History of Steel Authority of India [SAILs] Ltd.
1960
- The Alloys steel plant was installed at Durgapur in W. Bengal with Japanese assistance. The plant with an installed capacity of 1 lakh TPA of ingot steel has capacity to produce 2.60 TPA of liquid steel with modern facilities such as VAD, VOD and continuous casting. Special steels were produced such as armour plate, grade steel & many special grade alloys to meet vital and strategic needs of country in areas of nuclear energy, defence, space.
1968
- SAIL took over the management of Maharashtra Elektrosmelt Ltd. a small compact company, at Chandrapur, Maharashtra for utilising some of its facilities for R&D works as well as maximising its production of ferro manganese for use in SAIL plants. The unit produces several goods of special steels. The Company proposed to diversify into manufacture of ferro alloys, low carbon pig iron etc.
1973
- Pursuant to a decision taken by Government of India in January the Steel Authority of India, limited was formed on 24th January, as a holding Comp. for Steel & Associated input industries.
- CEDB was converted into a separate Comp. in the name of Metallurgical Engineering and Consultants [Indias], Ltd., Bolani Ores Ltd., Metal Scrap Trade Corporation & Mysore Iron and Steel Co. limited became subsidiaries of SAIL. Maharashtra Eleckrosmelt Ltd., Visvesvaraya Iron & Steel Ltd., Indian Iron and Steel Co., Ltd., IISCO-Ujjain Pipe and Foundry Co., limited are all subsidiaries of the Company.
- The Bhilai Steel Plant was set up in the late fifties at Madhya Pradesh with a capacity to manufacture 1 million TPA of ingot steel, with Russian Collaboration. The products include heavy rails, heavy structurals, squares, merchant sections besides semis like blooms & billets & pig iron for sale.
- The Durgapur Steel Plant was erected in W. Bengal in the late fiftees with British collaboration. Set up as a 1 million TPA ingot steel capacity plant, it was subsequently expanded to 1.6 million TPA in 1960. The plant is a major producer of railway materials like wheels & axles, fish plates & sleepers. It also manufactures light & medium sections, merchant sections and skelp. The plant underwent continuous expansion in stage to 1.6 million TPA of ingot steel & 1.239 million TPA of saleable steel.
- The Rourkela Steel Plant was commissioned in the late fifties with the assistance of Federal Republic of Germany. Situated in Orissa, the plant was the first of its kind of integrated steel plant in India & was designed to produce only flat products. It was the first plant to introduce basic oxygen furnace process. It also has a fertilizer plant with a capacity to produce 4,60,000 TPA of calcium ammonium nitrate.
1974
- SAIL International Ltd., was incorporated to coordinate the export & import business.
1976
- Durgapur Mishra Ispat Ltd., Bhiali Ispat Ltd., an Rourkela Ispat Ltd., were formed as fully owned subsidiaries of SAIL for taking over the running business of Alloy Steels Plants, Bhilai steel Plant & Rourkela Steel Plant on tranfer from HSL.
1978
- On 1st May, Metallurgical and Engineering Consultants [Indias], Ltd., Hindustan Steel Works Construction Ltd., National Mineral Development Corporation Ltd., Bharat Refractories Ltd., India Firebricks and Insulation Co. Ltd., & Bharat Cooking Coal Ltd. [1974s], were delinked from SAIL.
- The Indian Iron and Steel Co. limited became a subsidiary of SAIL. The Kulti Works of this company, with an annual capacity of 1.57 lakh tonnes is the largest producer of cast iron & spun pipes.
1980
- 273,32,471 shares allotted to the President of India [124,43,829 shares allotted for consideration other than cashs].
1981
- 44,39,100 No. of shares allotted to the President of India.
1982
- The Salem Steel Plant was inagurated at Salem in Tamil Nadu in March. It represents the dispersal of industries & balance regional development bringing the latest sophistication in cold rolling. The products find application in major industries viz., nuclear, petroleum, chemicals, fertilisers, food processing, Pharmaceuticals, dairy, household appliances, cutlery etc.
- The Salem Steel Plant designed to roll 32,000 TPA of cold rolled stainless steel strips & wider sheet was expected to be increased to 70,000 TPA by installation of Sendzimir mill.
