Sesa Goa

YEAR                                                    EVENTS
 1965 - With the application of the Companies Act 1956, to Goa, it
 was
               incorporated under the Act on 25th June, as a Private
 Limited
              Company under the name Sesa Goa Pvt. Ltd.  It was wholly
 owned
              subsidiary of Istututo per la Recostruzion Industriale,
 an
              Italian Govt. controlled company.
 
 1978 - 14,000 Bonus shares issued in prop. 2:3.
 
 1979 - In April, another wholly owned subsidiary of Finsider S.P.A.,
             Italy was also engaged in the mining and export of iron
 ore.
             Mingoa Pvt. Ltd., was amalgamated with the company.  As
 per the
             Scheme of Amalgamation, 38,500 No. of equity shares of Rs
 500
             each were allotted to Finsider S.P.A., Italy without
 payment in
             cash.
 
 1981 - The Company was converted into a public limited company on
 25th
              March.
 
            - During November, Finsider S.P.A., Italy offered for sale
 out of
               its holding in the Company 22,05,000 No. of equity
 shares of Rs
               10 each at a premium of Rs 2.50 per share in the
 following
               manner: (i) 1,83,750 shares reserved for firm allotment
 to public
               financial institutions, (ii) 1,83,750 shares reserved
 for firm
               allotment to the business associates and employees of
 the Company
               and (iii) 18,37,500 shares to the public.
 
 1984 - A beneficiation plant with a throughput capacity of 15 lakhs
             tonnes was being set up in two stages to improve the
 quality and
             marketability of the ore.
 
 1986 - The first phase of the beneficiation plant and with a
 capacity
              of 7.5 lakh tonnes per year, was commissioned in
 January.
 
           - The Company decided to enter a new area of activity of
              information systems and services in collaboration with
 STET, the
              financial holding for electronics in the IRI Group.
 
           - 14,70,000 Bonus shares issued in prop. 2:5.
 
 1987 - The ship building division suffered a setback due to labour
              problems with subcontractors resulting in delay in the
 completion
              of some of the vessels.
 
           - The Ship building division proposed to carry out a
 programme of
              phased investment to upgrade the shipyard's
 technological
              capability as also to increase its capacity.
 
           - The Company obtained initial registration for the
 manufacture of
              60,000 tonnes of low phos pig iron at Navelim near
 Sanquelim in
              Goa.
 
            - The Company obtained the necessary pollution clearance
 for the
               project and a final technological evaluation of the
 project was
               undertaken to maximise operational efficiencies in
 future.
 
            - A biotech pilot plant was set up in the mines for the
 treatment
              of tailing waste with micro organisms which feed on the
              mangniferous clay.
 
            - Along with indigenous stern gear, particularly the
 fishing of
              marine propellers, a separator tank capable of
 efficiently
              recovering iron ore fines from cyclone under-flows was
 developed.
 
            - Approval from Govt. was received for technology
 agreement for
              manufacture of a sophisticated fishing trawler based on
 drawings
              from a Norwegian Company and Technical collaboration
 with
              Fincantieri of Italy, member of the IRI group was
 entered into
              for the technological upgradation of the shipyard.
 
 1988 - Sesa Seat Information Systems Pvt. Ltd., was incorporated in
             January, as a subsidiary of the Company.  Effective 29th
 March,
             1993, the Company ceased to be a subsidiary of the
 company.
 
 1989 - The Company laid the foundation stone of the project to
              manufacture 1,50,000 tonnes per year of low phosphorus
 pig iron
              at Amona near Sanquelim in Goa.
 
 1990 - On 11th January, the Company issued 6,48,270-12.5% secured
 partly
             convertible debentures of Rs 110 each.  Of these,
 6,17,400
             debentures were offered to the equity shareholders on
 rights
             basis in the ratio of 1 debenture: 5 equity shares (all
 were
             taken up) and 30,870 debentures offered to the employees
 of the
             Company (all were taken up).
 
          - The convertible portion of Rs 60 per debenture was
 converted into
             2 equity shares of Rs 10 each, at a premium of Rs 20 per
 share on
             1st February, 1992.
 
           - The amount of Rs 50 representing the non-convertible
 portion will
              be redeemed in 3 instalments of Rs 15, Rs 15 and Rs 20
 at the
              expiry of the 6th, 7th and 8th year respectively from
 the date of
              allotment.
 
            - With a view to manufacturing indigenous coke, the
 Company in
              collaboration with Kembla Coal & Coke Pvt. Ltd.,
 Australia set
              up Sesa Kembla Coke Co. Pvt. Ltd., Kembla Coal & Coke
 Pvt. Ltd.,
              Australia is to participate to the extent of 40% in the
 share
              capital of the new venture through its subsidiary Kembla
 Goa
              holdings Ltd.
 
