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China ups the ante, to build steel plant in Gwadar as part of CPEC

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NEW DELHI: China announced its plans to set up a steel factory in Gwadar city as part of the China-Pakistan Economic Corridor (CPEC).

Chinese ambassador to Pakistan Zhao Lijian confirmed the news at a conference organised by an Islamabad based think-tank and attended by top diplomats, academicians and mediapersons.

"The steel factory will be three times bigger than the free economic zone being set up in the Gwadar city, and an agreement in this regard between China and Pakistan will be signed soon," said Zhao, as quoted by Pakistan's Nation.

The China-Pakistan Economic Corridor is a multi-billion dollar undertaking to lay out an overland route which will facilitate trade and communication between the two nations through the construction of highways, railways, and pipelines. A number of infrastructure development projects are being carried out under the umbrella of the CPEC.

At the conference, Zhao went on to say that the steel factory would be instrumental in furthering the region's growth and development as part of the CPEC project.

The Chinese ambassador also discussed some other socio-economic ventures in Gwadar. These include energy projects, a new international airport, a highway and a hospital to resolve Pakistan's crippling power-supply shortfalls, and to establish a nationwide network of logistical infrastructure.

Zhao said that "industrial cooperation was the fourth pillar of the CPEC initiative" and both the countries would discuss it at the next meeting of the Joint Cooperation Committee, which is the principal decision-making body behind the project.

The progress in CPEC, which will link southern Pakistan to western China, is being warily monitored by India as the route passes through the Gilgit-Baltistan region in Pakistan-occupied-Kashmir.

With an investment of $51 billion, the bulk of which has been supplied by China, CPEC is a part of Chinese President Xi Jinping's Silk Road Economic Belt and the 21st Maritime Silk Road projects, that seek to deepen China's economic cooperation with a number of Asian and European countries.

Source: timesofindia.indiatimes.com

NMDC invests Rs 1,222 crore to set up Nagarnar steel plant

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MUMBAI: State-run iron ore miner NMDCBSE 1.57 % has invested Rs 1,222.65 crore till September 2016 to set up a 3 million tonnes per annum (MTPA) integrated steel plant in Nagarnar in Bastar district of Chhattisgarh.

The plant is expected to start trial production by mid-2017.

The company has completed capital expenditure of Rs 1,434.55 crore till September 2016, of which Rs 1,222.65 crore has been invested in Nagarnar steel plant, Rs 17.39 crore on pallet plant at Donimalai, Rs 75 crore in doubling of KK lines, Rs 7.21 crore on Kumarswamy Mine and Rs 4.76 crore in Bailadilla Deposits, the company said in a corporate presentation here.

NMDC has carried out pioneering exploration activity for developing iron ore mines in Karnataka in various regions like Kudremukh, Donimalai, Bababudan, Kumaraswamy and Ramandurg, it added.

NMDC developed the Donimalai mine in this area to export ore to Japan and South Korea.

The company has also committed contribution of Rs 35 crore to JVs and associates and Rs 72.50 crore in other schemes towards addition, modification and replacement of existing assets, it said.

The Bailadila Deposit-4, which has mineable iron ore of around 108 MT, will entail an investment of around Rs 1,900 crore.

The Chhattisgarh government and NMDC have inked an MoU for a slurry pipeline from Bailadila to Nagarnar, along with ore processing plants at Bailadila and a 2-MTPA pellet plant at Nagarnar with an investment of Rs 4,000 crore.

NMDC said that its turnover increased marginally to Rs 3,460 crore in H1 FY17 as compared to Rs 3,409 crore in the same period last year.

The net profit, however, decreased by 19 per cent to Rs 1,482 crore in H1 FY17 from Rs 1,892 crore in the same period last year.

The company said it has successfully completed its share buyback offer of 80,08,25,526 equity shares at Rs 94 for an aggregate consideration of Rs 7,527 crore.

Following the buyback offer, the equity share capital stands reduced to Rs 316.39 crore, it added.