- On 21st May, MSTC ceased to be a subsidiary of Company.
- 4,39,300 No. of Shares allotted to the President of India.
1983
- 20,16,442 No. of shares allotted to the President of India.
1984
- 16,05,800 No. of shares allotted to the President of India.
1985
- A number of technological improvement schemes were undertaken, the most notable being the conversion of open hearth furnace No. 10 into twin hearth furnace.
- 28,83,360 No. of shares allotted to the President of India.
1986
- All the Phase-I units under the plants' 4 million tonne expansion programme were commissioned. A vacuum arc degassing unit was started in the converter shop & a second normalising furnace in plate mill was added.
- 5,23,100 No. of shares allotted to the President of India.
1987
- 3,95,200 No. of shares allotted to the President of India.
1988
- The Visvesvaraya Irons and Steel Co. limited became a subsidiary of SAIL with SAIL acquiring 60% of shares of Company. It has an installed capacity of saleable steel to the tune of 77,000 TPA of alloy & special steel & 48,000 TPA of mild steel. It produces 200 varieties of sophisticated alloy steel and ferro alloys.
- The Bhilai Steel Plant set up a blast furnace bell-less top charging system.
- 90,000 No. of shares allotted to the President of India.
1990
- A modernisation programme was started to revamp and technologically upgrade the plant. After the modernisation the plant is slated for a crude steel capacity of 1.9 million TPA.
- 90,000 No. of shares allotted to the President of India.
1991
- 19,90,75,400 No. of equity shares of Rs 10 each transferred by Govt. of India [Presidents] to Financial Institutions/Banks and Mutual Funds.
1992
- The Comp. produce various qualities & grades of iron and steel i.e., mild steel, alloy steel, special steel, stainless steel, ferro alloys, ERW pipes, spirally welded pipes, etc. The Company activities include planning, promoting & organising an integrated & efficient development of iron & steel and its associated input industries such as iron ore, cooking coal, manganese, limestone etc. It has a well equipped Research & Development Centre for Iron and Steel [RDCISs].
- The Company R&D unit at Ranchi was set up with a view to promote continuous improvement in critical performance indices of the steel plant in order to increase productivity, reduce production cost & improve quality by production optimisation or by introduction of new technologies. The centre undertook various collaborative ventures with agencies both in India and abroad.
- 4384,445 No. of shares allotted to the President of India.
1993
- Government approval for modernisation of BSL stage-I were received.
- The Comp. launched the consultancy division with a view to harness the resources & expertise in steel related areas and market engineering, technical, managerial & training services.
- The Comp. undertook to float a joint venture Comp. in collaboration with USX Engineers and Consultants Inc., Pittsburg, USA for development & execution of technology & system integration for computer applications in basic industries such as those engaged in steel mining & metallurgy.
- The Comp. issued bonds valuing Rs 795 crores by way of private placement to various financial institutions & banks.
1994
- Two major schemes viz. new sinter plant III & expansion of oxygen plant II were taken up for implementation. C.O. Battery No. 10 was commissioned.
- A number of production units like new sinter plant, basic oxygen furnace shop continuous casting plant were commissioned. At Rourkela steel plant, five of phase II modernisation packages viz. power distribution, mobile equipment for RMHS - II sizing plant at Satara, Tarkera intake facilities & make-up water pump houses for Tarkera works were commissioned.
1995
- Under the modernisation programme, the new units like Basic Oxygen Furnace Shop [BOFs], Continuous Casting Plant [CCPs] and New Sinter Plant were stabilised.
- The operation of hot rolling mill was stabilised in April 1996. The mill would enable rolling of stainless steel and carbon steel slabs at Salem itself.
- SAIL has ventured into setting up a power project at Bhilai in joint venture with M/s. Larsen and Toubro & CEA, USA Inc.
- The Comp. issued non-convertible bonds valuing Rs 710 crores through private placements to various financial institutions, banks, trusts, etc.
1996
- Government clearances were obtained. Other joint venture options were at various stages of consideration in the area of manufacturing of slag cement & marketing of Romelt technology.
- For Romelt technology, Government approval for investment by SAIL and Russian partners were received & joint venture agreement was signed with the promoters.
