Tata Steel starts operation at the Neelachal Ispat plant in Odisha

06 Oct 2022 CW Team

The Odisha-based Neelachal Ispat Nigam Ltd (NINL) has begun operations nearly 90 days after being acquired by a Tata Steel subsidiary in a bidding process for Rs 120 billion, according to a statement released on Monday.

The plant, which has a capacity of 1.1 million tonnes of steel, has been closed for nearly two years for a variety of reasons. Tata Steel Long Products (TSLP), a Tata Steel subsidiary, announced in a statement that the blast furnace at its subsidiary NINL had been restarted just 90 days after the acquisition was completed on July 4, 2022.

"Given that the site had not been in operation for two years, we wanted to restart the furnace quickly, deploying and demonstrating Tata Steel's strong execution capabilities," said T V Narendran, Chairman of Tata Steel Long Products Ltd & NINL. Narendran, who is also the CEO and Managing Director of parent Tata Steel, stated that the focus is now on gradually ramping up production to rated capacity as planned.

Tata Steel intends to invest in the NINL site over the next few years to construct a dedicated 4.5 million tonnes per annum long products complex.

Real Estate

26 Apr 2025

Dharavi Rising

Dharavi, Asia’s largest informal settlement, stands on the cusp of a historic transformation. With an ambitious urban renewal project finally taking shape, millions of residents are looking ahead with hope. But delivering a project of this scale brings immense challenges – from land acquisition to rehabilitate ineligible residents outside Dharavi and rehabilitation to infrastructure development. It also requires balancing commercial goals with deep-rooted social impact. At the helm is SVR Srinivas, IAS, CEO & Officer on Special Duty, Dharavi Redevelopment Project (DRP), Government..

MLDL Records 20.4% Growth in Pre-Sales

Mahindra Lifespace Developers Limited (MLDL), the real estate and infrastructure development arm of the Mahindra Group, announced its financial results for the quarter ended March 31, 2025. In line with INDAS 115, the company recognises revenues using the completion of contract method. Key highlights FY25: Consolidated sales (Residential and IC&IC) of Rs 32.99 billion. Gross development value (GDV) additions in FY25 were Rs 1.81 trillion compared to Rs 440 billion in FY24 (~4x growth). Residential pre-sales of Rs 28.04 billion in FY25, reflecting 20.4% growth o..

UCSL Delivers India's First Green Cargo Vessel to Norway

In a landmark achievement for Indian shipbuilding and the Atma Nirbhar Bharat initiative, Udupi Cochin Shipyard Limited (UCSL), a subsidiary of Cochin Shipyard Limited (CSL), has delivered the first of six next-generation green cargo vessels to Norway-based Wilson Ship Management AS, Europe’s largest short-sea shipping operator. The 3,800 DWT vessel, named Wilson Eco 1, was handed over during a ceremony at New Mangalore Port. The delivery is part of a Rs 5.06 billion project supported by Norway’s green maritime funding programme, marking India's entry into the European eco-friendly ca..