Top Indian Metal & Energy Industry News & Updates - 25 Jan 2025,Saturday
Govt. Policy / Industry
IH2A proposes USD 2.5 billion boost to green hydrogen mission
The India Hydrogen Alliance (IH2A) has recommended an additional allocation of USD 2.5 billion to the National Green Hydrogen Mission (NGHM), in addition to the USD 2.3 billion already allocated. The proposal aims to address slow project development and lack of offtake agreements, while accelerating the establishment of a green hydrogen economy in India.
Mineral-rich states top new fiscal index
Mineral-rich Odisha, Chhattisgarh, Goa and Jharkhand bagged the top slots in a new comprehensive annual index launched by the Niti Aayog to gauge the fiscal health of state governments. The index placed debt-ridden Punjab at the bottom of the rankings, followed by Andhra Pradesh, West Bengal and Kerala.
📝 Telangana to get Centre's support on nine power schemes worth Rs 488 crore
📝 India Energy Week to see global participation, likely to be 2nd largest event: Hardeep Puri
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Iron & Steel
Indian steel firms cautiously optimistic on Trump moves
India’s primary steelmakers may not take a material hit from any across-the-board hike in import tariffs on steel by the US, because the country is not a major export market for them, with less than 3% share in their total shipments. However, they see even greater influx of Chinese steel into India at lower prices, and have intensified their demand for a 25% safeguard duty on imports of the alloy.
📝 JSW Steel Q3 Results: Profit slumps 70% to Rs 719 crore on weak prices of steel
📝 Vizag Steel Plant will not be merged with SAIL: Union Minister Srinivasa Varma
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Aluminium & Copper
Taural India signs MoU with Maharashtra to expand manufacturing operations in Supa
Pune: Taural India, a leading world-class integrated aluminium foundry, and the Government of Maharashtra have signed a Memorandum of Understanding (MoU) to expand the company’s advanced manufacturing facility in Supa, Ahilya Nagar, Maharashtra. The signing, held at the Maharashtra Pavilion during the World Economic Forum in Davos, was presided over by Maharashtra Chief Minister Shri Devendra Fadnavis and other senior government officials. This agreement underscores a bold step toward driving industrial growth and strengthening self-reliance in Tier II regions of Maharashtra.
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Gold / Silver & Bullion
Gold breaches Rs 83,000 mark for first time
New Delhi: Gold prices extended the rally for the eighth consecutive session and climbed Rs 200 to breach the psychological level of Rs 83,000 per 10 grams for the first time in the national capital on Friday amid aggressive buying triggered by global market uncertainties.
📝 Avg daily trading volumes of gold touched $227 billion in 2024
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Other Metals
📝 Hindustan Zinc profit to hit Rs 11,402 cr by FY27, predicts Ventura Securities
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Oil & Gas / OMCs
Barmer refinery to be commissioned by December 2025: HPCL
State-run Hindustan Petroleum Corporation (HPCL) said on Friday that it expects the full commissioning of the refinery-cum-petrochemicals complex at Barmer (Rajasthan) by end of the current calendar year.
📝 HPCL shares jump nearly 5% as net profit more than triples in Q3
📝 Amid hike in gas imports, LNG terminal utilisation rises to 56% in Apr-Nov
📝 Not worried about US sanctions against Russian oil, says Hardeep Singh Puri
📝 India would continue buying Russian crude if available at discount: Hardeep Puri
📝 India says sanctioned Russian oil tankers can discharge before Feb 27
📝 Tailored regulatory framework for oil and gas sector discussed at Shillong workshop
📝 BPCL's Andhra oil refinery to cost Rs 95k cr, costliest so far
📝 Oil prices set to end week lower on Trump energy policies
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Power
Adani Group loses Sri Lanka power contract as deal revoked amid corruption allegations; group denies report
Trouble for Adani: Sri Lanka’s AKD Government revokes 500 MW Adani wind power contract, says report
The Financial Express
📝 'False and misleading': Adani Group rejects reports of power contract cancellation by Sri Lanka
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Renewable Energy
Suzlon bags 486 MW hybrid order in partnership with Torrent Power
Suzlon Group on Friday announced that its collaboration with Torrent Power has bagged a new hybrid order of 486 MW. In a regulatory filing, the company said that the strategic collaboration is pivotal in supporting India’s ambitious target of achieving 50 per cent of electricity from renewable sources and strengthening the Make in India initiative.
Union Budget 2025-26: Here're key challenges in renewable energy sector
Key challenges in Renewable energy sector
AMG Green Power and ORIX seek CCI nod for stake realignment in Greenko Energy
In a significant development for the renewable energy sector, AMG Green Power B.V. (AMG Power) and ORIX Corporation (ORIX) have approached the Competition Commission of India (CCI) for approval of a proposed transaction involving Greenko Energy Holdings (GEH) and AM Green (Luxembourg) S.À.R.L. (AMG Lux).
📝 NTPC Green Energy arm bags 300 MW solar project from NHPC
📝 Energy storage systems: The key to unlocking India's net-zero goals: Sharat Goyal, CEO, Impact Infracap
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Nuclear Energy
📝 DEE development engineers in talks with international firms to provide piping solution to their nuclear power plant
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International
📝 Adani Green Energy: Sri Lanka revokes power purchase deal
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Economy
India and US to sort out trade issues with talks: MEA
As the US presses for more balanced trade with its partners, India remains in close communication with the new administration and whatever trade issues are there between the two countries it will be sorted out with talks, a senior official said Friday.
India's forex reserves fall to $624 billion, down by 1.8 billion as of January 17
FX reserves hit near 11-month low as rupee slide continues to weigh
Rupee rises 22 paise to close at 86.22 against US dollar
📝 India business growth slows to 14-month low in January, PMI data shows
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