Chief Correspondent, Commodities, India
Krishna's Feed
Dec 18, 2014

Modi moves in to speed up $300 billion stuck projects

NEW DELHI (Reuters) – Prime Minister Narendra Modi has taken direct control of a project-monitoring body to fast-track investments worth almost $300 billion and revive manufacturing in the country, two officials with direct knowledge of the matter told Reuters.

Pro-business Modi has faced criticism in recent weeks that his ambition to spur investment and re-energise the economy has yet to be realised, more than six months after he won elections with the strongest mandate in three decades.

Dec 18, 2014

India’s Modi moves in to speed up $300 bln stuck projects

NEW DELHI, Dec 18 (Reuters) – Indian Prime Minister Narendra
Modi has taken direct control of a project-monitoring body to
fast-track investments worth almost $300 billion and revive
manufacturing in the country, two officials with direct
knowledge of the matter told Reuters.

Pro-business Modi has faced criticism in recent weeks that
his ambition to spur investment and re-energise the economy has
yet to be realised, more than six months after he won elections
with the strongest mandate in three decades.

Dec 16, 2014

Tata Steel close to reopening its top iron ore mine

NEW DELHI (Reuters) – Tata Steel (TISC.NS: Quote, Profile, Research) may be allowed to resume production from its biggest iron ore mine this month, a government official said, ending a stoppage of over three months that has forced the firm to import the raw material for the first time ever.

India was earlier the third-largest supplier of iron ore in the world, but court restrictions over the past three years to curb illegal mining have prompted companies such as Tata Steel and JSW Steel (JSTL.NS: Quote, Profile, Research) to turn to imports.

Dec 16, 2014

India’s Tata Steel close to reopening its top iron ore mine

NEW DELHI, Dec 16 (Reuters) – India’s Tata Steel
may be allowed to resume production from its biggest iron ore
mine this month, a government official said, ending a stoppage
of over three months that has forced the firm to import the raw
material for the first time ever.

India was earlier the third-largest supplier of iron ore in
the world, but court restrictions over the past three years to
curb illegal mining have prompted companies such as Tata Steel
and JSW Steel to turn to imports.

Nov 24, 2014

India targets private cash to build railways to its ports

NEW DELHI, Nov 24 (Reuters) – India is targeting up to $1
billion of private investment by 2017 to build rail lines
linking ports and national networks to ease growing congestion,
which has delayed coal imports for power plants and contributed
to a power supply crisis.

Such investment would more than double the $400 million that
India’s state-owned railways have attracted in the decade since
they allowed limited private participation and help fund crucial
“last mile” links to ports.

Nov 24, 2014

India’s Jindal Steel shelves $10 bln project after coal setback

NEW DELHI (Reuters) – India’s Jindal Steel and Power Ltd has shelved a $10 billion coal-to-diesel project, its chairman told Reuters, becoming the first big casualty of a court decision to scrap coalfields allocated to private firms since 1993.

Jindal Steel’s 1.5 billion ton coalfield in the eastern state of Odisha was among 214 canceled by the Supreme Court in September, when it ruled the practice of selective allocation was illegal and arbitrary. With nine coalfields taken back, the company has been worst hit by the tougher-than-expected verdict.

Nov 24, 2014

Jindal Steel shelves $10 bln project after coal setback

NEW DELHI (Reuters) – Jindal Steel and Power Ltd(JNSP.NS: Quote, Profile, Research) has shelved a $10 billion coal-to-diesel project, its chairman told Reuters, becoming the first big casualty of a Supreme Court decision to scrap coalfields allocated to private firms since 1993.

Jindal Steel’s 1.5 billion tonne coalfield in Odisha was among 214 cancelled by the Supreme Court in September, when it ruled the practice of selective allocation was illegal and arbitrary. With nine coalfields taken back, the company has been worst hit by the tougher-than-expected verdict.

Nov 20, 2014

India to allow foreign firms mine and sell coal: coal secretary

NEW DELHI (Reuters) – India will allow locally registered foreign firms to mine and sell coal when commercial mining is permitted as part of the opening up of the nationalized industry after four decades, Coal Secretary Anil Swarup told Reuters.

To end a chronic coal shortage that cripples power plants and curb the country’s imports of the fuel, the Narendra Modi government will also spend about $1 billion by 2019 to buy railway wagons and transport coal from remote mines, Swarup said in an interview on Thursday.

Nov 20, 2014

India to allow foreign firms mine and sell coal

NEW DELHI (Reuters) – India will allow locally registered foreign firms to mine and sell coal when commercial mining is permitted as part of the opening up of the nationalised industry after four decades, Coal Secretary Anil Swarup told Reuters.

To end a chronic coal shortage that cripples power plants and curb the country’s imports of the fuel, the Narendra Modi government will also spend about $1 billion by 2019 to buy railway wagons and transport coal from remote mines, Swarup said in an interview on Thursday.

Nov 20, 2014

Modi’s divide and rule weakens Coal India unions as strike looms

NEW DELHI, Nov 20 (Reuters) – A rift between the five
powerful labour unions at Coal India Ltd is set to
clear the way for Prime Minister Narendra Modi’s government to
complete a stake sale in the state company that is critical to
hitting budget targets.

One of the unions, close to Modi’s nationalist party, says
it has the backing of half of Coal India’s 370,000 workers and
will not join a strike on Monday to oppose plans to sell 10
percent of the firm and let private firms to mine and sell coal.

    • About Krishna

      "I lead the India commodities team for Reuters in New Delhi. I cover the coal, metals and mining industries with a focus on government policy. Before coming to the capital in April 2013, I headed two teams of reporters covering small-and-medium-sized U.S./Canada-listed energy and resources companies."
      Joined Reuters:
      August, 2009
      Languages:
      Assamese
    • More from Krishna

    • Contact Krishna

    • Follow Krishna