Two PSUs are in the green zone. They are Central Coalfields Ltd and Bokaro Steel Ltd.
Records show that the CCL In 2017-18 had contributed to the State treasury as much as Rs. 1926 crore. Now, this PSU aims to contribute Rs. 2250 crore in the Financial year 2018-19.
Says CCL CMD, Gopal Singh: "In 2017-18 our contribution to the State treasury was Rs. 1926 crore and we were felicitated by the Income Tax department for being the highest corporate taxpayer in 2017-18. This year we are hoping that our contribution will increase further."
Similarly, setting records in production, BSL has made a remarkable return by bringing an overall improvement in its performance level in the year 2018.
In the first half of the fiscal year 2018-19, BSL set the record of best crude steel, HR and CR coil production while in the second quarter this PSU established a record of production of CR saleable steel including the best quarterly production record of Crude Steel from SMS-2.
Even coke oven gas line has been charged under the alternate gas pipeline project."This project is expected to be completed by end of 2019,” said a BSL manager.
Another positive side is that the Vedanta Star Limited, a subsidiary of Vedanta, has a plan to set up another new steel unit in Jharkhand. Under the brownfield project, a 4.5 MT steel unit is proposed to come up at Bokaro, it is learnt.
The Chairman of Vedanta Resonance Anil Agarwal recently announced that with an estimated investment of 3-4 billion USD the new unit will come up on the recently acquired land of Electro Steel Limited (ESL) at Bokaro.
As it is, Vedanta took the full control of debt-ridden Electrosteel Plant (ESL) at Siyaljori in Bokaro in June 2018. Right now this unit is 1.5 million tonnes steel plant. It is designed and built by the Chinese steel major Laiwu Steel Group Limited (LSGL).
This plant is based on Blast Furnace (BF)-Basic Oxygen Furnace (BOF)-Billet Caster and Hot Rolling Route. It plans to produce 1.2 MTPA of long steel products, comprising 0.5 MTPA of 5.5-12.0 mm diameter wire rods in coil form and 0.7 MTPA of reinforcement bars in straight lengths and bundled in the range of 8-32 mm and plain rounds up to 60 mm diameter.
"These growing industrial climate has won the heart of the Union Industry Ministry and the Narendra Modi government officials are proud of these PSUs as well as private company Vedanta", said a senior advisor to GoI.--------------------------Advertisement--------------------------