[ Industry Update ]
[ Industry Update ]
SMS group : major contract with Qinghai Xigang to building public-private partnership ( PPP ) projects for key ports totalling INR 50,000 crore over the next five years . The budget has also allocated INR 10.7 lakh crore in capital expenditure for infrastructure ministries to modernize transport corridors , expand port capacities , and integrate multi-modal logistics networks . Additionally , the launch of the INR 25,000 crore Maritime Development Fund aims to provide long-term financing for the shipping sector , which will directly benefit stainless steel consumption in shipbuilding and port infrastructure . The budget also emphasizes urban transformation , with a INR 1 lakh crore Urban Challenge Fund that will support smart cities , metro projects , and resilient infrastructure .
SMS group has signed a major contract with Qinghai Xigang New Materials Co ., Ltd . The order comprises a comprehensive upgrade and related maintenance services for the PSM380 ( Precision Sizing Mill ) mill used to roll special steel bars , and is aimed at enhancing the mill ’ s production efficiency and product quality . Once implemented , the upgraded mill is expected to improve the products ’ dimensional accuracy and effectively reduce labour costs in downstream processing stages . Additionally , process adjustments will be made to ensure that the mill meets the production demands of more diversified steel grades , particularly a better microstructure and higher quality standards in low-temperature rolling processes .
Outokumpu study on emerging nuclear technology
Synergy Steels applauds the Union Budget 2025-26
Synergy Steels lauds India ’ s Union Budget 2025-26 , as it places high priority on infrastructure expansion and logistics efficiency , both critical for strengthening India ’ s stainless steel sector . It is expected that the government ’ s commitment
Outokumpu has been investigating the opportunity to enhance low-carbon energy availability with emerging nuclear technology . As part of this work , the company has conducted a feasibility study to evaluate the possibility to build a small modular reactor ( SMR ) near the company ’ s major stainless steel plant in Tornio , Finland . The study confirms the project ’ s feasibility with no significant obstacles to building an SMR . Outokumpu is now seeking external parties interested in investing in the project and developing it further independently .
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