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Billionaire <keyword id="19916798" type="General" weightage="20" keywordseo="mukesh-ambani" source="keywords">Mukesh Ambani</keyword> on Wednesday said his company <keyword id="19936674" type="General" weightage="20" keywordseo="reliance" source="keywords">Reliance</keyword> will set up India's first and world-class carbon fibre facility at <keyword id="20065225" type="General" weightage="20" keywordseo="hazira" source="keywords">Hazira</keyword>. Speaking at the Vibrant <keyword id="19906863" type="General" weightage="20" keywordseo="gujarat" source="keywords">Gujarat</keyword> Summit here, Ambani said Reliance was, is, and will always remain a Gujarati company. "Reliance has invested over USD 150 billion (12 lakh crore) in creating world-class assets and capacities across India in last just 10 years. Of this, more than one third has been invested in Gujarat alone," he said. He said Reliance will contribute to making Gujarat a global leader in green growth. "We will help Gujarat's target to meet half of its energy needs through renewables by 2030." Reliance started building the Dhirubhai Ambani Green Energy Giga Complex over 5,000 acres in Jamnagar. This will generate a large number of green jobs and enable production of green products and materials that will make Gujarat the leading exporter of such goods and the company is ready to roll this out in the second half of 2024 itself, he said. Reliance Jio completed the fastest roll-out of 5G infrastructure anywhere in the world. For India's bid for 2036 Olympics, Reliance and Reliance Foundation will join forces with several other partners in Gujarat to improve the education, sports and skills infrastructure that will nurture the champions of tomorrow in various Olympics sports, he said. "No power on earth can stop India from becoming a 35 trillion-dollar economy by 2047. And I see Gujarat alone will become a 3-trillion dollar economy by then," he added.

Reliance to set up carbon fibre facility in Gujarat as Ambani promises 'green growth'

New Delhi, Mar 3 () ArcelorMittal Nippon Steel India on Tuesday said it has completed the acquisition of 500 Mega Watt (MW) Bhander power plant in Hazira, Gujarat.Bhander plant, which was commissioned in 2006 and commenced commercial operations in 2008, was purchased by AM/NS India under the Securitisation and Reconstruction of Financial Assets and Enforcement of Securities Interest (SARFAESI) Act, the company said in a statement.It has acquired Bhander Power Plant from Edelweiss Asset Reconstruction Company."ArcelorMittal Nippon Steel India (AM/NS India) today announced that it has completed the acquisition of Bhander Power Plant in Hazira. Bhander, a natural gas-based thermal plant with an installed capacity of 500 MW, will remain captive to AM/NS India's steel manufacturing operations at Hazira," it said. ArcelorMittal Nippon Steel India (AM/NS India) is a 60:40 joint venture between L N Mittal-owned ArcelorMittal and Japan-based Nippon Steel Corporation. "We are pleased to have acquired these important ancillary assets for our steelmaking facilities. This is in line with an intent to secure a robust captive power and commodity supply chain as we continue to make strong strides in our production and operational performance."Efforts to become increasingly self-reliant, in this case through the procurement of a key energy source in Gujarat and an iron ore rich reserve in Odisha, form part of AM/NS India's medium to long term strategy to significantly grow our production capacity in India," its CEO Dilip Oommen said.Earlier this month, ArcelorMittal India Private Limited (AMIPL) -- which holds majority share in the JV firm AMNS -- was selected preferred bidder for Thakurani iron ore mine license in Odisha following an auction process facilitated by the state government.The block in the district of Keonjhar, with estimated reserves of 179.26 million tonnes, is expected to make a valuable contribution to AM/NS India's long-term raw material requirements.On conclusion of the license award process, AMIPL will proceed to seek requisite clearances, as well as mine development and production agreements, ahead of commencing mining operations. ABI BAL

ArcelorMittal Nippon Steel completes acquisition of Bhander power plant in Hazira