- To augment availability of iron ore for Bhilai steel plant, the Comp. planned to develop Rowghat iron ore mines for which MP Government recommenced clearance of Rowghat project subject to signing of MOU between Ministry of Railways, MP Government, SAIL & NMDC for construction of Railway line from Dalli Rajhara to Jagdalpur from both end simultaneously.
- In March, the Comp. launched an Euro Issues of US $125 million offering 96,33,90 Global Depository Receipts representing 14,45,08,500 equity shares [1 GDR = 15 shares] at an issue price of US $12.975 per GDR.
1997
- Major production facilities of modernisation like both continuous casting machines, steel refining unit & coiler-4 were installed.
- The Modernisation of rail and structural mill [stage 1-phases] was commissioned.
- A Steel rolling mill will be set up by Steel Authority of India Limited [SAILs] at Da-gaon, 60 km north-west of Guwahati.
- The hot rolling mill complex of public sector Salem Steel Plant, a subsidiary of Steel Plant, a subsidiary of the Steel Authority of India Limited [SAILs], has been awarded the ISO-9002 certification in a record period of one year within its commissioning.
- The Comp. has proposed a joint venture with CIL for running the collieries & washeries to improve the quality & quantity to cooking coal.
- Sailcon, the SAIL Consultancy Division, has entered into an agreement with USX Engineers & Consultants Inc of US [UECs] to assist UEC in providing technical consultancy for its client Tisco for installation of galvanising lines at the Gopalpur complex.
- The SAIL has signed an agreement with National Securities Depository Limited for admission of its shares eligible for trading on depository system through electronic mode.
- SAIL is all set to hike its global presence through joint ventures & technological upgradation. The joint venture was set up early last year to develop & market computer systems with specific reference to the steel, mining & metallurgical industries, based on the technology already implemented by its joint venture partners.
- SAIL is already the lowest quoted scrip [Rs.21s] on the Mumbai Stock Exchange 30-share Sensex.
- Steel behemoth Steel Authority of India is currently considering a joint venture for setting up two finishing mills at Durgapur Steel Plant to covert huge number of semis which constitute 50 per cent of plant total production even after the Rs 5,000 crore modernisation.
- Public Sector Steel major Steel Authority of India has signed up TRF [formerly Tata Robins Frasers] for providing technology for the blast furnace upgradation project at its Bhilai steel plant in Madhya Pradesh. TRF will provide the coal dust injection technology to improve the efficiency of blast furnaces.
1998
- The largest steel conglomerate in the country, Steel Authority of India [SAILs], is offering deposit schemes - fixed and cumulative - for one, two & three years respectively.
- In view of Steel Authority of India Ltd [SAIL'ss] rising demand for cooking coal, Coal India Ltd [CILs] is contemplating a joint venture with SAIL for opening new mines.
- SAIL is also looking for marketing tie-ups in the overseas market. Some SAIL products like plates & intermediate steel products [semiss] are well received in the international market.
- In an effort to help the country save foreign exchange, Coal India Ltd [CILs] & Steel Authority of India Ltd [SAILs] have entered into an agreement for supply of coal.
- Steel Authority of India Ltd [SAILs] is taking up development of new iron ore, coal & limestone mines through joint ventures in the wake of increasing steel output & fast-depleting reserves of these inputs.
- Romelt-SAIL India Ltd [RSILs], a joint venture between Steel Authority of India & three Russian companies offering the Romelt technology, has been signed up with the Jindal group flagship, Jindal Strips, for preparing a feasibility report for setting up a 300,000-tonne capacity Romelt plant in Raigarh, Madhya Pradesh.
- The Bhilai Steel Plant [BSPs] of Steel Authority of India Ltd [SAILs] has been awarded the prestigious national quality award for the sixth time by Indian Institute of Metals [IIMs] for the year 1997-98.
- SAIL research & development centre for iron & steel [RDCISs] which decided to undertake research work for private sector, signed an MoU with Usha Martin Industries to carry out investigation of patented steel wire-rod & wire samples of the company.
1999
- The Steel Authority of India Ltd [SAILs] has forged a marketing tieup with Tyazpromexport [TPEs] of Russia to sell the entire range of castings & pig iron produced by Kulti Works, a division of Indian Iron & Steel Comp. [Iiscos].
