible for reviewing such combinations and preventing practices that could have an adverse impact on competition in the market. .Pbanner{display:flex;justify-content:space-between;align-items:center;background-color:#ec1c40;margin-top:20px;padding:5px 10px;border-radius:4px;color:#fff;line-height:10px;width: 100%;box-sizing: border-box} .Pbannertext{display:flex;align-items:center;font-size:16px;font-weight:600;font-family:'Montserrat';} .Pbannertext img{height:20px;margin:0 6px} .Pbannerbutton a{display:flex;align-items:center;background-color:#fff;color:#ec1c40;text-decoration:none;font-weight:600;padding:4px 8px;border-radius:6px;font-size:15px;font-family:'Montserrat';} .Pbannerbutton img{height:20px;margin-right:6px} .Pbannerbutton a:hover{background-color:#f7f7f7} Add as a Reliable and Trusted News Source Add Now! (You can now subscribe to our Economic Times WhatsApp channel) (You can now subscribe to our Economic Times WhatsApp channel)
The country is keen to import steel from India via a shorter, alternative route; It would lower its logistics cost, the industry member said View More
The Steel Ministry has introduced a melt-and-pour clause for domestic steel procurement. This policy tightens rules for suppliers participating in government tenders. It ensures that procured steel meets specific incentive program compliance standards. Sector watchers believe this benefits domestic steel makers significantly. Micro, small, and medium enterprises may face margin constraints due to import curbs. View More
The Steel Ministry has introduced melt-and-pour clause in the Domestically Manufactured Iron & Steel Products Policy. This tightens the regime to ensure local procurement by suppliers to government tenders. A notification dated earlier this month mandated melt-and-pour in flat-rolled products of iron or non-alloy steel, bars and rods, hot-rolled, in irregularly wound coils, of iron or non-alloy steel, and electrical steel and other articles of iron or steel among others. A melt and pour mandate ensures the steel being supplied is compliant with an incentives programme under which it is being procured. The guardrail can specify countries of origin to prevent circumventing import barriers. Sector watchers say this is beneficial for domestic steel makers who stand to gain significantly from the tighter localisation mandate. Micro, small, and medium enterprise suppliers may face constrained margins due to higher demand for local steel and curbs on imports. Also Read | India's small steelmakers could save money and cut emissions with switch to renewable power “The melt and pour mandate will curb instances of importing steel by traders and then selling it to suppliers in government procurement,” a steel industry representative told ET. Live Events A 20% purchase preference is granted to domestic suppliers of capital goods used in steel manufacturing under the Domestically Manufactured Iron & Steel Products Policy. It applies to contracts exceeding Rs 5 lakh for iron and steel products . Further, Global Tender Enquiries are barred up to Rs 200 crore for iron, steel, and capital goods procurements without requisite approvals. Also Read | Jindal Stainless investing Rs 900 crore to increase cold rolling capacity to 2.67 MT by FY28: MD Under the revised mandate in force from August 7, most steel products in the list of iron and steel products which can only be procured from domestic sources. Railway coaches, wagons, parts of locomotives, and steel tubes and pipes are among the commodities that continue to be governed under the 50% Domestic Value Addition mandate. This exemption has irked seamless pipes manufacturers that seek the melt and pour mandate extended to their products as well. .Pbanner{display:flex;justify-content:space-between;align-items:center;background-color:#ec1c40;margin-top:20px;padding:5px 10px;border-radius:4px;color:#fff;line-height:10px;width: 100%;box-sizing: border-box} .Pbannertext{display:flex;align-items:center;font-size:16px;font-weight:600;font-family:'Montserrat';} .Pbannertext img{height:20px;margin:0 6px} .Pbannerbutton a{display:flex;align-items:center;background-color:#fff;color:#ec1c40;text-decoration:none;font-weight:600;padding:4px 8px;border-radius:6px;font-size:15px;font-family:'Montserrat';} .Pbannerbutton img{height:20px;margin-right:6px} .Pbannerbutton a:hover{background-color:#f7f7f7} Add as a Reliable and Trusted News Source Add Now! (You can now subscribe to our Economic Times WhatsApp channel) (You can now subscribe to our Economic Times WhatsApp channel)