New Delhi, Nov 15 () Essar Ports on Friday said it has completed work on a passenger ferry terminal at Hazira, paving the way for cruise-based service between Surat and Mumbai.
 The terminal has been built in record eight months' time, it added.
 "Essar Bulk Terminal Ltd (EBTL), a part of Essar Ports...has completed work on the Passenger Ferry Terminal that has paved the way for a cruise-based passenger ferry service, commencing today, between Hazira Port in Surat and Bandra-Worli Sea Link in Mumbai. The Hazira-based terminal will also lead to ferry services being offered on other routes in the future," Essar Ports said in a statement.
 Phase I of the terminal project will focus on the movement of passengers between Hazira in Surat and Mumbai. The company said it plans to extend the service to other coastal locations in Gujarat.
 "The ferry service will be a huge boost to tourism in Gujarat. We look forward to contributing to similar projects that will help unleash the tremendous potential of coastal transport in India by using the country's extensive network of inland waterways," said Rajiv Agarwal, MD and CEO, Essar Ports.
 The company said the Gujarat Maritime Board (GMB) had given its permission to EBTL to develop and operate a passenger ferry terminal at Hazira, where the company also operates a 50 MTPA (million tonnes per annum) dry bulk cargo terminal.
 "We are proud to have commissioned the project in record time to pave the way for the launch of this revolutionary ferry service," said Subhas Das, CEO, EBTL.
 Essar Ports is a private sector port and terminal developer and operator. NAM ABM

Essar Ports completes work on passenger ferry terminal at Hazira

AdPorts and Special Economic Zone on Thursday reported that its Profit After Tax or net profits during the just-concluded financial year 2023-24 grew by a whopping 50 per cent to Rs 8,104 crore. In 2022-23, they were at Rs 5,391 crore. During the fourth quarter January-March, the net profits grew 77 per cent to Rs 2,015 crore. Coming to the revenue from operations for the entire financial year and the fourth quarter, they grew 28 per cent and 19 per cent to Rs 26,711 crore and Rs 6,897 crore, respectively. 2023-24 has been a year of many new milestones for <keyword id="20038598" type="General" weightage="20" keywordseo="APSEZ" source="keywords" meta.keywordsubtype="org" meta.entityname="APSEZ" meta.hostid="261" meta.entityid="APSEZ">APSEZ</keyword> on both operational and financial metrics. <keyword id="20051210" type="General" weightage="20" keywordseo="Adani-Ports" source="keywords" meta.keywordsubtype="org" meta.entityname="Adani Ports" meta.hostid="261" meta.entityid="Adani Ports">Adani Ports</keyword> delivered 3x the India cargo growth rate and a record volume of 420 million tonne. "Clearly, the company's business model of end-to-end service, strategic partnership with key customers, leveraging the network effect through its string of ports, and focus on operational efficiencies is yielding results, said Ashwani Gupta, Whole-Time Director and CEO, APSEZ. With incremental cargo volumes of 100 million tonne achieved in less than two years, Adani Ports is well poised to achieve 500 million tonne of cargo volumes in 2025, aided by the recently acquired Gopalpur Port, and the scheduled commissioning of Vizhinjam Port in the current year and WCT (West Container Terminal) next year, said Gupta. "We continue to invest heavily in the business to drive growth, particularly in the logistics segment. Our newly launched trucking segment enables APSEZ to provide the last-mile connectivity solution to its customers. Our efforts towards sustainable business growth are well recognized in the top decile ESG rating from four global rating agencies," added Gupta. In 2023-24, APSEZ said it handled 27 per cent of the country's total cargo and 44 per cent of container cargo. Ten of its ports from the India portfolio recorded their lifetime high cargo volumes for the year. For 2023-24, the APSEZ Board has recommended a dividend of Rs 6 per share. This implies a payout of around Rs 1,300 crore for the company. A dividend is a reward that companies often provide to their shareholders, though it is not mandatory, from a portion of their earnings. APSEZ is the largest port developer and operator in India with seven strategically located ports and terminals on the west coast (Mundra, Tuna, Dahej, and Hazira in <keyword id="19906863" type="General" weightage="20" keywordseo="Gujarat" source="keywords">Gujarat</keyword>, Mormugao in Goa, Dighi in Maharashtra and Vizhinjam in Kerala) and eight ports and terminals on the East coast of India (Haldia in West Bengal, Dhamra and Gopalpur in Odisha, Gangavaram and Krishnapatnam in Andhra Pradesh, Kattupalli and Ennore in Tamil Nadu and Karaikal in Puducherry). SEE ALSO:<a href="https://www.businessinsider.in/sports/webstories/india-t20-world-cup-squad-kulcha-back-on-menu-kl-rahul-dropped/slidelist/109730805.cms" target="_blank"></a> <a href="https://www.businessinsider.in/sports/webstories/india-t20-world-cup-squad-kulcha-back-on-menu-kl-rahul-dropped/slidelist/109730805.cms" target="_blank">India T20 World Cup squad: KulCha back on menu, KL Rahul dropped</a><a href="https://www.businessinsider.in/business/auto/news/april-auto-sales-hyundai-continues-to-hold-the-second-position-as-tata-motors-inches-closer/articleshow/109777834.cms" target="_blank"></a> <a href="https://www.businessinsider.in/business/auto/news/april-auto-sales-hyundai-continues-to-hold-the-second-position-as-tata-motors-inches-closer/articleshow/109777834.cms" target="_blank">April auto sales – Hyundai continues to hold the second position as Tata Motors inches closer</a><a href="https://www.businessinsider.in/business/auto/news/upcoming-cars-and-two-wheelers-launching-in-india-in-may-2024/slidelist/109723620.cms" target="_blank"></a> <a href="https://www.businessinsider.in/business/auto/news/upcoming-cars-and-two-wheelers-launching-in-india-in-may-2024/slidelist/109723620.cms" target="_blank">Upcoming cars and two-wheelers launching in India in May 2024</a>