Source: economictimes.indiatimes.com

Govt may take over Reliance power plant

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With the state power utility showing no interest in renewing the power purchase agreement with the BSES Kochi Pvt Ltd (BKPL), there are chances that the government might take over the thermal power plant set up by Reliance Infrastructure.

Top sources in BKPL revealed that Reliance would not reject any proposal from the government on the takeover of the Naphtha-based 165 MW thermal power plant commissioned in 2001. "The company still wish for the renewal of the power purchase agreement between KSEB and BSES. But, the board and the government are not interested in the same. We don't wish to relocate the plant to anywhere else. Neither the BSES nor the government has so far initiated any formal talks regarding the takeover. But we have given enough hints and it seems the political leadership is more interested in taking over the plant than extending the power purchase agreement," they said.

Senior officials in power department too confirm that the plant's takeover was suggested by the board in 2015, but no policy decision was taken by the then UDF government. The 15-year power purchase agreement with BSES had come to a close on October 2015.

Though the UDF government gave in principal approval for the extension of the power purchase pact, the unions argued against the deal by saying that the board had given Rs 1,490 crore to BKPL as fixed cost from 2001 to 2015.

"The government may think about the takeover on the ground that the state needs a good mix of power generating units to ensure minimum sustainability. Also, it would not be wise to close down a plant that can be converted into a gas-based one. Such issues are to be addressed before jumping into conclusions," government sources said.

Source: timesofindia.indiatimes.com

Ratan Tata hailed as saviour of UK steel industry

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LONDON: Tata Sons interim chairman Ratan Tata was today hailed as the saviour of the UK steel industry after the Tata Group announced a 10-year commitment of one billion pounds investement to save thousands of jobs for its embattled steelworks in the country last week.

In a special feature titled 'Man of Steel', the Sunday Times attributes the thousands of jobs saved in the industry largely to the sacking of Cyrus Mistry and Ratan Tata stepping in as interim chairman.

"Last week's abrupt change of heart owes much to a terse board meeting in Mumbai on October 24. At that meeting the board of Tata Sons, the parent company that sits astride an empire spanning steel to tea, sacked its chairman Cyrus Mistry and reinstated his predecessor Ratan Tata," the report said.

Describing Ratan Tata as the "architect" of the 6.1-billion-pound acquisition of Corus in 2007, it quotes insiders as saying that the 78-year-old tycoon was never comfortable with the idea of abandoning Tata SteelBSE -0.37 %'s Welsh plant at Port Talbot - the UK's largest steelworks.

"Now he is back at the helm, Port Talbot has won a reprieve," it notes.

Tata is said to have been painfully aware that the closure of Port Talbot would devastate the town already marred by poverty.

"As the head of the (Tata company) charity, Ratan is not like that. You don't want to get rid of vast chunks of people and create mass unemployment. Ratan was quite upset at the way he (Mistry) was dealing with Tata Steel. There were all these whispers that he (Ratan) did the wrong thing in buying Corus," the newspaper quotes an insider as saying.

Nearly 11,000 British workers at Tata Steel have been rejoicing after the company has indicated that it would not take any dividends from its British plants until their profit tops 200 million pounds a year.

The company made the pledge last week as part of a plan that will keep the Port Talbot site in south Wales open until at least 2021. It promised no job cuts for five years and to pump 1 billion pounds into its UK plants over 10 years.

Tata said in a statement, "The immediate target of 200 million pounds provides sufficient funds to invest in the business and to manage working capital needs. However, beyond this level the business will balance the needs of all its stakeholders, including the financing of dividends".

In return, workers must accept the closure of the British Steel Pension Scheme to future accruals.

Roy Rickhuss, secretary general of the steel union community, said, "Since March, the way people have been treated has been very hard. No one knew if they would have a job by Christmas. But we have to recognise that prior to March, Tata had invested significantly in the UK".

"This proposal would secure jobs for years to come and bring serious investment, not just to Port Talbot but steelworks across the UK," he said.

Meanwhile, the Brexit referendum in June has changed economics for Tata Steel.

Britain's vote to leave the EU, and the accompanying crash in sterling, have transformed the competitiveness of its UK operation. About 40 per cent of the output from British plants is exported.

