ElSewedy of Egypt to Delay Building Cable Factory in Libya

wirecableApril 18, 2011April 30, 2011

April 18, 2011April 30, 2011

ElSewedy Electric will delay investing $65 million to build a plant in Libya after unrest in the North African country. The company is said to be at very preliminary stages with minor investments made and they were in the process of getting a piece of land for the project. The......

Borouge awards US$169 million contract to Hyundai for construction of speciality plastics unit in Abu Dhabi

wirecableApril 18, 2011April 30, 2011

April 18, 2011April 30, 2011

Borouge has awarded a contract worth US$169 million to Hyundai Engineering and Construction of South Korea to build a cross-linkable polyethylene (XLPE) unit at its petrochemical plant in Ruwais, Abu Dhabi. With an annual capacity of 80,000 tonnes, the unit is an added value complement to the low density polyethylene......

Hindustan Cables Revival Under Consideration

wirecableApril 18, 2011April 30, 2011

April 18, 2011April 30, 2011

The Heavy Industry Ministry said that it has written to the steel ministry for considering sick state owned Hindustan Cables revival through Steel Authority of India. Mr A Sai Prathap minister of state for heavy industries informed the Rajya Sabha that “The Department of Heavy Industry has written to the......

CRU 5th Wire and Cable conferenceCRE

wirecableApril 18, 2011April 30, 2011

April 18, 2011April 30, 2011

CRU’s 5th Wire and Cable conference, incorporating the 32nd KMI Fibreoptics conference, will take place from 15-17 May, in Amsterdam, The Netherlands. Leading figures from the global wire and cable industries will be providing their insights, including Frank Dorjee, CEO & Chairman of the Board, Draka Holding NV, Noval Jamalullail,......

Finolex Cables to form JV with Corning Inc

wirecableApril 18, 2011April 30, 2011

April 18, 2011April 30, 2011

Finolex Cables Ltd and Corning Incorporated have executed an agreement to establish a 50/50 equity venture to market select telecommunication products in India. The venture is expected to be incorporated this year....

JSW to buy Ispat to become India’s largest steel producer

wirecableApril 18, 2011April 30, 2011

April 18, 2011April 30, 2011

Sajjan Jindal-led JSW Steel said it will buy controlling interest in Ispat Industries at an enterprise value of $3 billion to emerge as India’s largest producer of the commodity with an annual capacity of 14.3 million tonnes. As per the terms of the deal, debt-stricken Ispat will issue preferential shares......

Ramsarup to restructure Rs1,800 crore debt

wirecableApril 18, 2011April 30, 2011

April 18, 2011April 30, 2011

Ramsarup Industries, wire and TMT bar manufacturer, is going for corporate debt restructuring (CDR) to attract private equity (PE) investment. The company currently has Rs 1,800 crore debt in its books out of which 95% has been put under the CDR mechanism. The total debt is unevenly distributed among a......

RINL aiming at raising capacity

wirecableApril 18, 2011April 30, 2011

April 18, 2011April 30, 2011

Rashtriya IspatNigam Ltd (RINL) is aiming at raising its capacity to 11 mtpa by 2015 from 3 mtpa now and initiating steps to set up plants in four states including Orissa and has pumped in about Rs 50000 crore for expansion and modernization. “The company has embarked upon expansion and......

Leoni starts production in India

wirecableApril 18, 2011April 30, 2011

April 18, 2011April 30, 2011

Leoni, the leading supplier of cables and cable system to the automotive sector and other industries, has established a wiring systems manufacturing facility near Pune in India and has commenced supply of diesel engine harnesses to Tata Cummins. By 2012 the group of companies thereof expects annual sales of double......

Prysmian- Ravin JV to target 10% market share in India’s cables sector

wirecableApril 18, 2011April 30, 2011

April 18, 2011April 30, 2011

• Focus on high-tech cables for utilities and industrial sectors • New organisational structure in place: Luigi Sarogni appointed CEO and Vijay Karia, Chairman & Managing Director Prysmian a leading worldwide player in the energy and telecommunications cables industry, and Ravin Cables Ltd, its Indian JV subsidiary, presented their development......