Adani Ports' net profits jump 50% in 2023-24, registers threefold cargo growth

All the members of the <keyword id="3820" type="General" weightage="100" keywordseo="mukesh-ambani" source="Orion">Mukesh Ambani</keyword> family will be present personally at Ayodhya to witness the <keyword id="19935704" type="General" weightage="20" keywordseo="pran-pratishtha" source="keywords">Pran Pratishtha</keyword> ceremony of <keyword id="19904197" type="General" weightage="20" keywordseo="ram-lalla" source="keywords">Ram Lalla</keyword>. <keyword id="448875" type="General" weightage="20" keywordseo="antilia" source="Orion">Antilia</keyword>, the Ambani residence, is decorated as the nation gets ready to welcome Lord <keyword id="19984920" type="General" weightage="20" keywordseo="shri-ram" source="keywords">Shri Ram</keyword>. An Anna Seva Bhandara was also being organised. <keyword id="19936674" type="General" weightage="20" keywordseo="reliance" source="keywords">Reliance</keyword> Industries said the temples at Reliance premises across the country will celebrate with special puja today. These include various temples in Reliance facilities such as in Mumbai, Jamnagar, Dahej, Nagothane, Hazira, Silvassa, Halol, Hoshiarpur, Nagpur, Shahdol, Kakinada and various other locations. Reliance Industries has declared a holiday to enable the lakhs of Reliance family to celebrate and join the 'Pran Pratishtha' ceremony. In Ayodhya, Jio has set up additional towers for enhanced and seamless network, Multiple Cells on Wheels (CoWs) placed across key locations for ubiquitous connectivity, charging stations set up across key paths to help visitors charge their devices constantly. (Some of these charging stations will be permanent installations in Ayodhya), support for setting up 'May I Help You' desks at important locations. In collaboration with Doordarshan, Live Telecast and real-time updates of Ram Mandir Pran Pratistha ceremony will available on JioTV, JioTV+ and JioNews. JioTV will provide customers with comprehensive details about the ceremony, including rituals, traditions, and cultural significance. This exclusive content will deepen the audience's understanding and appreciation of this auspicious occasion. JioTV and JioNews will feature expert comments and analysis, offering viewers unique insights into the cultural and historical significance of the Ram Mandir Pran Pratisthan. Ayodhya is set to go down in history with the much-awaited Pran Pratishtha of Shri Ram Lalla at the Ram Temple on Monday. The Pran Pratishtha ceremony of Lord Ram in the newly built Shri Ram Janmbhoomi Mandir in Ayodhya will be held at around noon. Earlier in October, 2023. The ceremonial journey leading up to the Pran Pratishtha included a seven-day ritual that commenced on January 16, 2024. Earlier, the idol of Shri Ram Lalla, carved by renowned Mysuru sculptor Arun Yogiraj, was placed inside the sanctum sanctorum of the temple. The ceremony will be attended by representatives of all major spiritual and religious sects of the country. People from all walks of life including representatives of various tribal communities will also attend the ceremony. Prime Minister Narendra Modi will address this gathering on the occasion. The Prime Minister will interact with workers associated with the construction of Shri Ram Janmbhoomi Mandir. Prime Minister will also visit the Kuber Tila, where the ancient Mandir of Bhagwan Shiv has been restored. He will also perform Pooja and Darshan at this restored temple. The Shri Ram Janmbhoomi Mandir is constructed in traditional Nagara style. Its length (east-west) is 380 feet; width 250 feet and height is 161 feet; and is supported by a total of 392 pillars and 44 doors. The pillars and walls of the temple showcase intricately sculpted depictions of Hindu deities, gods, and goddesses. In the main sanctum sanctorum at ground floor, the childhood form of Bhagwan Shri Ram (the idol of Shri Ramlalla) has been placed.

