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.