HSCL signs MOU with INSDAG
Hindustan Steelworks Construction Ltd (HSCL) is signing a MOU with Institute for Steel Development and Growth (INSDAG) tomorrow. HSCL is in the business of undertaking contracts for fabrication and diverse type of construction activities having their own fabrication unit and project execution teams for taking up turnkey works in the housing, infrastructure,power,roads and bridges and other major growing industries HSCL is in a position to offer support and wishes to collaborate with INSDAG as their exclusive partner for supporting them in their efforts of undertaking and executing such projects.
INSDAG is involved in the activities of promotion of use of steel in various industrial and all other possible applications. They are a recognized institute in the steel sector and have as its sponsors all the premier steel manufacturing companies in India. They wish to enter the business of executing various steel based construction projects in the field of housing, infrastructure, power, refineries, oilfield, military and other major growing industries in order to propagate the use and application of steel in cost effective and efficient manner.
This is the third important MOU being signed by HSCL. HSCL has earlier signed an MOU with UZINEXPORT S.A., Romania, a company incorporated under the laws of Romania for co-operation to develop business and execute contracts for steel plants, power plant and other projects in India. UNIEXPORT S. A. has been active in Indian industrial field for more then 30 years in supply equipment and spares for steel, power and cement plants. UINIEXPORT S. A. will assist HSCL by providing engineering, supply of critical equipment and supervision for erection and commissioning of various plant especially for Sintering Plant, Pallet Plant, Cement Plant and accessories for Rolling Mill equipment like automation system etc. The MOU has been signed by Sri Malay Chatterjee, CMD, HSCL and Sri M. Nicolaide, President and CEO, UZINEXPORT S. A., Romania.
The company had earlier signed MOU with PowerCem Technologies of Netherlands for introduction of cost effective products for road making in India.
HSCL is justly proud to be one among the three leading PSU’s selected by the Govt. of India for the low Cost Housing Project to be implemented under Ministry of Exrernal Affairs in Sri Lanka. Govt of India has a commitment to construct/repair 50,000 low cost Housing in Sri lanka for resettlement of the Internally Displaced Persons (IDP’s) . Out of the proposed 15000 Agency driven new houses preliminarily 5000 has been planned for dwelling purposes of plantation workers. HSCL has been working on details for 5000 houses. The volume of business for HSCL at Sri Lanka is estimated at Rs 400 crore in the first phase of implementation.
HSCL has the proud privilege of participating in the Bharat Nirman Programme of Govt. of India in North Eastern State of Tripura and Jharkhand under PMGSY. HSCL has been awarded 2100 k.m. of rural roads. HSCL has been working as a Project Implementation Unit there with the responsibility starting from preparation of DPR to the maintenance of roads for five years after construction. HSCL expects that this 2100 k.m will go up shortly to 3000 k.m. HSCL has also pitched for similar works in Uttarakhand and Orissa Which would materialize in the coming month.
In the steel sector HSCL has got back it’s lost glory. The steel plant at Bhilai awarded sizeable work to private parties. But they were so disappointed with their performance that they had to re-tender and now appointing HSCL for these works under the capacity expansion programme. It is a major breakthrough towards the cability of PSU’s over private companies bestowing confidence and faith.
In the Infrastructure, HSCL is currently executing major projects in the Power Plant at Anpara, Railway embankments with bridges and workshops, School Building projects of K V S, NVS and other Building and Commercial Complexes under PSU’s. The Company has also successfully ventured in to high value disaster management project of Kosi and River Training project of Bagmati in Bihar under Water Resources Department for which it has received accolades.
In Real Estate sector HSCL has recently acquired five acres of land in Rajarhat and one acre in Mohali, Chandigarh. In these lands Office Complexes and Residential Complexes would be built. In Sitapur Industrial Area in Jaipur the company is on the process of acquiring 43000 sq meters from Instrumentation India and has been the highest bidder there. In Bahadurgar, Sector Vll, Haryana HSCL has given offer to IOC for buying 5acres of land for promoting Housing for the Target group. By the next quarter HSCL would take major steps as a Realtor company and aspire to contribute substancially in its profitability.
In Gulbarga, Karnataka HSCL has got a whopping order of nearly 900 crores from ESIC for a Dental College and Hospital Complex. The work is going on schedule. On the basis of its performance in Gulbargs ESIC has awarded three hospitals and one auditorium in Karnataka in favour of HSCL.
The past performance of HSCL during the past five years definitely deserves specific mention:
CAGR achieved in Turnover during the last five years is 22.98 %
CAGR achieved in Order Booking during last five years is 24.58%
CAGR achieved in Operational Profit during last five years is 22.22% The growth rate has been much more then the overall industrial growth rate of the country. During current s year the company a once ailing company is confident to achieve a turnover of more then 1000 crores with a profit of more then 80 crores.
In recognition to the excellent and commendable work towards implementation of Official Language by HSCL, Hon’ble Steel Minister Sri Virbhadra Singh awarded Ispat Rajbhasa Trophy to Sri Malay Chatterjee, CMD, HSCL.
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