Ambani family to be in Ayodhya for Pran Pratishtha ceremony

New Delhi, India's largest gas firm GAIL is imitating billionaire Mukesh Ambani-led Reliance Industries Ltd in planning to import ethane from the US to replace natural gas and naphtha as feedstock at its petrochemical plants. "In a bid towards diversification of the feedstock, GAIL is looking to import ethane from ethane-surplus countries with matured export terminal infrastructure through water borne transportation to India and transport it further through GAIL's pipeline systems to demand centres," the company said in a tender document. It sought quotes to hire a very large ethane carrier (VLEC) for 20 years starting mid-2026 for importing ethane from the US. The ship with capacity of 80,000 to 99,000 cubic metres is targeted to take deliveries from US ports of Marcus Hook, Nederland, Morgan's Point or Beaumont and deliver ethane at Dahej or Hazira in Gujarat or Dabhol in Maharashtra. GAIL has a petrochemical plant at Pata, near Kanpur in Uttar Pradesh, and is also looking to set up another unit at Usar in Maharashtra. The company had to cut down on run rate at Pata after the government diverted gas supplies from the plant to city gas suppliers. This led to its profitability being impacted and so now the company is looking to supplement the feedstock with ethane. Reliance had in 2014 announced ethane plans in 2014 and started importing the feedstock from the US in 2017. It is importing 1.6 million tonnes per annum of ethane and is using six VLECs for transporting it to India. With ethane replacing propane and naphtha used in ethylene production, Reliance is estimated to have saved about USD 450 million annually. Reliance used 2.5 million tonnes a year of naphtha as feedstock in petrochemical crackers and ethane reduced its use by 5,00,000 tonnes, which now could be exported. Ethane is expected to be produced in large volumes in North America due to the shale gas revolution, which has generated an abundance of liquefied natural gas (LNG) and liquefied petroleum gas (LPG). It is primarily used as petrochemical feedstock to produce ethylene by steam cracking. Ethylene is the starting material for making a wide range of products -- from packaging films, wire coatings, and squeeze bottles as well as plastics and synthetic rubber. Reliance uses ethane at its crackers in Dahej and Hazira in Gujarat and Nagothane in Maharashtra. GAIL in the tender said it is looking at co-transportation of ethane and LNG through the same vessel loaded in separate compartments. "Bidders may indicate whether the vessel offered for time-charter is compatible for part loading of ethane and LNG. In case of co-transportation the primary and secondary fuel options may necessarily be indicated," GAIL said. GAIL said the 20 year charter hire agreement can be extended by a further 5 years. Last date for submission of an expression of interest (EoI) for offering VLECs is February 25.

