Government informed today that it has cleared the proposed 20 Percent disinvestment in SAIL Ltd ,that would fetch a total of Rs 16,000 .They will follow the two-tranche disinvestment, the government and the company would get Rs 8,000 crore each.Post disinvestment, the government’s equity will fall to 69 per cent from 85.82 per cent currently.
Sail FPO stake Sale
The stake sale will take place in two tranches of 10 per cent each, Chidambaram said, adding that each time 5 per cent will be through further public offer (FPO) and another 5 per cent through sale of government equity.
Shriram EPC Ltd has informed the market that the company has been awarded 107 crore worth order from SAILfor Durgapur Steel Plant, The work is for Engineering, Procurement, Supply and Installation of a 1 Million Tonne Per Annum (MTPA) capacity Medium Structural Mill as part of Durgapur Steel Plant’s 3 MTPA expansion programme. The work is part of consortium wghich includes Shriram EPC along with its partners – Siemens VAI, Italy and Siemens VAI Metal Technologies Pvt Ltd, India. The
value of the order for just shriram EPC is Rs. 107 crore.
Larsen & Toubro Limited informed the market that its construction division has bagged orders worth INR1181 crore for construction of power transmission line and substation works.
> It has secured 2 orders from UAE, On order is for INR265 crore and has been received from Dubai Electricity and Water Authority (DEWA) for supply, installation, testing of 132 kV EHV cabling.The execution time of the project is 18 months.
>Abu Dhabi Distribution Company has placed an EPC order of INR100 crore for construction of Power Distribution Network. The execution time of the project is 16 months.
>Third Order is worth INR376 crore and has been secured by the Company’s JV in Muscat from Oman Electricity Transmission Company for executing on EPC basis 200 kmof 200 kV Double Circuit Overhead Transmission Line.
>Another order is National order and the order is worth INR246 crore from Power Grid Corporation and INR74 crore for construction of 36 km long 400 kV Transmission Lines.
>Final order again a national order , which is secured for INR120 from SAIL for expansion of their 4.5 MTPA Roukela Steel Plant.
McNally Bharat Engineering Company Ltd has informed the market that they have bagged order worth 115.92 crore from Steel Authority of India Ltd, IISCO Steel Plant, Burnpur, West Bengal .
The order is for Water Supply System for CCP & BOF for a total price Rs 115.92 crores inclusive of tax and duties.
Execution time is 18 months from the Effective Date of Contract.
Steel Authority of India net profit declined 56.41% to Rs 843.34 crore in Qtr ending december 2008 for the financial year 2008-2009 compared to Rs 1934.66 crore in qtr ending december 2007. Sales declined 6.43% to Rs 8920.63 crore in Qtr ending december 2008 for the financial year 2008-2009 compared to Rs 9533.29 crore in qtr ending december 2007.
Steel Authority of India net profit rose 18.20 Percent to Rs 2009.60 crore in Qtr ending September 2008 for the financial year 2008-2009 as against Rs 1700.24 crore in qtr ending September 2007. Sales rose 33.56 Percent to Rs 12238.59 crore in Qtr ending September 2008 for the financial year 2008-2009 as against Rs 9163.49 crore in qtr ending September 2007.
BEML and SAIL has signed agreement by which SAIL shall purchase 261 mining equipment over three years. The estimated value of these equipment is about 4.77 billion rupees.Apart from this, the maintenance contract for the equipment to be supplied is valued at 3 billion rupees.
BEMl also signed another contract with Coal India
BEML has also signed a 12-year agreement with Coal India Ltd to jointly produce off the road (OTR) tyres. The OTR tyres will be produced by Apollo Tyres and JK Tyres.Coal India will fund BEML to a tune of 2 billion rupees, for investing 1 billion rupees each in Apollo and JK Tyres.
Steel Authority of India net profit rose 31.50% to Rs 1934.66 crore in Qtr Dec 2007 compared to Rs 1471.19 crore in Dec QOQ of 2006. Sales rose 11.67% to Rs 9533.30 crore in Qtr Dec 2007 compared to Rs 8537.07 crore in Dec QOQ of 2006.
SAIL and Tata Steel Ltd signed a joint venture coal mining Company in the State of Jharkhand. Both the Company and Tata Steel will hold 50% each of the paid-up capital in the joint venture Company. The Joint Venture Company would initially be mining 4 nos. of identified coal blocks in India.