JSW Steel’s Odisha plant clears another hurdle
JSW Steel’s proposed integrated Utkal steel project at Jagatsinghpur, Odisha has received the consent of local residents. JSW plans to invest Rs53,700 crore for the 12mn mt/pa steel plant. Earlier, locals had protested against the construction of a similar plant by the South Korean steel giant Posco, at the same site. The local government is keen about JSW setting up a steel plant at the site but is yet to hand over land for the same.
NMDC hikes ore prices for second time in January
India’s state-owned iron ore producer, National Mineral Development Corporation Limited (NMDC) raised the prices of iron ore fines and lump by Rs350- 400/mt for January deliveries. The new prices were effective from January 19. This is the second price hike in January. Earlier, the company had hiked prices of iron ore by Rs200/mt on January 2 2020.