- The SAIL is all set to finalise a major power deal with Enron Power Corporation of United States. The deal envisages formation of joint venture with the global power major acquiring 51-per cent equity in the new company. The new company will take over Sail captive power plants at Bokaro, Rourkela & Durgapur which have a combined capacity of about 550 MW.
- Indian steel major SAIL has joined the Ulsab-AVC [ultra-light steel auto body-advanced vehicle conceptss] consortium, a grouping of 28 steel producing companies around the world formed to support the automotive industry search for steel-based solutions to its long-term challenges.
- Sail is considering setting up an additional steel making facility at Salem, through a joint venture or hiving off the entire SSP to create a separate subsidiary with it holding a majority stake.
- The management & trade unions of Steel Authority of India Ltd [SAILs] have joined hands to make the public sector steel giant loss-making subsidiary alloy steels plant [ASPs] at Durgapur in West Bengal viable.
2000
- Steel Authority of India Rourkela Steel Plant is planning to increase its saleable steel production from 1.2 million tonne to 1.7 million tonne per annum by 2001-02.
- The Comp. signed a MoU with Egypt public sector Metallurgical Industries Corporation [Micors] for the establishment of modern technical & management training centre for Egyptian steel industry.
- Crisil has upgraded rating of company Bond programme from BBB to BB & FD Programme from FB+ to FA-.
- SAIL has proposed to convert lisco into a joint venture with the Comp. having a minority shareholding.
- The Comp. signed a memorandum of understanding with the ministry of steel, as directed by cabinet, for the implementation of business restructuring with detailed milestones.
- Steel Authority of India is increasing the capacity of hot-rolled coils [HRCs] at Bokaro Steel plant to meet growing demand in the domestic market.
- The Comp. has set up an office of restructuring at its corporate headquarters to facilitiate coordination on all aspects of detailed business restructuring exercise it is currently engaged in.
- The Comp. is expanding its marketing network by appointing wholesale dealers for medium & heavy structurals in select cities like Mumbai, Delhi & Chennai & plant locations like Bhilai & Durgapur.
- The Comp. had received a good response to its global tender for a joint venture with its subsidiary, Indian Iron & Steel Company Ltd.
- The Comp. would introduce the next round of voluntary retirement in the next two to three months.
- The Comp. has launched a new millennium special media campaign to hardsell its wide range of products.
- The Comp. has shortlisted Avesta Sheffield [UKs] & Tata Steel/Usinor combine from the four parties which had expressed interest in being joint venture partners for its Salem Steel Plant.
- Durgapur Steel Plant of Steel Authority of Indian Ltd will set up a slag granulation plant on build-own-operate basis to generate more revenue through better waste utilisation.
- The Comp. will undertake the modernisation of the cold-rolled mill at its Bokaro steel plant.
- The Durgapur Steel Plant of SAIL, has commissioned the computerised integrated production planning & control [PPCs] system that helps in practically every aspect of plant operation and despatch.
- The Comp. has formed a joint venture with Calcutta-based Bansal Mechanical Works to set up a steel service centre at Bokaro.
- Private sector steel majors Tisco, Kalyani Steel & the public sector Steel Authority of India are all set to form a three-way joint venture for undertaking e-commerce activities in the steel sector.
- Steel Authority of India Ltd., Tata Steel & Kalyani Steels limited entered into an agreement for creation of an Internet-based global, independent B2B Steel Market place.
- SAIL is likely to kick off a fresh round of voluntary retirement scheme on October to separate 10,000 of its worers during the current financial year.
- Steel Authority of India Ltd Research and Development Centre for Iron & Steel has signed a memorandum of understanding with MECON to enable complementary of strengths in Iron and Steel and allied areas.
- Steel Authority of India Ltd & the National Thermal Power Corp. are set to begin for a joint venture for three captive power plants & associated units of SAIL.
- Steel Authority of India has prioritised the hive-off of non-core activities over internal restructuring due to scarcity of funds.
- The Comp. has deferred its Voluntary Retirement Scheme to reduce workforce by 10,000 until the next financial year.
- Steel Authority of India Ltd, Tata Steel & Kalayani Steels Ltd signed a joint venture agreement for formal creation of metaljunction.com Pvt. Ltd, to manage their e-marketplace, metaljunction.com.
