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Monnet Ispat & Energy Ltd. Company History and Annual Growth Details

Monnet Ispat Ltd. (MIL) was incorporated on February 1, 1990 in the State of West Bengal and subsequently the registered office of the Company was shifted from Calcutta in the State of West Bengal to Union Territory of Delhi vide CLB Order No.CLB/ERB/CAL/4(109)92 dated 13.01.93 and which was registered by Registrar of Companies Delhi & Haryana on 19.01.93 and obtained the Certificate of Commencement of Business on 8th February, 1990; MIL is setting up a 1,00,000 tpa Sponge Iron Project at Village Kurud, Dist. Raipur, Madhya Pradesh.

MIL has been promoted jointly by Mr. Sandeep Jajodia and Jindal Strips Limited for setting up a project for the manufacture of Sponge Iron at village Kurud, District Raipur, Madhya Pradesh, Jindal Strips Ltd (JSL) are providing technical know how for the project.

Jindal Strips Ltd (JSL), is the flagship company of the Jindal group and is an existing, listed and highly profitable company. With an annual turnover of over Rs 450 crore, JSL is one of the leaders in the Steel Industry in India. Their products include stainless Steel, Ferro Chrome, Cold Rolled Steel, Sponge Iron, etc.

JSL developed indigenously, the technology to manufacture Sponge Iron using the non-coking coal route and are setting up manufacturing facility at Raigarh, Madhya Pradesh, with a total capacity of 6,00,000 tpa of Sponge Iron. A capacity of 2,00,000 tpa of Sponge Iron has already been installed with satisfactory results.

-Monnet Ispat Board approves merger of Monnet Power Ltd with the company

-Monnet Ispat Board approves Preferential Allotment

2006

-Monnet Ispat changes name to Monnet Ispat and Energy Ltd