Steel Authority of India Limited

Steel Authority of India Limited

Infobox_Company
company_name = Steel Authority of India Limited
company_
company_type = PSU (BSE: [http://www.bseindia.com/price_finder/stockreach.asp?scripcd=500113 SAIL] ) | foundation = 1954
location =
key_people = S. K. Roongta (Chairman)
industry = Steel
products =
num_employees = 131,910 (2006)
Slogan = There is a little bit of SAIL in all of us. Headquarter = Ispat Bhawan, Lodi Road, New Delhi, 110 003
revenue = 36.4 billion
homepage = http://www.sail.co.in

Steel Authority of India Limited (SAIL) is the largest steel maker in India. With a turnover of Rs. 45,555 crore, the company is among the top five highest profit earning corporates of the country. It is a public sector undertaking wholly owned by Government of India and acts like an operating company. Incorporated on January 24, 1973, SAIL has more than 131,910 employees. The company's current chairman is S.K. Roongta. With an annual production of 13.5 million metric tons, SAIL is the 16th largest steel producer in the world.

Major plants owned by SAIL are located at Bhilai, Bokaro, Durgapur, Rourkela, Burnpur (near Asansol) and Salem. SAIL is a public sector company, owned and operated by the Government of India. According to a recent survey, SAIL is one of India's fastest growing Public Sector Units.

History

1959-1973

SAIL traces its origin to the Hindustan Steel Limited (HSL) which was set up on January 19, 1954. HSL was initially designed to manage only one plant that was coming up at Rourkela. For Bhilai and Durgapur Steel Plants, the preliminary work was done by the Iron and Steel Ministry . From April 1957, the supervision and control of these two steel plants were also transferred to Hindustan Steel. The registered office was originally in New Delhi. It moved to Calcutta in July 1956, and ultimately to Ranchi in December 1959.

A new steel company, Bokaro Steel Limited, was incorporated in January 1964 to construct and operate the steel plant at Bokaro. The 1 MT phases of Bhilai and Rourkela Steel Plants were completed by the end of December 1961. The 1 MT phase of Durgapur Steel Plant was completed in January 1962 after commissioning of the Wheel and Axle plant. The crude steel production of HSL went up from .158 MT (1959-60) to 1.6 MT. The second phase of Bhilai Steel Plant was completed in September 1967 after commissioning of the Wire Rod Mill. The last unit of the 1.8 MT phase of Rourkela - the Tandem Mill - was commissioned in February 1968, and the 1.6 MT stage of Durgapur Steel Plant was completed in August 1969 after commissioning of the Furnace in SMS. Thus, with the completion of the 2.5 MT stage at Bhilai, 1.8 MT at Rourkela and 1.6 MT at Durgapur, the total crude steel production capacity of HSL was raised to 3.7 MT in 1968-69 and subsequently to 4MT in 1972-73.

1973-present

The Ministry of Steel and Mines drafted a policy statement to evolve a new model for managing industry. The policy statement was presented to the Parliament on December 2, 1972. On this basis the concept of creating a holding company to manage inputs and outputs under one umbrella was mooted. This led to the formation of Steel Authority of India Ltd. The company, incorporated on January 24, 1973 with an authorized capital of Rs. 2000 crore, was made responsible for managing five integrated steel plants at Bhilai, Bokaro, Durgapur, Rourkela and Burnpur, the Alloy Steel Plant and the Salem Steel Plant. In 1978 SAIL was restructured as an operating company.

Since its inception, SAIL has been instrumental in laying a sound infrastructure for the industrial development of the country. Besides, it has immensely contributed to the development of technical and managerial expertise. It has triggered the secondary and tertiary waves of economic growth by continuously providing the inputs for the consuming industry.

SAIL today is one of the largest industrial entities in India. Its strength has been the diversified range of quality steel products catering to the domestic, as well as the export markets and a large pool of technical and professional expertise.

Ownership and Management

The Government of India owns about 86% of SAIL's equity and retains voting control of the Company. However, SAIL, by virtue of its ` Navratna’ status, enjoys significant operational and financial autonomy

Major Units

AIL Integrated Steel Plants

# Rourkela Steel Plant (RSP) in Orissa set up with German collaboration (The first integrated steel plant in the Public Sector in India, 1955)
# Bhilai Steel Plant (BSP) in Chhattisgarh set up with Soviet collaboration (1959)
# Durgapur Steel Plant (DSP) at Durgapur, West Bengal set up with British collaboration (1965)
# Bokaro Steel Plant (BSL) in Jharkhand (1965) set up with Soviet collaboration (The Plant is hailed as the country’s first Swadeshi steel plant, built with maximum indigenous content in terms of equipment, material and know-how)
# IISCO Steel Plant (ISP) at Burnpur, West Bengal

pecial Steel Plants

# Alloy Steels Plants (ASP), Durgapur, West Bengal
# Salem Steel Plant (SSP), Tamil Nadu
# Visvesvaraya Iron and Steel Limited (VISL), at Bhadravathi, Karnataka

ubsidiaries

# Maharashtra Elektro-smelt Limited (MEL) in Maharashtra

Central Units

# Centre for Engineering and Technology
# Research and development cetre for iron and steel
# Management development Institute
# SAIL safety organization
# Raw materials division
# Central Marketing Organization
# SAIL consultancy organization [ [http://www.sail.co.in/ SAIL:- Steel Authority of India ] ]

Achievements

* SAIL was featured in the 2008 list of Forbes Global 2000 companies at position 647 [ [http://www.forbes.com/lists/2008/18/biz_2000global08_The-Global-2000_Counrty_5.html The Forbes 2000 - Forbes.com] ] .

ee also

* List of steel producers

References

External links

* [http://www.sail.co.in SAIL Home page]
* [http://finance.google.com/finance?cid=677884 SAIL page on Google]


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