Steel plants in india

Market leader Hoa Phat Group last month exported over 12,000 tonnes of products, mostly cold-galvanized steel, to North and South America. This followed an export of 10,000 tonnes in January to Belgium and Spain. The company targets producing 300,000-400,000 tonnes of steel products this year, 30-40 percent of which are likely to be exported. Its competitor Hoa Sen Group last month set a new export record of 121,000 tonnes of galvanized steel worth more than $100 million. The group has a network of over 85 countries and territories, with main markets being the U.S, Mexico, Europe and Southeast Asia. Vietnam’s steel industry is expected to see growth of 5-6 percent this year, with global demand set to rise by 4.1 percent thanks to recovery in developed markets, according to the Vietnam Steel Association (VSA). Other drivers for growth include expectations of rising public investment in infrastructure, the recovery of the real estate market and more foreign direct investment, said VSA deputy chairman Trinh Khoi Nguyen. The industry started 2021 strongly, with a 61 percent year-on-year rise in production volume to 2.65 million tonnes. Domestic sales in the period rose 55 percent to 2.12 million tonnes, while exports rose 53 percent in value to $553 million. These figures indicate robust recovery prospects this year after VSA saw half of its members reporting plunging revenues last year, especially in the first and second quarter, due to Covid-19 impacts. However, trade officials have warned that rising safeguard measures could hurt the industry. Last month, Indonesia imposed an anti-dumping duty of 3.01-49.2 percent on Vietnam cold steel sheets. In January, Malaysia revised duties on cold-rolled coils of alloy and non-alloy steel from Vietnam to 7.42-33.7 percent for the period between January 24 and May 23. The U.S. and Canada have also slapped anti-dumping duties on Vietnam’s steel products in recent years. The Trade Remedies Authorities …

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Indian pharmaceutical firm Bharat Biotech said Wednesday its domestically developed vaccine, criticised for being rolled out before final trials, was found in interim late-stage data to have almost 81 percent efficacy in preventing Covid-19 infection. A senior citizen waits to receive a Covid-19 coronavirus vaccine at the Rajawadi hospital in Mumbai on March 3, 2021 Questions had been raised by Indian medical experts about the effectiveness of Bharat Biotech's "Covaxin" after officials authorised it for emergency use in January even though its Phase 3 trials -- the last stage before regulatory approval -- were not complete. "Covaxin (not only) demonstrates high clinical efficacy trend against Covid-19 but also significant immunogenicity against the rapidly emerging variants," Bharat Biotech chairman Krishna Ella said in a statement. The company added that "severe, serious, and medically attended adverse events occurred at low levels and were balanced between vaccine and placebo groups". It said interim phase 3 trial results for Covaxin -- co-developed with the scientific agency leading the government's response, the Indian Council for Medical Research -- were based on 43 cases of Covid-19 among 25,800 participants. Of the 43 cases, 36 were recorded in participants who received a placebo and seven in those who were given Covaxin, pointing to an efficacy rate of 80.6 percent after two doses for those who had not previously been infected by the virus, the company added. The firm said it would share further interim analysis after 87 cases, with a final analysis planned for 130 cases. The data from the second and final studies would also be submitted to a peer-reviewed journal for publication, it added. Covaxin, alongside the AstraZeneca/Oxford shot, is one of two vaccines approved for use in India. The AstraZeneca/Oxford vaccine has been found to be about 62 percent effective in preventing infection. The Pfizer-BioNTech and …

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While global supply chains continue to adjust to current restrictions, what can be done to mobilise high-quality investment? Deputy Minister of Planning and Investment Tran Duy Dong Trade conflicts among major economies worldwide and the severe consequences of the pandemic since last year have been accelerating the relocation of big corporations to avoid high tariffs and reduce risks. Of these, numerous countries have also promulgated attractive policies for foreign direct investment (FDI), while Vietnam has got its own advantages to welcome investment, as well as carried out some outstanding solutions and innovative measures to meet the demand of potential investors. Vietnam has been ready to welcome new investors based on huge clean land areas, power sources for production, high-quality human resources, supporting industries, and simplified administrative procedures. For large-scale projects which apply high technologies, generate a lot of added value, and maintain close links with local enterprises, special incentives have already been built, and the Ministry of Planning and Investment (MPI) in collaboration with other ministries has drafted and submitted to the government. Despite the pandemic, some online meetings, dialogues, and investment promotion conferences between Vietnamese authorities and overseas investors have been organised to update new policies, incentives, and feedback for their concerns, including some of largest technology corporations in the world. Besides this, the MPI proactively works with diplomatic agencies, business associations, consultancies, banks, and investment funds to approach more investors that are already interested in this destination. Meanwhile, a task force responsible for FDI attraction led by Deputy Prime Minister Pham Binh Minh and supported by MPI Minister Nguyen Chi Dung has been established to call for as many foreign-invested projects as possible. The MPI has also created more favourable …

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