YEAR EVENTS 1979 - The Company was incorporated as a Public Limited Company on 9th April, 1979. The Company was promoted in the joint sector by the Industrial Promotion & Investment Corporation of Orissa Ltd. and Torsteel Research Foundation India (TRFI). - The main objective of the company is to manufacture sponge iron. - The Company entered into four separate agreements with Allis-Chalmers Corporation, U.S.A. relating to (i) supply of certain equipment including, process equipment (which pertains to the main plant) and materials, (ii) rendering of technical services outside India including supply of certain specified documents, drawings, information and data (iii) rendering of advisory and other services in India pertaining to erection, installation, start-up and operations of the Company's plant and (iv) grant of patent rights to the Company. - Sponge iron is produced by removing most of the oxygen in the iron ore, without resorting to melting. Sponge iron will be produced both in lumps and briquettes. It can be used in electrical furnace together with scrap for making steel and in industrial furnace together with pig iron to make ductile iron and other high quality castings. 1980 - 70 shares subscribed for by the signatories to the Memorandum of Association; 12,00,000 shares taken up by Torsteel Research Foundation in India (TRF); 18,59,930 shares allotted to industrial Promotion & Investment Corporation of Orissa, Ltd. (IPICOL) and 6,00,000 shares issued to Allis-Chalmers Corporation, U.S.A., 23,40,000 shares offered at par for public subscription during November 1980. 1985 - The Company revalued its factory building and plant and machinery as on 31st March. - A number of TRFI licensees joined hand with TRFI for setting up the Company's project. They are Mukand Iron & Steel Works, Ltd., Usha Alloys & Steels, Ltd., Rathi Alloys Steels, Pvt. Ltd., Mahindra Ugine Steel Co., Ltd., Shri Ishar Alloy Steels, Pvt. Ltd., Rathi Ispat, Ltd., Surendra Industries (Mumbai), Pvt. Ltd., Bhoruka Steel, Ltd., Bhagwan Industries, Ltd., Star Steel Pvt. Ltd., Western Rolling Mills Pvt. Ltd., Agarwal Hardware Works Pvt. Ltd., Orient Steel & Industries, Ltd. 1991 - During the year, an order was received to assist Sunflag Iron & Steel, Ltd. for improving their process technology to achieve lesser carbon consumption, lesser off grade production and lesser kiln accretion. - The Company proposed to associate with a joint effort with the State Government, Central Govt., TRFI and others to promote a venture for processing fruits and vegetables grown around the plant site areas and districts, primarily for export purposes. - The Company also associated in assisting the promotion of a large pig iron unit in Orissa from where it hoped to get sufficient hot meal to blend with its own sponge to make billets. 1994 - Production of sponge iron was restricted to 93,707 tonnes due to unforeseen breakdown of the thrust roller supporting the kiln in January, 1995 leading to loss of production for about 3 weeks. - The Company's 65,000 TPA steel billet project was implemented and commercial production commenced from 15th March, 1995. - The Company undertook to install an additional kiln with a capacity of 1,50,000 tpa of sponge iron taking the total to 2,50,000 tpa. This would be taken up along with commissioning of the BANSPANI-DAITARI rail link expected by 2002. - The Company undertok to set up a 100% EOU for manufacture of tomato paste, mango concentrate, papaya concentrate and guava pulp in association with Orissa Agro Industries Corporation Ltd. - The Company undertook to set up a one million tonne capacity iron & steel project in association with State Government. - 12,37,958 No. of Equity shares allotted as conversion of loans to promoters at a premium of Rs 5 per share. 1995 - The Company proposed its second phase of expansion for setting up 9 MW power plant using waste heat of the kiln. - The Company undertook to set up a separate company together with an international company for manufacture of steel billets at Patna, Bamra, district Sambalpur, Orissa through sponge iron waste heat and waste coal power - electric furnace and continuous caster route. The project envisages setting up a project to manufacture light sections in a rolling mill complex with an installed capacity of 3,00,000 tpa. - 36,18,979 Rights equity shares issued (Prop. 1:2; prem. Rs 10). Of these 35,975 shares kept in abeyance. 1996 - The sponge iron plant suffered an accident due to failure of an imported thrust roller, leading to plant closure for 20 days. 1997 - The Company also intends to install an additional kiln with a capacity of 150.000 tonnes of Sponge Iron Production per year taking the total capacity to 2,50,000 tonnes per year. - The Company intends to promote a separate Company in association with a reputed international Company to set up an Iron and Steel Complex at Bamra in stages in the district of Sambalpur, Orissa. - The proposal envisages setting up a project for manufacture of light sections in a rolling mill complex with an installed capacity of 300000 tonnes per annum. 1998 - Bilati (Orissa) Limited, a fruit and vegetable processing Export Oriented Unit promoted by the Company has been successfully commissioned. - Company intends to set up a 10 MW power generating unit using waste heat from the reactor for captive consumption of the sponge iron and billet units. 1999 - The Company had approached Grid Corporation of Orissa Ltd. to allow the Company to avail power during off-peak hour at a concessional rate which is receiving their consideration. 2006 -Company has changed its name from Orissa Sponge Iron Ltd. to Orissa Sponge Iron And Steel Ltd. 2007 -Orissa Sponge Iron & Steel Ltd has appointed Mr. Munir Mohanty as an Additional Director of the Company. 2009 - Orissa Sponge Iron & Steel Ltd has informed that the Board of Directors of the Company at its meeting held on July 30, 2009, have appointed Mr. Hemant Sharma, IAS as Chairman cum Director of the Company as a nominee of Industrial Promotion and Investment Corporation of Orissa Ltd (IPICOL) in place of Mr. A K K Meena, IAS. 2010 - Orissa Sponge Iron & Steel Ltd has appointed Mr. B. K. Sarkar as an "Additional Director" with immediate effect.He will be an "Independent Director" on the Board. 2011 -Mr. S. N. Nayak has been appointed as Director of the company 2012 -Mr. P C Mohanty has been appointed as General Manager (P & A) of the company -Mr. A. K. Mukherjee was appointed as an Additional Director on the Board of the company 2013 -Mr. G. Mathi Vathanan has been appointed as Chairman-cum-Managing Director of the company 2023 -OSISL was the first energy recovery based power project funded by IREDA of the Ministry of non Conventional Energy. OSISL's 10 MW waste heat Power project is registered by UNFCCC as a CDM Project. OSISL has received many awards at the national level like Bharat Samman , "DESHARATNA award" VISWESHSWARAYA award, Dhatu Nayak Award , Ispat Udyog Ratan Award and many other safety awards.