Metals & Mining

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Punj Lloyd acquires 50% stake in Indonesian coal mining company

Punj Lloyd, an engineering and construction company, said it has acquired a stake in an Indonesian coal mining company, through a subsidiary. Sembawang Engineers and Constructors, a Singapore-based subsidiary of Punj Lloyd, has taken a 50% stake in a thermal coal mining company in Central Kalimantan, Indonesia.

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Rail freight rises: core sector in good shape

India’s goods traffic movement is a good lead indicator of how some core sectors are performing. Coal is shipped by rail. Steel plants transport ore and other raw materials to their plants, and transport finished steel back by rail. Other key commodities being transported by rail include fertilisers, foodgrains and crude oil. An increase in freight traffic either indicates higher demand for raw materials (coal is used by power and steel plants) or higher production because shipments are going up.

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JSW Steel and Severfield Structures form JV for steel structurals

JSW Steel, India’s third largest steel-maker, will make steel structurals in a joint venture with Severfield Structures. JSW Severfield Structures will be a 50:50 JV, with JSW’s investment being routed through a subsidiary, JSW Building Systems. The JV will spend ₤30mn pounds or Rs 220 crore to set up a plant that will fabricate 35,000 tonnes of structural steel.

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