Beni Prasad Verma

Steel Authority of India (SAIL) has incurred Rs 42,101 crore expenditure till July out of its proposed Rs 61,870 crore investment for capacity expansion during the current phase of expansion.

India keen to acquire coal, iron ore mines in Canada

"Although India has rich reserves of iron ore, it is opportune time for Indian steel industry to acquire more iron ore mines to meet the requirement of next generation, the country being populous," Steel Minister Beni Prasad Verma, who is leading a high-level delegation to Canada, said.

Beni continues verbal attack on Mulayam

The war of words between Union Steel Minister Beni Prasad Verma and the Samajwadi Party does not seem to be ending. Even as the Congress distanced itself from Beni Prasad's remarks, he continued to fire salvos at SP and its supremo Mulayam Singh Yadav.

Global mkts stable; Nifty may see temporary pullback

Our market fell quite a lot over the last two sessions. So, the hope is that even though it might be temporary, we will get a pullback now in the make because it looks quite oversold after the price performance in the last 48 hours, said CNBC-TV18's managing eidtor, Udayan Mukherjee.

SAIL's expansion may be completed by FY14: Steel Min

The Rs 61,870 crore modernisation and expansion programme of Steel Authority of India is likely to be completed next fiscal, Steel Minister Beni Prasad Verma said today.

SteelMin asks SAIL to take steps to improve profitability

Steel Minister Beni Prasad Verma today asked SAIL to initiate steps to improve profitability and complete the modernisation at the earliest.

Tata Steel's new Coke Oven Battery commissioned

Union Steel Minister Beni Prasad Verma today commissioned Tata Steel's new Coke Oven Battery no.10 and By-Product Plant at its Jamshedpur facility.

Steel Min asks MOIL to raise production

Steel Minister Beni Prasad Verma today directed state-run manganese ore producer MOIL to raise production to meet the increasing requirement of the steel industry.

'High inflation good for farmers, UPA favours it'

The one thing that the UPA could do without presently is yet another new scam, controversy or scandal. However, its ministers are unwilling to let it even breathe.

Cabinet may mull SAIL sell-off, sugarcane price tomorrow

The Cabinet is likely to consider tomorrow several key economic proposals including SAIL disinvestment, levy of import duty on power equipment and revision of central support price for sugarcane.

CCEA likely to take up SAIL disinvestment proposal tomorrow

The Cabinet Committee on Economic Affairs is likely to consider tomorrow a proposal for disinvesting government's 10.82% stake in Steel Authority of India official sources said.

SAIL, Kobe to sign final pact for Rs 1,500 cr plant

Steel Authority of India will sign the final pact with Japan's Kobe Steel next week for a joint venture which will set up a facility to produce iron nuggets at an investment of Rs 1,500 crore.

UP Polls: Mayawati dissolves House, what will UP Guv do?

In a seemingly well-calculated move, Uttar Pradesh Chief Minister Mayawati on Sunday recommended dissolution of the state Assembly. The BSP chief presided over what could be the last Cabinet meeting on Sunday night and got the order passed by the Cabinet seeking the dissolution of the House, a decision taken just two days before counting.

SAIL-Posco JV pact likely to be signed next month: Verma

Steel Minister Beni Prasad Verma today said the joint venture agreement between SAIL and Posco for setting up a 3-million-tonne steel unit at Bokaro in Jharkhand is likely to be signed next month.

SAIL to sign steel plant pact with POSCO in Nov

State-run Steel Authority of India Ltd is likely to sign a joint venture agreement with South Korean steel major POSCO for setting up a factory in Bokaro, Steel Minister Beni Prasad Verma said on Wednesday.

SAIL seeks 5 mscmd gas for Jagdishpur power plant

State-owned steel major SAIL has sought gas allocation of 5 million standard cubic metres per day (MSCMD) for its proposed 1,050 MW independent power plant at Jagdishpur, near Amethi in Uttar Pradesh.

Iron ore scarcity: Beni demands urgent hike in export duty

Concerned over severe shortage of iron ore after the ban on mining in Karnataka, Steel Minister Beni Prasad Verma today said the Finance Ministry should immediately increase the export duty on the raw material to 30%.

India to become 2nd largest steel producer by 2015

India is expected to become the world's second largest producer of crude steel by 2015, riding on expansion plans of domestic players like SAIL and Rashtriya Ispat Nigam (RINL), the government said today.

SAIL's expansion drive expected to be done by 2012-2013

State-run SAIL's massive expansion drive to increase its steel production capacity to 21.40 million tonne per annum (MTPA) at an investment of Rs 61,870 crore is expected to be completed by 2012-2013, Parliament was informed today.

India finished steel imports at Rs 26387cr in 2010-11

India's imported finished steel products worth Rs 26,387 crore in 2010-11, a 3% rise in comparison to 2009-10, Parliament was informed today.

In-principle nod from SAIL board for 10 new units: Verma

The board of Steel Authority of India Limited (SAIL) has accorded in-principle approval for setting up 10 steel processing units in different states across the country, Parliament was informed today.

India to be 2nd largest steel producer by 2013: Steel Min

Steel Minister Beni Prasad Verma today exuded confidence that India will become the world's second largest producer of the alloy by 2013, with an installed annual production capacity of 120 MT.

SAIL FPO likely to hit the markets around Diwali: Steel Min

The much-delayed share sale of state-run SAIL, expected to mop up Rs 6,000 crore at current market price, will take another three months and may take place around Diwali, Steel Minister Beni Prasad Verma said.

Performance to be the key in Cabinet rejig

Prime Minister Manmohan Singh will reshuffle his Cabinet at around 5 PM on Wednesday. Sources say that the Prime Minister is keen on inducting some young faces at the cost of political heavyweights but no one is likely to be dropped from the Cabinet.