 1991 - 12,96,540 No. of equity shares allotted (prem. Rs 20 per
 share)
              in conversion of debs.  Another 8,64,360 No. of equity
 shares
              (prem. Rs 20 per share) allotted to Finalder
 international S.A.
              Luxembourg to maintain their equity stake in this
 company at the
              existing level.
 
 1992 - The pig iron plant was commissioned.  A new Company in the
 name
              of Sesa Industries Ltd., was set up for implementing
 expansion
              and diversification plans in the steel related areas.
 
           - The Sesa Industries Ltd., set up a second pig iron plant
 with a
             capacity of 90,000 TPA of pig iron.  It was proposed to
 make a
             preferential issue of its equity shares (prem. Rs 12.50
 per
             share) to the shareholders of Sesa Goa Ltd., in the ratio
 of 1:2.
 
 1993 - Two 2500 tonnes barges and ten small steel boats were
 delivered
              by the shipbuilding division.
 
            - 73,05,900 bonus shares allotted in prop. 1:1.  32,80,220
 No. of
              equity shares (prem. Rs 50) allotted to Finalder
 International
              Co. Ltd. to maintain their stake at 51%.
 
 1994 - Second blast furnace was commissioned in the pig iron plant
 of
              Sesa Industries.
 
 1995 - 17,89,200 rights shares issued (prop. 1:10 prem. Rs 90).  Of
              these 47,613 shares were kept in abeyance.
 
 1996 - During 7th, November, there was an amalgamation of the 100%
              subsidiary, Sesa Shipping Ltd. with Sesa Goa Ltd.
 
           - The Company owns 21 mining concessions.  These mining
 concessions
              were granted to the Company under the Portuguese Law
 according to 
              which they are to run in perpetuity so long as the terms
 of the
              concessions are complied with.
 
            - Appropriate agreement was been reached whereby shares
 of
              Australian collaborators were taken over by the company
 making
              Sesa Kembla Coke Company a 100% subsidiary.  Sesa
 Industries Ltd.
              is a subsidiary of the Company.
 
           - 44,898 shares issued kept in abeyance in the rights
 issue.
 
 1997 - The Company installed a plant for the recovery of pellet feed
              from the tailings through high intensity magnetic
 separating
              process at Codli Mines.
 
           - 2,525 shares kept in abeyance issued.
 
          - The company manufacturers 1.8 lac tonnes of pig iron
 through a
            subsidiary and producers metallurgical coke through a
 joint
            venture with Kembla Coal and Coke, an Australian company.
 
          - The company, it has become a subsidiary of Mitsui, with
 two
             Mitsui directors now on the board.
 
           - Sesa Goa Ltd. is learnt to be all set to acquire the
 entire
             equity holding of its Australian collaborator, Kembla
 Goa
             Holdings Ltd, Mauritius, in Sesa Kembla Coke Company Ltd
             (SKCCL), a subsidiary of Sesa Goa.
 
           - Sesa would also be supplying hot metal to the proposed
 Teksid
              plant, a subsidiary of Fiat, being set up here.
 
 1998 - Sesa Goa became part of the Mitsui family after the latter
 took
             over Finsider International of Italy a couple of years
 ago.
 
 1999 - The company has acquired Narrain Mines, Karnataka, to shield
               itself from any price increase or variation in the
 quality of
               iron ore.
 
            - Sesa Goa is entered into a technical collaboration with
 Vaagen
              Verft, Norway, to manufacture fishing transfers.
 
 2000 - The Company has closed down its Engineering Unit at Sirsaim
 and its
              workshop at Sanquelim with effect from September 19.
 
            - The company has introduced Voluntary Retirement Scheme
 during the year
               to restructure the organisation.
 
 2002
 
 -Sesa Goa Ltd informs  that the Board of Directors of the Company
 have accepted the withdrawal of nomination of Dr K S Subramanian as
 Director by ICICI Ltd and 
 Mr K R V Subramanian has been appointed as an Additional Director of
 the Company 
 w e f May 22, 2002.
 
 2003
 
 -The Board of Directors of Sesa Goa Ltd at its meeting held today
 (January 29, 2003) has appointed Mr Leonard Anthony Dean, as Managing
 Director of the company wef April 01, 2003 in place of C M Brown whose
 term expires on March 31, 2003.
 
 -Receives Iron ore supply order from Pakistan Steel Mills for next 5
 years.