Bhushan Steel

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Bhushan logo = Bhushan Steel logo.svg
Type Private
Traded as BSE500055, NSEBHUSANSTL, ISIN: INE824B01021
BSE SENSEX Constituent
Founded 1987
Headquarters New Delhi, India
Key people BRIJ SINGHAL
(Chairman)
NEERAJ SINGHAL
(Vice Chairman & Managing Director)
Products Cold rolled, galvanised, Bhushan Galume, colour coated tiles, drawn tubes, strips, wire rods, alloy billets, sponge iron
Revenue Increase US$1.7 billion
Website Official Website

Bhushan Steel is the largest manufacturer of auto-grade steel in India[1] and is spending Rs. 260 billion to expand its capacity to 12 million tonnes annually,[2][3] from the present installed capacity of around one million tonnes.[4]

Financials and management[edit]

Gross sales of Bhushan Steel grew from Rs.5 billion in 2001 to Rs.40 billion in 2007. It earned net profits of Rs.3.13 billion in 2007 and exported goods worth Rs.12.57 billion. Its exports include steel for both the automotive and white goods industry and the list of countries it is exporting to includes several developed countries.[4]

Rakesh Verma (UK) is chairman of board of directors of Bhushan Steel. Brahma Nand Chaturvedi[also known as Chopa King(or)Chopa baba] is the Vice Chairman and Managing Director.[4]

The Khopoli plant in Maharashtra was commissioned in 2004 and has been producing colour coated sheets, high tensile steel strappings, hardened and (aluminium and zinc coated sheet) for the first time in India, along with CRCA steel to cater the need of Automobile Industry.[4]

At its Sahibabad plant in Ghaziabad, Uttar Pradesh, it has a 1700 mm mill, which produces the widest sheets in India for the automotive industry. It has highly automated systems.[4]

At its Meramandali, Dhenkanal plant in Orissa, Bhusan Steel produces hot rolled coils and has mills for hot rolling. Construction of the first phase is being carried out.[4]

Bhushan Power and Steel Limited has seven plants at four locations – Chandigarh, Derabassi in Punjab, Bangihatti, near Dankuni in West Bengal, and Thelkoloi in Odisha.[5]

Expansion projects[edit]

Bhushan Steel Ltd announced that its board of directors in a meeting held on 22 January 2007 approved the following projects – (1) Setting up of an integrated steel plant in West Bengal with facilities including slab plant, coke ovens and captive power plant. (2) Setting up of a 6 million tonne per annum integrated steel plant as an expansion of its existing plant being set up at Meramandali (Distt Dhenkanal) in Odisha.[4][6]

Its biggest expansion is in Odisha – it has signed an agreement with the Government of Odisha for setting up of a three million tonnes capacity steel plant at Meramandali in Dhenkanal district,[7] and as part of its total integration of the steel value chain, Bhushan Steel is in the process of setting up a power plant and an advanced hot rolling plant on 3,200 acres (13 km2) at Meramandali in Dhenkanal district near Angul, at a cost of 52 billion and its subsequent backward integration and expansion to 4 million tonnes.[3][8]

In West Bengal, Bhushan Steel has signed an agreement with the Government of West Bengal and West Bengal Industrial Development Corporation Ltd. to set up a two million tones steel plant at Salanpur in Bardhaman district. The cold rolling and galvanizing unit will be set up in North 24 Parganas district.[9] It has also zeroed in on Kharagpur for another power and 2 million tones steel plant and is in talks with the state government for allocation of about 4,000 acres (16 km2) of land.[8]

In Karnataka, Bhushan Steel will be setting up a 6 million tonne per annum integrated steel manufacturing facility at Bellary, at an investment of Indian Rupee symbol.svg 279.28 billion.[10]

In Maharashtra, Bhushan Steel has signed an agreement with the Maharashtra Industrial Development Corporation (MIDC) to invest Rs13.50 billion at Butibori.

References[edit]

  1. ^ "Analysts' picks: Ambuja, Cairn India, Cadila, RCom, Bhushan Steel". The Economic Times, 9 February 2008. Retrieved 19 February 2008. 
  2. ^ "Bhushan Steel to spend Rs 260 bn hike capacity to 12 mn ton". Iris, 11 February 2008. Retrieved 19 February 2008. 
  3. ^ a b "Bhushan Steel confirms setting up of projects worth Rs260bn". India Infoline, 11 February 2008. Retrieved 19 February 2008. 
  4. ^ a b c d e f g "Bhushan Steel Ltd. (formerly Bhusan Steel & Strips)". Bhushan Steel Limited. Retrieved 19 February 2008. 
  5. ^ "Bhushan Power & Steel". Bhushan Limited. Retrieved 19 February 2008. 
  6. ^ Nominee Directors on the Bhushan Steel Board-BTvin
  7. ^ "Orissa signs MoUs for five more steel plants". The Hindu Business Line, 4 November 2005. Archived from the original on 29 January 2008. Retrieved 19 February 2008. 
  8. ^ a b "Bhushan Steel plans 2 power plants". The Hindu Business Line, 28 August 2007. Retrieved 19 February 2008. 
  9. ^ "Bhushan Steel setting up plant in Bengal". The Hindu Business Line, 12 May 2007. Retrieved 19 February 2008. 
  10. ^ "Karnataka wins mega steel, power investments". Archived from the original on 10 July 2010. Retrieved 23 July 2010.