ArcelorMittal South Africa to Close Long Steel Operations

29 Nov 2023 CW Team

ArcelorMittal South Africa is set to close its long steel operations, a move that will result in the elimination of 3,500 jobs, as reported recently. This strategic decision is part of the company's efforts to streamline its operations and enhance overall efficiency in response to market dynamics.

The closure of long steel operations is a significant restructuring measure undertaken by ArcelorMittal South Africa to align its business with current market demands. This move aims to address challenges faced by the company within the long steel segment, allowing it to focus on areas with greater growth potential.

The decision to cut jobs reflects the company's commitment to maintaining a sustainable and competitive position in the industry. While workforce reductions are always challenging, ArcelorMittal South Africa emphasises the necessity of these measures for the long-term viability of the organisation.

ArcelorMittal South Africa will work closely with affected employees and relevant stakeholders to minimise the impact of the workforce reduction. The company remains dedicated to fulfilling its responsibilities to employees and the community during this transition.

This strategic move is part of ArcelorMittal's ongoing efforts to adapt to market dynamics and ensure a resilient future. The company aims to emerge stronger and more agile by focusing on areas that align with evolving industry trends and demands.

Infrastructure Urban

06 Apr 2026

InsideFPV Delivers ₹10 Crore Kamikaze Drone Order Under MoD’s EPR Route

InsideFPV, a Surat-based drone technology manufacturer, has successfully executed a ₹10 crore defence contract to supply indigenous kamikaze drones under the Ministry of Defence’s Emergency Procurement Route (EPR). The company completed the delivery of hundreds of FPV kamikaze drone platforms within a rapid two-month timeframe, highlighting its ability to meet urgent military procurement timelines.The supply orders were fulfilled under the emergency procurement mechanism, which is aimed at fast-tracking acquisitions for immediate operational needs. InsideFPV’s quick execution reflects it..

Vedanta Resources Secures Fitch Upgrade to ‘BB-’, Best Rating Since 2015

Vedanta Resources Limited (VRL), a global player in metals, oil & gas, critical minerals, power and technology, has received a credit rating upgrade from Fitch Ratings, marking its strongest bond rating in over a decade.Fitch has raised Vedanta Resources’ Long-Term Foreign-Currency Issuer Default Rating (IDR) to ‘BB-’ from ‘B+’, while maintaining a Stable Outlook. The agency also upgraded VRL’s senior unsecured rating, along with the ratings of US dollar-denominated bonds issued by Vedanta Resources Finance II Plc and guaranteed by VRL, to ‘BB-’.The upgrade represents Vedan..

NAREDCO NextGen NCR Chapter Launched

The NAREDCO NextGen NCR Chapter was recently launched at Excelerate 2026 in Mumbai, marking a key step towards integrating emerging real estate leaders from the National Capital Region with the national platform. The initiative aims to promote sustainable and responsible urban development through collaboration and knowledge exchange.The event brought together young developers, entrepreneurs, and professionals from across NCR, including Noida, Gurugram, Ghaziabad, Faridabad, Bhiwadi, and Meerut. Discussions focused on urban development, finance, sustainability, innovation, and policy, emphasisi..