- Steel Authority of India have to sell-off its power plants to National Thermal Power Corporation at a heavy discount.
- The Comp. has entered into a joint venture with Tata Iron and Steel Co & Kalayani Steel for creation of Comp. to manage their steel e-commerce venture, metaljunction.com.
- The Steel Authority of India & National Thermal Power Corporation may float two separate joint ventures for hiving off SAIL power generation business.
2001
- The Comp. has finally launched a new voluntary retirement scheme for its employees, which will begin from 20th February.
2001
-The Alloy Steel Plant [ASPs], a Comp. from the Steel Authority of India Ltd [SAILs] stable, may witness another voluntary retirement scheme [VRSs] before it is sold off to a joint venture partner.
- The Government has served a notice to the Steel Authority of India run Bhilai Steel Plant for recovery of dues to the tune of Rs 7 crore towards water charges by July 8.
2002
- Steel Authority of India Ltd has informed that on the nomination by Government of India, the Board of Directors of the Company at its meeting held on December 26, 2001 has approved the appointment of Shri S.N.Mishra IAS [Retds] as Part-time Non-Official Director on the SAIL Board.
- Steel Authority of India Ltd [SAILs] has informed BSE that Mr. Deepak Parekh, Director, SAIL has resigned from the Board of Directors of Company.
- Steel Authority of India Ltd [SAILs] has informed that Government of India [GOIs] has appointed Mr. D.P.Singh, as Director on the Board.
- Steel Authority of India Ltd has informed that on superannuation Shri M K Moitra Director, Sail has ceased to be a Director on the Board of Directors of Steel Authority of India.
-Steel Authority of India Ltd has informed BSE that Dr Isher Judge Ahluwalia has resigned from the Board of Directors of Company.
- Steel Authority of India Ltd has informed BSE that on nomination by Government of India, the Board of Directors of Comp. has approved the appointment of Dr Sanak Mishra as Managing Director, Rourkela Steel Plant, SAIL on the SAIL Board.
-Steel Authority of India Ltd has informed BSE that on superannuation of Shri Arvind Pande from the services of Company, Shri V S Jain has taken over the charge of Chairman, SAIL with effect from September 30, 2002 [ANs].
-Steel Authority of India Ltd has informed BSE that on superannuation Shri R C Jha Director Sail has ceased to be a Director on the Board of Directors of Comp. wef October 31, 2002 [A/Ns].
2003
-Steel Authority Of India limited has informed that Govt. of India has nominated after approval of BoD of Steel Authority of India Ltd [SAILs], Mr. Ashis Das has joined as Director [Personnels] on the Board of SAIL, w.e.f. June 18, 2003.
-A K Singh ceases to be a Director of SAIL
-Approves appointment of nominee directors Shri V K Agarwal, Shri P K Sengupta, Dr Amit Mitra & Shri A H Jung as Part time Non Official Directors on the Board
-Mr. Amit Mitra, secretary general of FICCI, appointed as director on the board
-SAIL e-business achieves Rs 100-cr business mark
-Losses slide down by 70% in 2002-03 compared to 2001-02
-Bhilai Steel Plant [BSPs] developes a special grade steel for country naval warships in collaboration with the Defence Metallurgical Research Laboratory, Hyderabad
-Durgapur Steel Plant [DSPs] developes target steel for ballistic testing used in defence sector with stringent specifications
-SAIL 2003-04 Exports jumps by 40 pc
-Share price hits 52-week high of Rs 31.90 on 11/08/2003
-SAIL gets new Bloom Caster for its DSP in West Bengal
-Breaks into top ten in Marketcap chart, occupies 7th slot
-D P Singh ceases to be director on the Board of SAIL
-Government of India appoints Shri S Y Quraishi, additional secretary and financial advisor, Ministry of Steel, as director on the Board of Directors of Steel Authority of India Ltd on September 11, 2003
-Shri Suresh Pandey has ceased to be a Director on Board of Directors of Comp. wef November 30, 2003 [A/Ns]. Further Shri UP Singh has been appointed as Director on the Board From December 1, 2003.