Thanks to the cheaper pound, a business that was losing a million pounds a day just a few months ago is now back in the black.

Source: economictimes.indiatimes.com

JSW Energy in talks to buy out Monnet Power’s Odisha plant

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JSW Energy, part of the Sajjan Jindal promoted JSW Group, is believed to have initiated talks for a possible acquisition of Monnet Power’s 1050 Mw (2x525) coal fired plant in Odisha at Angul, close to the site of another Jindal Group company- Jindal Steel & Power Ltd’s (JSPL) steel making facility.

“JSW Energy is looking at some unfinished power projects in Odisha. The company is eyeing Monnet Power’s asset for which talks have taken off”, said a source in the know of the development.

He said, valuation of the done was yet to be done as talks were still preliminary.

Monnet Power’s coal-based plant was in advanced stage of commissioning. Monnet Power’s parent company- Monnet Ispat & Energy Ltd had won the Mandakini coal block in Odisha in competitive bidding, it surrendered the block later on grounds of economic unviability.

JSW Energy is increasingly betting on the inorganic route to augment its power capacity. In the past one year alone, the company is understood to have evaluated more than 30 proposals in its race for power assets acquisition.

Both JSW Energy and Monnet Power refused to comment on the prospective deal. An e-mail questionnaire sent to both remained unanswered.

At a recent earnings conference call Pramod Menon, director (finance) at JSW Energy said, the September quarter was not so encouraging for the company. “Compared on a year-on-year basis at plant levels, the generation was lower by about 17 per cent in Ratnagiri. At Vijayanagar, we have seen a sharp dip of about 63 per cent and in Barmer, a dip of about 8 per cent. The generation has been impacted at Barmer primarily on account of back down of the units, but at Vijayanagar, where we have seen a very sharp reduction, is primarily on account of our inability to get the schedule for the entire power plant. Wherever we have participated in bids, those processes are still continuing and have not got translated into firm offers”, Menon said during the conference call.

In September 2015, JSW Energy bought two hydro power projects—Baspa II and Karcham Wangtoo—from Jaiprakash Power Ventures Ltd for Rs 9,275 crore—lower than the originally agreed value of Rs9,700 crore. It also acquired the Bina thermal plant from Jaiprakash Power at an enterprise value of Rs 2,700 crore though it took Rs 3500 crore to build the power plant.

In May 2016, JSW Energy agreed to buy out a 1000 Mw power plant owned by JSPL in Chhattisgarh for Rs 4000 crore.

With a combined power capacity of around 4500 Mw, JSW Energy is today among the top four power producers in the country in the power sector alongside the likes of Adani Power, Vedanta and Tata Power.

Tata Steel to invest 1 billion pounds in UK plant, replace British Pension Scheme

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MUMBAI: Under the chairmanship of Ratan Tata, steelmaker Tata SteelBSE 4.39 % has reached a deal with the agitating trade unions of Tata Steel UK plant to invest 1 billion pounds in the loss making Port Talbot steel plant over the next 10 years, and also to avoid any compulsory job redundancies.

Tata Steel also started a process to close the expensive British Pension Scheme replace it by defined contribution scheme, which will lower uncertainty in payouts. The new scheme will have a maximum contributions of 10% from the company and 6% from employees, the unions said in a statement.

The unions added that according to the deal, apart from the comprehensive ten year 1 billion pound investment plan to support steel making at Port Talbot, Tata Steel will also secure the future of the downstream sites. Tata Steel said the Port Talbot plant will continue the existing blast furnace configuration in Port Talbot until 2021. Future investments will continue based on financial performance in the next 5 years.

Tata Steel's new strategy to continue to invest in UK is in sharp contrast to former Chairman Cyrus Mistry's strategy to either exit or merge UK steelmaking operation without any commitment on jobs. The company did not give any clarity on the ongoing discussion to merge with Thyssenkrupp.

“Tata Steel UK has developed a long-term investment plan to make the business more competitive in the future," said Koushik Chatterjee, Group Executive Director at Tata Steel and Executive Director for its European business.