Hindustan Copper plans significant capital investment over the next five to six years. This expansion drive includes exploration and mine revival initiatives. The company is also pursuing strategic partnerships for growth opportunities. Rising domestic copper demand fuels these ambitious expansion plans. Hindustan Copper aims to bolster India's mineral security through these efforts. View More
New Delhi: State-owned Hindustan Copper Ltd (HCL) on Tuesday said it is planning capital investment of over Rs 7,000 crore over the next five to six years, as part of an expansion drive that includes exploration, mine revivals and strategic partnerships. In a regulatory filing, the company said it has taken several strategic initiatives in the copper and critical minerals segment, and has lined up capital investment of over Rs 7,000 crore planned in the next 5-6 years. Also read: Vedanta emerges successful bidder for manganese block in Andhra Pradesh The development assumes significance in the wake of the country's rising copper demand, driven by infrastructure expansion, renewable energy, electric mobility and other clean-energy applications. The company, in a regulatory filing, said it has added 135.52 million tonnes of copper ore reserves and resources in the past three years, underlining a steady improvement in its resource base. Live Events HCL said it is actively pursuing the acquisition of new copper deposits both within India and overseas. A key focus of the plan is the reopening of closed mines across the country to ramp up domestic production, the firm added. Hindustan Copper also announced a collaboration with CODELCO, Chile's state-owned copper company, aimed at capacity building, knowledge sharing and technical cooperation in mining, beneficiation and exploration. Domestically, HCL has signed multiple memoranda of understanding with leading public sector undertakings like RITES , Indian Oil Corporation , Coal India , Oil India and GAIL , to expand its mining footprint and bolster India's mineral security. The company is the sole vertically integrated producer of refined copper in the country, with capabilities spanning mining, ore beneficiation, smelting, refining and extrusion of copper rods. HCL holds all the operating mining leases for copper ore in India and controls access to about 45 per cent of the nation's copper ore reserves and resources. Hindustan Copper's combined resources and reserves stand at 767.37 million tonnes. The company's market capitalisation stood at Rs 51,619 crore. .Pbanner{display:flex;justify-content:space-between;align-items:center;background-color:#ec1c40;margin-top:20px;padding:5px 10px;border-radius:4px;color:#fff;line-height:10px;width: 100%;box-sizing: border-box} .Pbannertext{display:flex;align-items:center;font-size:16px;font-weight:600;font-family:'Montserrat';} .Pbannertext img{height:20px;margin:0 6px} .Pbannerbutton a{display:flex;align-items:center;background-color:#fff;color:#ec1c40;text-decoration:none;font-weight:600;padding:4px 8px;border-radius:6px;font-size:15px;font-family:'Montserrat';} .Pbannerbutton img{height:20px;margin-right:6px} .Pbannerbutton a:hover{background-color:#f7f7f7} Add as a Reliable and Trusted News Source Add Now! (You can now subscribe to our Economic Times WhatsApp channel) (You can now subscribe to our Economic Times WhatsApp channel)
West Bengal CM Suvendu Adhikari laid the foundation stone for the company's greenfield integrated steel manufacturing project in Raghunathpur in West Bengal's Purulia district View More
The study is expected to generate operational data and insights into the suitability of the technology for long-duration energy storage applications View More
The coal miner plans to bid for more iron ore blocks, but only where the economics work, as it prepares to enter pelletization after winning an Odisha mine at a 114% premium. View More
Indian stocks remained subdued on August 17, with the Nifty down 0.11% and the Sensex down 0.19% due to ongoing Middle East conflicts and high crude oil prices. Despite this, midcap and small-cap indices saw slight gains. View More