Steel projects in China and Kenya; Scandinavian Steel for sale; India WEEE market to surge
Stainless steel project in China
A cooperation framework agreement has been reached to construct a CNY1.8bn (£171m) worth hot-rolled stainless steel project with a capacity of 2m tonnes per year in Yangjiang city, Guangdong province, China. The investment in the project will jointly be made by the local government of Yangjiang, Goldsland Holdings Company and Tsingshan Holding Group Co.
Shanghai Metals Market
Scandinavian Steel’s chief considers offloading company by December
Scandinavian Steel’s chairman and CEO Kent Lowenberg is in talks to sell the company. Four large industrial companies have already shown a serious interest in buying acquiring the Swedish metals and alloys producer. The firm could be sold by December as Lowenberg steps down from his role as CEO and chairman. He will also intend to give a percentage of the ownership to the six members of the trading team at the company.
Swedish invitation to study disposal of solid waste
Karnataka Chief Minister Siddaramaiah has been invited to visit Sweden in August to study various systems including solid waste disposal using sophisticated technologies. Siddaramaiah also has been invited to study the urban transport system in Sweden.
Indian e-waste market to surge by 2019
The e-waste market in India is poised to rise at around 30.6% CAGR over the next five years, according to the ‘India E-Waste Management Market Forecast & Opportunities 2019’. The market has seen the biggest contributions from southern and central regions thanks to the presence of various IT centres of Chennai, Bengaluru and Hyderabad.
Urban News Digest
Kenya aims to set up integrated steel plant
Kenya is interested in setting up either an integrated steel plant or a steel plant in partnership with state-run Steel Authority of India (SAIL). The African nation, which does not have any integrated steel plant so far, intends to set up the plant based on pig iron to be supplied by SAIL. The African country intends to set up the plant based on pig iron to be supplied by SAIL.
The Economic Times
Steel consumption in Latin America to increase 3.4% in 2014
According to Alacero’s director general Rafael Rubio, Latin American steel consumption is to surge 3.4% in 2014. In January-April 2014, steel consumption in the country rose 1.4% against the same period last year. Consumption in the second quarter is expected to grow compared to January-April 2014. The rate of growth should continue to rise for the remainder of the year due to an overall strengthening of the global economy.
Big River Steel completes funding for steel mill
Big River Steel has completed the funding required to construct a $1.3bn (£759m) steel mill in Mississippi County. A groundbreaking ceremony is due to be held later this summer. Construction is likely to take about two years for the mill, which will produce steel for the automotive, oil and gas, and electrical energy industries.
Arkansas News Bureau