"These significant commitments on production, jobs and investment are welcome. However to close the British Steel Pension Scheme (BSPS) is of concern. After a detailed discussion, union reps have agreed to ballot all members on the proposal in the new year," said steel union Community in a statement.

Chatterjee added that the implementation of the transformation plan in the next couple of years, combined with a solution for the British Steel Pension Scheme fund, is essential to provide financial self-sufficiency for future investments and service financial obligation to stakeholders.

Tata Steel's UK operations have been saddled with a huge pension liability of 15 billion pounds for its 1.4 lakh employees including current and retired employees.

Tata Steel said it also offered an employment pact until 2021 which supports employees through future changes by investing in their skills to support further plant upgrades, automation and other digital initiatives.

Source: economictimes.indiatimes.com

NMDC’S LOAD TRIALS OF 3 MTPA STEEL PLANT LIKELY BY DEC’17

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NMDC Ltd is expected to carry out load trials of its upcoming 3 MTPA Steel Plant at Nagarnar in Bastar region of Chhattisgarh by December 2017, official sources informed.

Notably, NMDC’s Chhattisgarh based mines accounted for bulk of iron ore sales at 13.98 million tones as on November 2016.

It may also be recalled that the Cabinet Committee on Economic Affairs (CCEA) has accorded ‘in-principle’ permission to NMDC Ltd for considering ‘strategic disinvestment’ of its 3 MTPA Steel plant coming up at Nagarnar in Bastar region of Chhattisgarh, the company informed BSE on Friday last.

Moreover, NMDC will also soon start constructing 1008 housing units in the phase-I part of the project for its staff at its upcoming permanent township at Dhanpunji near Nagarnar in Bastar district, officials informed.

The company has also commenced the process for setting up the 2 MTPA ‘iron ore processing plant’ at Bacheli in Bastar region of Chhattisgarh, officials informed.

It may also be recalled that NMDC has proposed to use its mine lease area at Deposit number 4 located at Bailadila range of hills at Bhansi near Bacheli in South Bastar’s Dantewada district in Chhattisgarh for meeting the raw material requirement 'exclusively' for its upcoming 3 MTPA Integrated Steel Plant at Nagarnar, officials informed.

The remaining iron ore quantity after meeting the requirement of integrated steel plant at Nagarnar from Deposit 4 will be sold to domestic customers in Chhattisgarh, they informed.

The Deposit - 4 iron ore mine will be developed as a 'standalone project' with an estimated investment of Rs 1899.74 crores.

In addition to the mining lease area, 95.13 hectares forest land is identified for development of infrastructure such as downhill conveyor, screening plant, loading plant and approach road etc.

Further, 50 hectares of non-forest land is also required for installation of railway stock yard, administrative building, loading plant (part), tailing dam, STP and township etc.

The existing iron ore production from other Bailadila mines is catering to requirements of large steel plants and also to local sponge iron / pellet plants in Chhattisgarh.

Mining plan along with progressive mine closure plan has been approved by Indian Bureau of Mines (IBM), for production capacity of 7.0 MTPA vide their letter no: No 314(3)/2012-MCCM (CZ)/MP-19 dated July 26, 2013, officials informed.

NMDC is operating iron ore mines at Bailadila Complex in South Bastar Dantewada District Chhattisgarh and is having long terms commitment for supply of iron ore to major steel plants across the country.

Hence, J.V. Company between NMDC and Chhattisgarh Mineral Development Corporation (CMDC) i.e NMDC-CMDC (NCL) was formed for development of a new deposit in the already prospected areas i.e Bailadila Deposit-4 with a production capacity of 7 MTPA for meeting the iron ore requirement of Steel plant of NMDC at Nagarnar, near Jagdalpur.

It may be also be recalled that NMDC Ltd is going for a complete Energy Audit for Bailadila Iron Ore Mine at Deposit 14 and 11C at Kirandul complex and Deposit 5, 10 and 11A at Bacheli Complex in Bastar region of Chhattisgarh.

The company is also planning to construct a 'rapid iron ore loading system' with a capacity of 14 million tonnes per annum (MTPA) at its Kirandul complex in Bastar , officials informed.

