Page 22 - COAug2022

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CONSTRUCTION JSW Steel Limited reported 5.88 million tonnes of combined crude An eminent jury comprising high ranking officials from both
JSW STEEL GROUP LOGS 5.88 MILLION TONNE CRUDE
STEEL PRODUCTION IN Q1FY23
Government and Private Sectors chose the winners.
TATA STEEL LOGS PRODUCTION VOLUME OF 4.92
steel production for Q1FY23, a 16% increase on a year-on-year
MILLION TONS IN Q1FY23
basis, including production at jointly controlled entities.
Tata Steel India Limited reported crude steel production of 4.92
JSW Steel Indian Operations reported a decline of 2% QoQ at
5.62 million tonne production in Q1FY23 as against 5.71 million
million tons in Q1FY23, registering a growth of 6% yoy.
tonnes in the quarter ended March 2022. Further, on a yoy basis, it
registered a growth of 37% against Q1FY22 at 4.10 million tonnes.
to moderation in exports following the imposition of 15% export
duty. However, Domestic deliveries were ramped up leveraging
Production of Indian Operations including Joint Control stood at Deliveries stood at 4.06 million tons, declining by 2% yoy due
5.72 million tonnes in the quarter under review as against 5.88 the company’s strong marketing network & agile business model
million tonnes in the previous quarter, registering a decline of 3% and clocked growth of 5% yoy. Tata Steel Europe steel production
QoQ, and a growth of 16% on yoy basis. Due to the preponement jumped 5% QoQ but was marginally lower on yoy basis. Total
of certain scheduled shutdowns during the fiscal year 2022-23, deliveries stood at 2.16 million tons and declined on yoy basis
crude steel production was lower sequentially. trailing the production. Tata Steel Aashiyana’s revenue during the
JSW Steel is the flagship company of the $22 billion JSW Group. quarter, an e-commerce platform for Individual Home builders,
JSW Group, one of India’s leading business conglomerates, is registered a growth of 77% yoy to `457 crore.
also involved in energy, infrastructure, cement, paints, sports, and Automotive & Special Products’ segment deliveries witnessed a
venture capital. growth of 22% yoy on a broad-based recovery across all sub-
segments.
LEMON TREE HOTELS SIGNS A NEW HOTEL IN ANJUNA, Tata Steel will continue to closely monitor the resurgence of
GOA COVID-19 cases and will take appropriate actions in accordance
Lemon Tree Hotels has announced its latest signing - Lemon Tree with the regulatory authorities while keeping in mind the health
Hotel, Anjuna, Goa. This property is expected to be operational by and safety of its employees and the community, as well as the
March, 2023, and shall be managed by Carnation Hotels Private interests of its customers and other stakeholders.
Limited, a subsidiary and the management arm of Lemon Tree
Hotels Limited. TATA STEEL INTENDS TO REOPEN NINL STEEL PLANT IN THE
Located in North Goa, Anjuna is known for its trance parties held NEXT 3 MONTHS
on its beach during the tourist season (October - April), as well as According to Tata Steel’s CEO and MD T V Narendran, the
the famous flea markets that come alive every Wednesday and company plans to restart the 1 million tonnes (MT) NINL steel plant
Saturday. It is well-connected with air and railway as the Thivim within the next three months. Through its subsidiary business Tata
Railway Station is 16 km away while the Goa International Airport Steel Long Products (TSLP), Tata Steel completed the acquisition of
is at a distance of 44 km. NINL on Monday for a price of `12,000 crore. The facility in Odisha
The area is known for the St. Michael’s Church, Anjuna, founded in has been shut down for over two years.
1595, which is dedicated to S. Miguel, and celebrates the feasts When asked about the company’s future plan for the recently
of S. Miguel and Nossa Senhora Advogada. purchased steel factory, Narendran told PTI that Tata Steel’s next
Located in Anjuna, this property will feature 51 well-appointed step would be to assume ownership of NINL and work hard with
rooms, complemented by a restaurant, bar, spa, swimming pool the company’s staff and other stakeholders to realize the asset’s
and gym. It will also have a meeting room. full potential. “We are prepared to collaborate with current staff
members to reopen the factory, which has been idle for over two
BRIGADE EL DORADO WINS PRESTIGIOUS PMAY AWARD years. The senior official stated, “We plan to begin production
Brigade Group-led Brigade El Dorado, located in North within the next three months and scale up to the rated capacity
Bengaluru has won the Pradhan Mantri Awas Yojna Award under during the next twelve months.
the Affordable Housing projects developed in Partnership with The designs for the NINL capacity extension to 5 million tonnes
Public & Private sectors category in the PMAY- Empowering India will also be finalized during this period, and Tata Steel will get
Awards 2022 held in New Delhi on July 08, 2022. The award was the necessary internal and external permissions. On January 31,
handed over by Shri Kaushal Kishore, Honorable Minister of State Tata Steel announced that it had won the bid to purchase 93.71
for Housing and Urban Affairs, Government of India. percent of the stake in the steel manufacturer NINL in Odisha.
The PMAY- Empowering India Awards 2022 seeks to recognize He said, “It took some time since there were many difficulties to be
the sincere efforts and contributions of the Central and State settled between the multiple shareholders of NINL and us,” when
Government Agencies and Private Developers in achieving questioned about the cause of the purchase process’s delay. In
Hon’ble Prime Minister’s dream of “Housing for All by 2022” through addition to a 1 MT steel mill, NINL features an air separation facility
different PPP models and promoting affordable housing that produces oxygen, nitrogen, and argon as well as a captive
Brigade El Dorado is a 50-acre integrated enclave thar offers power plant to fulfill internal power needs.
apartments below 40 lakhs. With the kind of connectivity and Additionally, it has under construction captive iron ore mines of
features that Brigade El Dorado provides access to, it is one of its own. Tata Steel needed to acquire NINL in order to construct a
the most well received projects in Bangalore.” certain long-products complex.

22 CONSTRUCTION OPPORTUNITIES|AUGUST 2022