Tata Steel awarded with Prime Minister's Trophy for best performing Integrated Steel Plant
~Tata Steel wins the trophy for the assessment year 2014-15 and 2015-16~
Tata Steel Limited has been awarded the Prime Minister's Trophy for ‘Best Integrated Steel Plant’ for the assessment years 2014-15 and 2015-16. This is the third time in a row that the award has been given to Tata Steel. The award was presented by the Hon’ble Vice President of India, Shri M. Venkaiah Naidu to Mr. Anand Sen, President, TQM & Steel Business, Tata Steel and Mr. R Rabi Prasad, President, Tata Workers’ Union at a function held today in Hyderabad.
Since the inception of this award in 1992-93, Tata Steel has been recognised as the best integrated steel plant twelve times; having won the PM’s Trophy ten times and received the Certificate for Excellence twice. For the year 2014-15 and 2015-16, the Company went through a rigorous assessment by a panel of distinguished judges. Tata Steel’s efforts towards embracing modern technology, ingraining safety culture, creating a world-class plant environment were appreciated by the panelists. Significant improvement in operational efficiency, reduction in green house emission, digitalisation, corporate social responsibility, city management services, harmonious industrial relations were some of the other areas that were recognised by the eminent jury.
Speaking on the occasion, Mr. Anand Sen, President, TQM & Steel Business, Tata Steel said, “We at Tata Steel are privileged to have received this award in recognition of our efforts in pursuit of technological excellence. We believe in delivering on a vision to innovate and implement state-of-the-art technological practices, modern technology and build an environment that is safe for our employees. As a corporate, we are driven by values and the pioneering spirit for developing leading-edge solutions in technology, processes and products. This award would not have been possible without the support of the entire Tata Steel family.”
The Prime Minister's trophy, instituted in 1992-93 on the suggestion of the then Prime Minister Mr P V Narasimha Rao, recognises the outstanding performance of the integrated steel plants. The award is intended to spur steel plants to achieve international standards of efficiency, quality and economy in their operations.
The primary objective of the scheme is to generate a sense of competition among the steel plants so that they continuously benchmark themselves with the best and improve their performances.
As per the recommendations of the Expert Committee and amendments carried out by the Government of India, parameters considered for evaluating the performance of the integrated steel plants are: Steel capacity utilisation, Efficiency of operations, Financial performance, Quality of products, Environment Management, Corporate Social Responsibility, Safety, Thrust on R&D, Customer Satisfaction, Enabling Parameters, Employees' Satisfaction Index and Observation of the Panel of Judges based on plant visits.
About Tata Steel
Tata Steel Group is among the top global steel companies with an annual crude steel capacity of 27 million tonnes per annum (MTPA) as on March 31, 2017. It is the world's second-most geographically-diversified steel producer, with operations in 26 countries and a commercial presence in over 50 countries. The Group recorded a consolidated turnover of US $18.12 billion (INR 117,420 crore) in FY17. Tata Steel Group is spread across five continents with an employee base of nearly 74,000. Having bagged the Deming Application Prize and Deming Grand Prize for continuous improvement in 2008 and 2012 respectively, Tata Steel has now been recognised as the global ‘Industry Leader’ in ‘Steel category’ by Dow Jones Sustainability Index (2015). Besides being a member of the World Steel Climate Action Programme, Tata Steel has also been felicitated with several awards including the Prime Minister’s Trophy for the best performing integrated steel plant for 2013-14 (received in 2017), Best Risk Management by CNBC TV18 (2016), ‘Best-in-class Manufacturing’ award from TIME India (2016) and the ‘Most Ethical Company’ award from the Ethisphere Institute (2016), IIM Sustainability Award (2015), among several others.
Statements in this press release describing the Company’s performance may be “forward looking statements” within the meaning of applicable securities laws and regulations. Actual results may differ materially from those directly or indirectly expressed, inferred or implied. Important factors that could make a difference to the Company’s operations include, among others, economic conditions affecting demand/ supply and price conditions in the domestic and overseas markets in which the Company operates, changes in or due to the environment, Government regulations, laws, statutes, judicial pronouncements and/ or other incidental factors.