GAIL takes the 'Reliance route' with its US ethane plans

<ul><li><keyword id="6368035" type="General" weightage="100" keywordseo="essar" source="Orion">Essar</keyword> on Friday announced signing definitive agreements with Arcelor Mittal Nippon Steel (AM/NS) for certain Ports and Power infrastructure assets which are primarily captive to Hazira steel plant operations.</li><li>The deal also envisages a 50-50 Joint Venture partnership, for building a 4 MTPA LNG terminal at Hazira, Gujarat, between Essar and <keyword id="47654" type="General" weightage="50" keywordseo="arcelormittal" source="Orion">ArcelorMittal</keyword>.</li><li>With this deal, Essar will conclude its planned asset monetisation programme and complete the debt repayment plan of $25 billion (Rs 2,00,000 crore) with the Indian banking sector being almost fully repaid.</li></ul>In one of the largest post-pandemic M&amp;A deals in <keyword id="3658" type="General" weightage="50" keywordseo="india" source="Orion">India</keyword>, Essar on Friday announced signing definitive agreements with Arcelor Mittal Nippon Steel (AM/NS) for certain Ports and Power infrastructure assets which are primarily captive to Hazira steel plant operations. The deal also envisages a 50-50 Joint Venture partnership, for building a 4 MTPA LNG terminal at Hazira, Gujarat, between Essar and ArcelorMittal. <keyword id="124029" type="General" weightage="50" keywordseo="rewant-ruia" source="Orion">Rewant Ruia</keyword>, Director, Essar Ports &amp; Terminals Limited, said: "With this deal, which yields a multifold return on our investments, Essar Ports &amp; Terminals has unlocked value for all its stakeholders and will continue to focus on building new and modern core infrastructure assets in India and overseas." Prashant Ruia, Director, <keyword id="275818" type="General" weightage="50" keywordseo="essar-capital" source="Orion">Essar Capital</keyword>, said: "Essar is now repositioned for growth and resurgence. After consolidating our businesses over the last 4 years, we have now entered the next growth phase focused on helping build a sustainable energy future that will impact lives and livelihoods for a greener world." With this deal, Essar will conclude its planned asset monetisation programme and complete the debt repayment plan of $25 billion (Rs 2,00,000 crore) with the Indian banking sector being almost fully repaid. Essar's aggregate revenues will stand at $15 billion (Rs 1.2 lakh crore) and an AUM (Asset Under Management) of $8 billion (Rs 64,000 crore) comprising of various assets spread across India and overseas. These assets under Energy sector include a 10 MTPA refinery in the UK, 15 TCF reserves (including some producing fields) of Unconventional Hydrocarbons in India &amp; Vietnam and a 1,200 MW Power Plant in India; Infra sector assets include a storage terminal in UK of 3 million m3 capacity and a 20 MTPA Port in India; Metals &amp; Mining sector assets include a major iron ore mine and pellet project in the US; Technology &amp; Services sector assets include Global EPC business and IT solutions provider with centres across 30 plus countries. By monetizing assets in a planned and strategic manner, that were built with earlier technologies over the last several years, Essar is now poised to reinvest in new assets with the latest, more efficient and ESG-compliant technologies to last the next several decades. Essar has planned significant investments in its core sectors of energy, infrastructure, metals &amp; mining, and technology &amp; services. While ongoing businesses will provide operational stability, our renewed focus will be to transition existing assets to green and invest in sector-transforming clean businesses around the investment themes of decarbonisation and digitisation. SEE ALSO: <a target="_blank" class="c-link c-message_attachment__title_link" href="https://www.businessinsider.in/stock-market/news/dreamfolks-services-ipo-subscribed-56-68x-on-day-3-on-strong-institutional-retail-investor-demand/articleshow/93804359.cms">Dreamfolks Services IPO subscribed 56.68x on day 3 on strong institutional, retail investor demand</a> <a target="_blank" class="c-link c-message_attachment__title_link" href="https://www.businessinsider.in/business/news/sequoia-capital-offloads-2-of-its-stake-in-zomato/articleshow/93802868.cms">Sequoia Capital offloads 2% of its stake in Zomato</a>

