15 February 2019

Latest Energy Market News

SAIL presents a divestment plan for Durgapur Alloy Steel Plant

(Asia Pacific): Indian state-owned Steel Authority of India (SAIL) called for expression of interest from International and local companies for the sale of its Alloy Steel Plant located at Durgapur, West Bengal.

 

British Steel extends its long term supply agreement with Translink

(Europe): British Steel renewed a long term agreement with Translink, a Northern Ireland based rail operator to supply rail steel for the next eight years.

 

Nissan to build a production facility in Algeria

(Africa): Japanese auto giant Nissan announced to build a car production facility in Algeria partnering with Hasnaoui group of Algeria. The project would cost $160 million, and the plant will be able to produce 63,500 vehicles annually. The production is expected to start in 2020.

 

NLMK paid $160 million in tariffs

(North America): NLMK Pennsylvania paid $160 million in tariffs after section 232, to keep its plants operational in the US. The company imports more than 2 million tonnes/year of slabs for downstream production. The company had already suspended its $600 million expansion plan owing to post-tariff conditions.

 

Taishan Group has started building  a stainless steel rolling mill

(Asia Pacific): Shandong-based Taishan Iron and Steel Group has begun construction of its 800k tonnes/year stainless steel cold rolling mill in February. The project is expected to be completed at the end of this year.