Signalling work for the private railway siding coming up at NMDC Ltd’s 3 MTPA Nagarnar Steel Plant near Jagdalpur will commence soon, officials informed.

Notably, NMDC is also developing full-fledged Railway transportation infrastructure, the work for which had been going on at full swing at Nagarnar.

The company is also planning to construct a 'rapid iron ore loading system' with a capacity of 14 MTPA at its Kirandul complex in Bastar , officials informed.

The project also comprises construction of a ‘Merry Go Round’ (MGR) railway track.

The project for doubling of Railway line between Kirandul and Jagdalpur in Chhatisgarh’s insurgency ridden Bastar region is also expected to be complete by January 2019, officials informed.

Notably, NMDC had also signed a Memorandum of Understanding (MoU) with the Union Ministry of Railways on December 21, 2012 and the aforesaid project would be helpful in significantly augmenting evacuation capacity of NMDC’s Bailadila Sector mines by rail from the existing 28 MTPA to 40 MTPA of iron ore.NMDC had deposited an amount of Rs 150 crores with East Coast Railway and the expenditure incurred as on March 31, 2015 was Rs 132.00 crore, official sources informed.

For execution of the project, the Railways has divided the 150 km length of doubling work into three Sections namely, Jagdalpur to Silakjori 45.50 km, Kirandul to Gidam 52.23 km and Silakjori to Gidam 52.73 km.

Notably, the Rs 2000 crore Rowghat to Jagdalpur railway line would also pass through heavily insurgency infested Kondagaon and Narayanpur districts of Bastar division in Chhattisgarh, officials stated.

The project is a joint venture between Chhattisgarh government, NMDC, SAIL and IRCON.

NMDC produced 3.29 million tonnes (MT) of iron ore and registered sales volume of 3.31 MT upto May 2016, officials informed.

Quite recently, NMDC incorporated a subsidiary company by the name of "NMDC-SAIL Limited" in order to develop, sell and supply iron ore from the allocated mining resources in the State of Chhattisgarh.

Moreover, the completion of Dallirajhara-Rowghat-Jagdalpur, East and East-West Rail corridor projects will comprise a total of 535 kilometers Railway-line during the next two to four years.

The East West Rail Corridor project is expected to get completed in 2018-19.

Source: dailypioneer.com

UK largest steel plant deal edging closer

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Union leaders will put a new rescue plan into the UK's largest steel plant in return for concessions on staff terms.

London: Tata Steel is edging closer to a deal with UK steel workers' unions to keep its troubled Port Talbot plant, the country's largest in south Wales, open until at least 2020, a media report said today.

Union leaders will put a new rescue plan to its members this week, which could see investments into the UK's largest steel plant in return for concessions on staff terms and conditions, according to 'The Sunday Times'.

Central to the plan is retention of Port Talbot’s two blast furnaces, which turn iron ore and coke into molten iron. One is due to stop production in 2018 but unions have been fighting to keep it open.

If an agreement is reached with staff, the Indian steel giant will look into partial relining of the blast furnace as an upgrade that would extend its life by several years.

The newspaper quoted sources as saying that union officials had held talks with Tata Steel bosses, including executive director Koushik Chatterjee, on the latest plan last Thursday.

They worked on a deal that would also see money injected into Tata Steel's other plants around the country, including Shotton, Corby and Llanwern.

The company has demanded curbs on the steel workers Final salary pension scheme in return for saving UK steel jobs and providing some security for the future of steel production in the UK.

"We are seeking a positive future for the UK business and during discussions with the trade unions we made substantial future assurances to achieve this," a Tata Steel statement said.

Source: asianage.com

Tata Steel to Further Expand Kalinganagar Steel Plant in Odisha

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Once the two phases of the Kalinganagar project are fully operational, Tata Steel’s current capacity will increase from 10 mt to 16 mt.

Tata Steel Ltd has invested more than Rs.25,000 crore in its greenfield steel project in Kalinganagar in Odisha and has plans for further expansion, according to T.V. Narendran, managing director of Tata Steel India and South East Asia. Despite financial troubles at its European operations, Indian operations have got all the funds that it has asked for from the Tata Steel board, Narendran said.

