JSW Ispat Steel

JSW Steel coated products limited
Public company
Traded as BSE: 500305
NSE: ISPATIND
Industry Steel
Founded 1984
Headquarters Kalmeshwar,dist nagpur India
Key people
 Sajjan Jindal (Chairman), B.K Singh (Chief executive officer)
Products Sponge iron, Hot Rolled Coils, Cold Rolled Coils, Galvanized Sheets/ Coils, Colour Coated Sheets
Revenue Increase ₹105786.9 million (US$1.6 billion) (2010)[1]
Decrease ₹-3223.4 million (US$−47 million)
Number of employees
 3,000 (2008)
Parent Jindal South West, JSW Group
Website www.ispatind.com

JSW Ispat Steel Ltd (JISL) (BSE: 500305, NSE: ISPATIND) was set up as Nippon Denro Ispat Limited in May 1984 by founding chairman Mr M L Mittal.[2] The company have operations in iron, steel, mining, energy and infrastructure. It has two integrated steel plants, located at Dolvi and Kalmeshwar in the state of Maharashtra. The 1,200 acres (4.9 km2) Dolvi complex houses the 3 million tonne per annum hot rolled coils plant, which combines the latest technologies – the Conarc process for steel making and the compact strip process (CSP) – introduced in Asia. The company is listed on Bombay Stock Exchange and National Stock Exchange of India. It is headquartered at Mumbai and employs about 3000 people. Ispat Industries was ranked 5th among major next to Tata steel and JSW steel companies in India for the year 2008 by Business World.[3]

History

Nippon Denro Ispat Limited was incorporated in 1984[4] and was granted the first Industrial License by Government of India for manufacturing Galvanised Plain/Corrugated Sheets. IIL was set up as a cold rolling reversing mill, in collaboration with Hitachi Ltd. of Japan, to manufacture a wide range of cold rolled carbon steel strips. In 1988 it installed a color coating line and was granted Industrial License for Cold Rolled Sheets. In 1994 Business interests within the Group were demarcated. The eldest son, Mr. L N Mittal continued managing the international operations while Mr. Pramod Mittal and Mr. Vinod Mittal, the younger brothers focused on steel and other businesses in India. In 1994, it commissioned the world's largest gas-based single mega module plant for manufacturing direct reduced iron (sponge iron), at its Maharashtra-based Dolvi plant. In 1995 hot strip mill with Continuous Strip Processing (CSP) technology was installed at Dolvi. In 1998, integrated steel plant for the production of hot rolled coils was launched, using technologies such as the Conarc Process for steel making and the Compact Strip Process. Year 2000 saw the erection and commissioning of a 2 MTPA blast furnace at the Dolvi steel complex. Sponge iron capacity was increased from 1.2 MTPA to 1.4 MTPA in the year 2003. Year 2004 saw the increase in capacity of Hot rolled coil from 1.5 MTPA to 2.4 MTPA and Sponge iron from 1.4 MTPA to 1.6 MTPA.

Major units

1. Integrated Steel Plant at Dolvi, Maharashtra The Dolvi complex has a captive port located close to it on the Amba River, which opens into the Arabian Sea. This port can handle barges and mini-bulk carriers up to 4000 dry weight tonnage (DWT). Moreover, a jetty adjoining the complex is capable of handling cargo of up to 10 million tonnes per annum.

2. Integrated Steel Plant at Kalmeshwar, Maharashtra The integrated steel plant at Kalmeshwar uses the latest steel manufacturing technology to produce galvanised sheets and products, apart from cold rolled coils. The Kalmeshwar complex houses a total of three advanced plants – a 0.325 million tonnes Galvanized Plain/Galvanized Corrugated plant, a 0.33 million tonne Cold Rolled Coils plant and a 60,000 tonne Colour Coated Sheets plant.

Takeover by JSW Steel

On 21 December 2010 it was declared that JSW Steel will buy controlling interest in Ispat Industries at an enterprise value of $3 billion to emerge as India's largest private producer of the steel with an annual capacity of 14.3 million tonnes. On April 2013, the complete merger of JSW Steel and JSW Ispat steel has been completed.

References

  1. ↑ http://www.bseindia.com/bseplus/StockReach/AdvanceStockReach.aspx?scripcode=500305
  2. ↑ "Welcome to ISPAT Industries Limited". Ispatind.com. Retrieved 2010-10-30.
  3. ↑ "Business World Industry Rankings" (PDF). Business World. 2008.
  4. ↑ "Ispat's Mohan Mittal makes way for son". rediff.com. 12 July 2002. Retrieved 2010-07-16.

External links

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