JSW Steel Ltd., India’s third- largest producer of the alloy, will start a 65 billion-rupee ($1.2 billion) expansion to turn around a unit that reported the biggest annual loss among the nation’s steelmakers.
Steel Authority of India Ltd., the country’s second-biggest maker of the alloy, will stop work at an iron ore mine in the eastern state of Odisha to make way for an elephant corridor, two people familiar with the matter said.
Tata Steel Ltd., Steel Authority of India Ltd. and JSW Steel Ltd. may increase their share of the $34 billion Indian market as new rules to upgrade product quality force smaller rivals to shut factories.
Attacks by Maoist rebels in India are preventing the nation’s second-largest maker of steel from mining an iron-ore reserve it says is vital to feed a planned $3 billion expansion of its biggest plant.
Steel Authority of India Ltd., the nation’s second-biggest maker of the alloy, may fail to revive profit from an eight-year low as project delays more than double the cost of a planned capacity expansion to $13 billion.
Jindal Power Ltd., a unit of India’s biggest steelmaker by market value, plans to spend $7.7 billion on hydroelectric projects over the next decade as a coal shortage forces utilities to cut dependence on fossil fuels.