Tata Steel conceived this plant in 2005-2006 but work was delayed owing to land acquisition problems and could start only in 2010. The delay increased the project cost that now stands at Rs.25,000 crore in the first phase. The first phase of the project of 3 million tonnes (mt) was commissioned in 2016. Once the two phases of this project are fully operational, Tata Steel’s current capacity will increase from 10 mt to 16 mt.

“Even as recently as four years ago, there was nothing much in Kalinganagar. Today it is buzzing with activity and this is just the beginning. The operation has the potential to become, in a decade, bigger than the Jamshedpur plant. Kalinganagar is one of the biggest Make in India stories,” Narendran said.

In an interview to Tata.com, Narendran said Kalinganagar was a huge challenge for Tata Steel, but he did not disclose about further expansion or the amount envisaged for the expansion.

“To be fair to Tata Steel Board, the Indian operation has got all the funds that it has asked for. Last year was a difficult one for Tata Steel India as our Ebitda (earnings before interest, taxes, depreciation and amortisation) was 19%. This compares well with leading companies not only in our industry but in other industry sectors as well,” Narendran said.

He admitted that South East Asia was hurt badly following the crisis in China and the firm’s operations in NatSteel (of Singapore) and Tata Steel Thailand were also affected owing to the same.

“But NatSteel has emerged from the experience a leaner and more agile organisation, and so has Tata Steel Thailand,” Narendran said.

He said Kalinganagar was a great case study for Tata Steel as before the company started work there, it assumed that just because it’s from the Tata group, everybody would welcome them.

“Those villagers in and around Kalinganagar did not know of the legacy and history of the Tatas. Many of them got misled and were susceptible to being exploited. A key learning from Kalinganagar is that if we want to develop a greenfield site, we have to first build equity and a relationship with the local community. Also, it’s not just about creating jobs but about encouraging job creators,” Narendran said.

“You have to help local youth become entrepreneurs as well because a single steel plant cannot meet all the job aspirations of the local community,” he added.

Narendran’s comments come at a time when Tata Steel has entered into talks with companies including Germany’s Thyssenkrupp AG on a possible joint venture in Europe, after reviewing bids on the UK assets that the Indian steel maker had planned to sell.

Source: LIvemint

Nirma to buy Lafarge India assets from LafargeHolcim for $1.4 billion

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Nirma Ltd. has agreed to acquire Lafarge India’s cement assets for about $1.4 billion (Rs.9,400 crore), outbidding Sajjan Jindal-led JSW Cement and Piramal Enterprises, as Indian companies vie to add capacity for the building material to tap growing demand from the infrastructure sector.

LafargeHolcim, the Swiss building materials behemoth created out of the 2015 Lafarge-Holcim merger, will sell its Lafarge India business including three plants and two grinding units with a total capacity of about 11 million tonnes per annum (MTPA) to Nirma, subject to approval by the Competition Commission of India (CCI), the Zurich-based company said in a statement.

Nirma, the Ahmedabad-based detergents and chemicals maker, currently operates a 2 MTPA cement unit. The additional capacity will help it benefit from an expected surge in infrastructure construction as India aims to boost spending on the key sector to about 8.1 per cent of GDP by 2021-22, according to an IMF Working Paper. Nirma, which will fund the acquisition through an equal mix of equity and debt, expects the acquisition to be “transformational” for its cement business, Managing Director Hiren Patel said.

“With a strong platform like Lafarge’s India business, we plan to take the cement business to the next level,” Mr. Patel said. LafargeHolcim will use the divestment proceeds to pare debt, it said. The agreement, part of the cement major’s 3.5 billion Swiss franc divestment plan, is a key requirement for the company to win approval from India’s competition regulator for the worldwide merger announced last year. “We are confident that we will meet our target by the end of this year,” said Eric Olsen, CEO, LafargeHolcim. “With the proposed buyer we have found the right partner who will be able to develop the business further in the interest of all our stakeholders,” Mr. Olsen said.

