Sajjan Jindal-controlled the JSW Steel group plans to invest Rs 2000 crore in four years to setup a deep sea port in the Bhadrak district of Orissa, which is located right outside the border of West Bengal.  

The proposed port in Orissa, which would handle coal and finished steel products, have an initial capacity of 25-30 million tones. The company would take 3-4 years to execute the project.  

The port would also support import of raw materials and export of finished goods of the 10 million steel plants in West Bengal and Jharkhand.

Anil Ambani group firm Reliance Power (R-Power), has received US$1 billion funding from three Chinese banks for the Sasan ultra mega power project (UMPP) in Madhya Pradesh.

The fund raised from China Exim Bank, Chinese Development Bank and China Export & Credit Insurance Corporation (Sinosure).

Reliance Power is currently developing two power projects — Rosa Phase I (600 Mw) and Sasan UMPP (3,960 Mw).     

World’s largest integrated metals and mining company ArcelorMittal has acquired 70% stake in Manchester Tubos e Perfilados SA, a Brazilian steel processor and distributor, for an undisclosed amount.

ArcelorMittal said the move will reinforce its downstream position in Brazil and help it target the country's construction market as well.