Home  »  Company  »  MSP Steel & Power Ltd.  »  Quotes  »  Company History
Enter the first few characters of Company and click 'Go'

MSP Steel & Power Ltd. Company History and Annual Growth Details

MSP Group is one of the leading steel manufacturers in the secondary
sector in Eastern India. The Group has multiplied its business
operations in terms of sales and production by setting up different
projects in the steel sector and industrial gases in West Bengal,
Orissa, Chattishgarh and Jharkhand. The group turnover was in excess of
Rs. 25000 lacs during the year ended March 2005.

A snapshot of the Group's current manufacturing capacities is as
follows:

Howrah Gases Limited: 60,000 TPA Sponge Iron unit at Ranigunj, W.B.,
36000 TPA Induction furnace and 120 M3 per hr of industrial oxygen at
Burdwan, W.B.

Ashirwad Steels Ltd: 45,000 TPA and 60,000 TPA Sponge Iron Units at
Jamshedpur and Hyderabad respectively and 32800 TPA of LPG Bottling
Plants at Uluberia and Raigarh.

MSP Sponge Iron Limited: A Sponge Iron-manufacturing unit with a
capacity of 60,000 TPA at Keonjhar, Orissa.

MSP Steels Private Limited: 50,000 TPA Induction furnace and 36,000 TPA
Re-rolling mills at Keonjhar, Orissa.

MSP Rolling Mills (P) Ltd: 24,000 TPA Re-Rolling Mill at Howrah, WB.

Rama Alloys Private Limited: 90m3 Per hr of Industrial Oxygen.

In view of the experience of running a secondary steel plant and
industrial gases unit successfully, the MSP Group now proposes to put
up an integrated steel complex at Jamgaon, Raigarh, Chhattishgarh. The
process route selected for the manufacture of steel via the Sponge Iron
Plant-Induction Furnace-Continuous casting - TMT Bars and Wire rods
with major power supplied through a captive source would ensure
efficient production.

The iron ore would be sourced from Barbil mines, which is approximately
260 kms from Jamgaon. It is planning to source complete non-coking coal
from the mines located at approximately 50-60 kms from the proposed
project site.

Brief History of the Company

The company was incorporated as Adhunik Rollers Pvt. Ltd., having its
registered office at 1, Crooked Lane, Kolkata-700 001 West Bengal on
18.11.1968. The name of the Company was changed to MSP Steel & Power
Private Limited on March, 2003. The company subsequently became a
public company under the name of MSP Steel & Power Limited with effect
from 9th September 2003.

Present Activities

The company is currently involved in manufacturing of sponge iron and
trading of steel products.

MAJOR EVENTS IN THE HISTORY OF THE COMPANY

Capacity/facility creation, location of plant, etc

The company has proposed to set up an Integrated Steel plant with a
capacity to manufacture 192000 M.T. p.a. of Sponge Iron through two
kilns of 300 tonnes capacity each, 2 Nos. 96,000 Tonnes per annum along
with 36 Tonnes per hour waste heat recovery boiler, 16 Mega Watt
Captive Power Plant, 95,109 tonnes per annum Steel Melt Shop comprising
of 3 nos., 12 tonnes Induction Furnaces and 1 No. 2 Strand Billet
Caster and 80,000 Tonnes per annum Re-Rolling Mill.

The project shall be located at the address below:

Location of the Project

Plant Site City Office

MSP Steel & Power Limited MSP Steel & Power Limited
Village & P.O. Jamgaon Hari Bhavan,
District Raigarh Near Pahar Mandir,
Chattissgarh - 496001 Raigarh Chattisgarh
Phone: +91 7762 26449/50/51/52/53 Phone + 91 7762 226532
Fax : + 91 7762226533

The Company has started producing sponge iron from Kiln I which
commenced production from 4th November 2004.

Apart from the above Integrated Steel project the Company is also
setting up the following Ancillary Projects to aid the Integrated Steet
Project.

1. Coal Washery Plant with capacity of 576000 TPA.

2. Expansion of Power Plant from existing 16MW to 24MW by addition of
further 8MW

3. Private Railway Siding of 2.4 Kms at the project premise.

Products

The company was earlier engaged in production of Katha an ingredient
used in the preparation of readymade betals. The raw materials for the
manufacture of katha is wood and owing to scarcity of the same the
production of katha has been discontinued.

The Company at present produces sponge iron and minorly trades in MS
rods and oxygen cylinders and other steel products.

Competitive conditions, Marketing etc

The company has a competitive edge over competitors due to the
following reasons:

* Capacities to meet demand
* Quality of the final product
* Market reputation of the promoters

Defaults/Re-Schedulement with Banks and Institutions

The company has neither defaulted nor has there been any reschedulement
with Financial Institutions/Banks, conversion of loans into equity.
There has been no event in the company such as strikes, lock outs etc.

Location of the company

The Registered Office of the company is located at 1, Crooked Lane,
Kolkata 700 069 and corporate office is located at 16/S, Block A, 2nd
Floor, New Alipore, Kolkata - 700 053.

2007

- MSP Steel & Power signs MOU with Government of Chhattisgarh.

2008

- MSP Steel & Power Ltd has appointed Mr. Debabrata Mukherjee (Ex-Managing Director Durgapur Steel Plant) as Non Executive Independent director of the Company in the Board Meeting.

2010

-Started operation of its 115500 MTPA of Sponge Iron Plant and 18 MW Power Plant

-Mr. P. K. Gupta has been appointed as Independent director of the company

2011

-MSP Steel has recommended 6 % dividend on Preference share capital & final dividend of Rs. 0.50 (Fifty Paisa) per equity share.

2012

-MSP STEEL & POWER LTD had won the TIMES OF INDIA Award for Innovative Talent Management & Succession Planning for the year 2012.

-Mr. Ashok Soin has been appointed as Independent director of the company

2013
-HR Excellence Award 2013.
-Hon'ble Managing Director, Shri Suresh Kumar Agrawal was awarded the trophy of " The Best Industrialist "
-Genius HR Excellence Award.

2014
- Ms. Ruchi Garg has been appointed as the Company Secretary and Compliance Officer of the Company.

Find IFSC