Also read: Five Companies Shortlisted for Lafarge's 11 Million Tonne Cement Plants

LafargeHolcim will continue to operate in India through ACC Ltd. and Ambuja Cements Ltd. with a combined capacity of more than 60 million tonnes and a nationwide distribution network, making it the second-largest cement player in the country. Kumar Mangalam Birla-led UltraTech Cement is the market leader.

Source: The Hindu

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In connection with any of the foregoing, web site may suspend or terminate the Account of any User as web site deems appropriate in its sole discretion. User(s) agree that web site shall have no liability to any User(s), including no liability for consequential or any other damages, in the event web site takes any of the actions mentioned in this Section, and that you agree to bear the risk that web site may take such actions.

Web site acts as a content integrator and is not responsible for the information provided by user(s) to be displayed on the web site. The Site do not have any role in developing the content.

The Site provides an on-line platform for exchanging information between buyers and suppliers of Plant, Machinery & Equipments. Web site does not represent the seller or the buyer in specific transactions and does not charge any commission for enabling any transaction. Web site does not control and is not liable to or responsible for the quality, safety, lawfulness or availability of the products or services offered for sale on the web site or the ability of the suppliers to complete a sale or the ability of buyers to complete a purchase. User(s) are cautioned that there may be risks of dealing with foreign nationals or people acting under false pretenses. Web site uses several techniques (such as Plant Bee Verified) to verify the accuracy and authenticity of the information our user(s) provide us. However, since it is not possible in all cases and is not 100% fool-proof, the Site cannot and does not confirm each user(s) purported identity (including, without limitation Plant Bee Verified members). Plant Bee encourages user(s) to use various tools available on the web site and otherwise, as well as common sense, to evaluate the user(s) with whom they would like to deal with.

User(s) acknowledge that user(s) fully assume the risks of purchase and sale transactions when using the web site to conduct transactions, and that user(s) fully assume the risks of liability or harm of any kind in connection with subsequent activity of any kind relating to products or services that are the subject of transactions using the web site.

Such risks shall include, but are not limited to, mis-representation of products and services, fraudulent schemes, unsatisfactory quality, failure to meet specifications, defective or dangerous products, unlawful products, delay or default in delivery or payment, cost mis-calculations, breach of warranty, breach of contract and transportation accidents. Such risks also include the risks that the manufacture, importation, distribution, offer, display, purchase, sale and/or use of products or services offered or displayed on the web site may violate or may be asserted to violate Third Party Rights, and the risk that you may incur costs of defense or other costs in connection with third parties' assertion of Third Party Rights, or in connection with any claims by any party that they are entitled to defense or indemnification in relation to assertions of rights, demands or claims by Third Party Rights claimants. Such risks also include the risks that consumers, other purchasers, end-users of products or others claiming to have suffered injuries or harms relating to product originally obtained by user(s) of the web site as a result of purchase and sale transactions in connection with using the web site may suffer harms and/or assert claims arising from their use of such products. All of the foregoing risks are hereafter referred to as "Transaction Risks".

User(s) agree that Plant Bee shall not be liable or responsible for any damages, liabilities, costs, harms, inconveniences, business disruptions or expenditures of any kind that may occur/arise as a result of or in connection with any Transaction Risks. User(s) are solely responsible for all of the terms and conditions of the transactions conducted on, through or as a result of use of the web site, including, without limitation, terms regarding payment, returns, warranties, shipping, insurance, fees, taxes, title, licenses, fines, permits, handling, transportation and storage. In the event of a dispute with any party to a transaction, user(s) agrees to release and indemnify the Site (and our agents, affiliates, directors, officers, employees and associated sites and mini sites) from all claims, demands, actions, proceedings, costs, expenses and damages (including without limitation any actual, special, incidental or consequential damages) arising out of or in connection with such transaction. User(s) may use the content/features on web site solely for their personal or internal purposes. User(s) agree that they will not use Plant Bee database and/or services to send junk mail, chain letters or spamming or the transmission of any unlawful, harassing, libelous, abusive, threatening, harmful, vulgar, obscene or otherwise objectionable material of any kind or nature. Further, as a Registered User, user(s) will not use the Email Account to publish, distribute, transmit or circulate any unsolicited advertising or promotional information or any content that is obscene, indecent, seditious, offensive, defamatory, threatening, or which incites or results in causing racial hatred, discrimination, menace or breach of confidence.