Arcelor Mittal Nippon Steel signs ₹19,000 crore deal to buy Essar's port and power assets

<ul class="summary-list"><li>A container ship carrying chemicals caught <keyword id="28762" type="ENTERTAINMENT" weightage="60" keywordseo="fire">fire</keyword> off the coast of <keyword id="6355572" type="LOCATION" weightage="60" keywordseo="sri-lanka">Sri Lanka</keyword> last week. </li><li>Singapore-flagged MV X-Press Pearl was waiting to enter a port when it caught fire.</li><li>All of the ship's crew members have been taken to safety.</li></ul>A container ship carrying chemicals has been on fire off the coast of Sri Lanka for six days.The Singapore-flagged MV X-Press Pearl - carrying 1,486 containers, including 25 tons of nitric acid - was waiting to enter a port in Colombo when it caught fire on May 18, <a href="https://apnews.com/article/india-sri-lanka-fires-business-ac14c49aa749916f82966b7ff3325050">the Associated Press reported.</a>Sri Lanka's navy believes the fire was caused by chemicals being transported on the ship, which was loaded in Hazira, India, on May 15.X-Press Feeders, which owns and operates the ship, said its 25 crew members have been taken to safety..Sri Lankan Navy spokesman Indika de Silva told the Associated Press that firefighters on tugboats and a naval ship are all trying to douse the fire.

A container ship carrying chemicals near Sri Lanka has been burning for 6 days

New Delhi, Mar 19 () Global steel major ArcelorMittal on Thursday announced plans of reducing productions in Europe to ensure wellbeing of employees amid the spread of deadly coronavirus in the continent.The outbreak has impacted several European countries in which ArcelorMittal operates, the company said in a statement."Given the extent of the outbreak, the health and safety implications, and particularly the impact it is having on several European countries in which ArcelorMittal operates, the company is taking steps to reduce production from its European operations to ensure the wellbeing of our employees is maintained and that production is aligned with demand," it said.The statement issued by ArcelorMittal did not have any mention of the steel plant in Hazira, India but said at all global operations, the company is following government and WHO's advice and guidelines in order to protect employees and prevent the spread of the infection.The Hazira plant in Gujarat is owned by JV firm ArcelorMittal Nippon Steel India (AMNS), in which ArcelorMittal has 60 per cent stake and the rest 40 per cent is owned by its Japan-based partner Nippon Steel Corporation (Nippon Steel).ArcelorMittal further said it takes the risks associated with the coronavirus outbreak very seriously and the safety and wellbeing of its employees is of paramount importance."We will continue to monitor the evolution of the coronavirus in each of our operating markets and take decisions accordingly to ensure the wellbeing of our employees and our ability to meet customer demand," it said. ABI ABI ANUANU

You Searched For "hazira" and got 9 results

Reliance to set up carbon fibre facility in Gujarat as Ambani promises 'green growth'

PTI

ArcelorMittal Nippon Steel completes acquisition of Bhander power plant in Hazira

PTI

Essar Ports completes work on passenger ferry terminal at Hazira

PTI

Adani Ports' net profits jump 50% in 2023-24, registers threefold cargo growth

ANI

Ambani family to be in Ayodhya for Pran Pratishtha ceremony

ANI

GAIL takes the 'Reliance route' with its US ethane plans

PTI

Arcelor Mittal Nippon Steel signs ₹19,000 crore deal to buy Essar's port and power assets

IANS

A container ship carrying chemicals near Sri Lanka has been burning for 6 days

Kelly McLaughlin

Coronavirus impact: ArcelorMittal plans to cut production in Europe

PTI

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