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MSP Steel & Power
BSE: 532650|NSE: MSPL|ISIN: INE752G01015|SECTOR: Steel - Sponge Iron
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Company History - MSP Steel & Power
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
Source : Dion Global Solutions Limited
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