The site reserves the right to add/modify/discontinue any of the features offered with a service.

AMENDMENT TO USER(S) AGREEMENT

Plant Bee may change, modify, amend, or update this agreement from time to time without any prior notification to user(s) and the amended and restated terms and conditions of use shall be effective immediately on posting. If you do not adhere to the changes, you must stop using the service. Your continuous use of the service will signify your acceptance of the changed terms.

COPYRIGHT

All content on this web site is the copyright of Plant Bee except the third party content and link to third party web site on our website.

Plant Bee is not an expert in your intellectual property rights, and we cannot verify that the users of our online marketplace - who post various trade leads on the website - have the right to sell the goods offered. We will appreciate your assistance in identifying listings which may not appear on their face to infringe your rights but which you believe are infringing. Plant Bee is also not an arbiter or judge of disputes about intellectual property rights. By taking down a listing, as a prudential matter, Plant Bee is not endorsing a claim of infringement. Neither, in those instances in which Plant Bee declines to take down a listing, is Plant Bee determining that the listing is not infringing, nor is Plant Bee endorsing the sale of goods in such cases.

Plant Bee respects the intellectual property rights of others, and we expect our user(s) to do the same. Plant Bee believes that user(s) agree that they will not copy, download & reproduce any information, text, images, video clips, directories, files, databases or listings available on or through the web site (the "Plant Bee content") for the purpose of re-selling or re-distributing, mass mailing (via email, wireless text messages, physical mail or otherwise), operating a business competing with Plant Bee, or otherwise commercially exploiting the Plant Bee content. Systematic retrieval of Plant Bee content to create or compile, directly or indirectly, a collection, compilation, database or directory (whether through robots, spiders, automatic devices or manual processes) without written permission from Plant Bee is prohibited.

In addition, use of the content for any purpose not expressly permitted in this Agreement is prohibited and may invite legal action. As a condition of your access to and use of Plant Bee's services, you agree that you will not use the web site service to infringe the intellectual property rights of others in any way. Plant Bee reserves the right to terminate the account of a user(s) upon any infringement of the rights of others in conjunction with use of the Plant Bee service, or if Plant Bee believes that user(s) conduct is harmful to the interests of Plant Bee, its affiliates, or other users, or for any other reason in Plant Bee's sole discretion, with or without cause.

INTELLECTUAL PROPERTY RIGHTS

Plant Bee is the sole owner or lawful licensee of all the rights to the web site and its content. Web site content means its design, layout, text, images, graphics, sound, video etc. The web site content embody trade secrets and intellectual property rights protected under worldwide copyright and other laws. All title, ownership and intellectual property rights in the web site and its content shall remain with PlantBee.com, its affiliates or licensor's of PlantBee.com content, as the case may be.

All rights not otherwise claimed under this agreement or by PlantBee.com, are hereby reserved. The information contained in this web site is intended, solely to provide general information for the personal use of the reader, who accepts full responsibility for its use. Plant Bee does not represent or endorse the accuracy or reliability of any information, or advertisements (collectively, the "content") contained on, distributed through, or linked, downloaded or accessed from any of the services contained on this web site, or the quality of any products, information or other materials displayed, or obtained by you as a result of an advertisement or any other information or offer in or in connection with the service.

TERMINATION

Most content and some of the features on the web site are made available to visitors free of charge. However, the Site reserves the right to terminate access to certain areas or features of the web site (to paying or registered users) at any time for any reason, with or without notice. The site also reserves the universal right to deny access to particular users to any/all of its services/content without any prior notice/explanation in order to protect the interests of the Site and/or other visitors to the web site. The Site reserves the right to limit, deny or create different access to the web site and its features with respect to different user(s), or to change any of the features or introduce new features without prior notice.

All rights reserved.

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