-Mr U.P. Singh is the new Managing Director of SAIL Bokaro Steel Plant. He took over charge of office from Mr Suresh Pandey, who superannuated on November 30.
-Bhilai plant records Rs 320 crore steel exports
2004
-SAIL pays back Rs 3,000 crore to FIs
-Mr. R P Singh inducted as the Managing Director of Bhilai Steel Plant [BSPs]
-Metaljunction [MJs]- the online trading & procurement joint venture of Tata Steel & Steel Authority of India [SAILs]- has roped in UTI Bank to start off own equipment for Tata Steel.
-SAIL forges alliance with CIL to develop coal mines in Mozambique
-SAIL R&D division gets Golden Peacock Innovation Award
-SAIL ties up with Kudremukh Iron Ore
-SAIL signs strategic agreement with BHP Billiton
-SAIL ties up with Durgapur Projects
-SAIL ties up with BHP Billiton
2005
-GAIL ties up with SAIL
-Delist equity shares from The Stock Exchange, Ahmedabad [ASEs] with effect from January 28, 2005.
-Steel Authority of India Ltd Bhilai Steel Plant has been adjudged the best performing steel plant in the country for 2003-04.
-Steel Authority of India Ltd [SAILs] delists shares of Comp. from The Calcutta Stock Exchange Association Ltd [CSEs] with effect from December 21, 2005.
2006
-SAIL join hands BCCL to develop Moonidih mine
-Steel Authority of India Ltd [SAILs] has informed that on nomination by Government of India, the Board of Directors of Comp. has approved the appointment of Shri. P K Sengupta, Prof. Javaid Akhtar & Dr. Vinayshil Gautam as Part-time Non-official Directors on the Board of Company.
2007
-Steel Authority Of India limited has informed that On nomination by Government of India, the Board of Directors of Steel Authority of India Limited [SAILs] has approved the appointment of Shri S Bhattacharya, Executive Director, SAIL as Director [Finances], on the Board of Directors of SAIL.
-Steel Authority of India Ltd [SAILs] has informed that on nomination by Government of India, the Board of Directors of Comp. has approved the appointment of Shri. S S Ahmed, Executive Director, of Comp. as Director [Commercials], on the Board of Directors of Company.
- Steel Authority of India Ltd [SAILs] has informed that the Comp. is signing on June 26, 2007 a Memorandum of Understanding [MOUs] with Manganese Ore India Ltd [MOILs] for setting up of Joint Venture Comp. [JVCs] to produce ferro-manganese & silico-manganese.
-SAIL has appointed Shri. V K Gulhati as Director [Technicals] on the Board of Directors of Comp. w.e.f. October 01, 2007.
- Steel Authority of India Ltd Management Training Institute [MTIs] has inked a memorandum of understanding [MoUs] with the Indian Institute of Management [IIMs] Indore for conducting programmes together for various organisations in areas of mutual interest.
- Steel Authority of India Ltd [SAILs] has inked a traffic guarantee pact with Rail Vikas Nigam Ltd [RVNLs] under the Ministry of Railways, for transportation of 5 lakh tonnes of imported coking coal per year using the Paradip-Haridaspur railway line.
-Steel Authority of India Ltd [SAILs] has informed that Government of India has appointed Shri. B S Meena, Additional Secretary and Financial Adviser, Ministry of Steel as director on the Board of Directors of Company
2008
-Steel Authority of India Ltd [SAILs] has informed that the Board of Directors of Comp. has approved the appointment of Shri. S P Rao, Executive Director, SAIL as Managing Director, IISCO Steel Plant & Director on the Board of Directors of SAIL.
-Steel Authority of India Ltd [SAILs] has informed that the Comp. on February 21, 2008 has signed a Joint Venture Agreement with M/s. Jaiprakash Associates Limited [JALs] for formation of Joint Venture Comp. [JVCs] to set up a cement plant for producing 2 million tonnes of Cement at Bokaro [Jharkhands] by using slag generated at Bokaro Steel Plant of SAIL.
-Steel Authority of India Limited & Larsen & Toubro Limited [L&Ts] has signed a Memorandum of Understanding [MoUs] to jointly set up, develop, manage & own captive/independent power plants at suitable location/s to meet future power requirements of SAIL.
