Tata Steel presented with Prime Minister’s Trophy for the Best Integrated Steel Plant in India
~ Hon’ble Steel Minister presents the 25th Prime Minister’s Trophy for Excellence in Performance of Integrated Steel Plants to Tata Steel ~
~ The Company’s performance has been recognised for the fourth consecutive year ~
Hon’ble Union Steel Minister, Shri Chaudhary Birender Singh, today presented the prestigious Prime Minister’s Trophy for the ‘Best Integrated Steel Plant in India’ to Tata Steel for the best overall performance amongst the integrated steel plants in the country.
Tata Steel is the winner of 25th Prime Minister’s Trophy for Excellence in Performance of Integrated Steel Plants for the year 2016-17. This makes it the fourth consecutive year for Tata Steel being honoured with this coveted award. Since the inception of this award in 1992-93, Tata Steel has been recognised as the best integrated steel plant 13 times, having won the PM’s Trophy (PMT) 11 times and received the Certificate for Excellence twice.
Mr T. V. Narendran, CEO & MD, Tata Steel and Mr R Rabi Prasad, President, Tata Workers’ Union (TWU) received the award from the Hon’ble Union Steel Minister at an award felicitation event held today in New Delhi. Shri Binoy Kumar, Secretary, Ministry of Steel, Mr Anand Sen, President, TQM & Steel Business, Tata Steel and Mr Chanakya Chaudhary, Vice President, Corporate Services, Tata Steel were also present on the occasion.
“This is a great privilege for us that we are receiving this prestigious award for the fourth time in a row. This is a recognition of the efforts that the entire Tata Steel family puts in, day in and day out. For us the journey of excellence started more than 100 years ago, when Tata Steel commenced its operations in 1911,” said Mr T. V. Narendran, CEO & MD, Tata Steel.
Mr Narendran also delivered a speech on "Journey of Excellence - Challenges faced and how these were overcome" on the occasion.
“For us at Tata Steel, excellence is not a destination, it is in fact a never-ending journey. Excellence is as much about the awards that we get, as the experiences our stakeholders have when they deal with us,” Mr Narendran added.
As a pioneer and innovation leader in the sector, Tata Steel has set industry benchmarks in terms of technological innovations. Tata Steel’s efforts towards creation of strong systems, building steadily on a robust foundation with an eye on sustainable future was appreciated by the panel of judges. Achieving global levels in terms of costs, production, techno-economics, demonstrating best practices on several fronts including HR and IR were some of the areas identified as hallmark of Tata Steel. The focus on various programmes and projects for a sustainable future through forward looking interventions leveraging innovation, digitalization etc. were appreciated by the eminent jury.
Ministry of Steel has a scheme for award of Prime Minister’s Trophy, Steel Minister’s Trophy and Certificates of Appreciation. The scheme for awarding integrated steel for excellence in performance began in 1992-93 and 2016-17 was the 25th year of the evaluation.
The objective of the award is to give recognition to outstanding performance in integrated steel plant sector of the national economy, which draws heavily on resources of capital and skilled manpower. The award is intended to spur these major producers to achieve international standards of efficiency, quality and economy in their operations.
All integrated steel plants in India starting operation from iron ore and having minimum crude steel production of one million tonne in last two years are eligible to participate in the scheme. Nine integrated steel plants participated for the performance year 2016-17. The performance of the plants is evaluated by a panel of judges. Members of the panel are drawn from eminent technologists, management experts, trade union leaders, economists and consumers of iron & steel.
About Tata Steel
Tata Steel Group is among the top global steel companies with an annual crude steel capacity of 33 million tonnes per annum (MTPA). It is one of the world's most geographically-diversified steel producers, with operations and commercial presence across the world. The Group recorded a consolidated turnover of US $20.41 billion (INR 133,016 crore) in FY18. In 2018, Tata Steel acquired Bhushan Steel Ltd (now renamed as Tata Steel BSL Ltd). Currently, Tata Steel's consolidated India crude steel production capacity stands at 18.6 MnTPA.
A Great Place to Work-CertifiedTM organisation, Tata Steel Ltd., together with its subsidiaries, associates and joint ventures, is spread across five continents with an employee base of over 65,000.
Tata Steel retained Industry Leader position in FY18 and ranked second overall in the DJSI assessment, 2017. The Company has been recognised as the Climate Disclosure Leader in ‘Steel category’ by CDP (2017). Besides being a member of the World Steel Climate Action Programme, Tata Steel has won several awards including the Prime Minister’s Trophy for the best performing integrated steel plant for 2016-17, ‘Corporate Strategy Award’ by Mint (2018), Golden Peacock Award for Risk Management 2018 and Best Risk Management Framework & Systems Award 2019 by CNBC TV18. The Company also received the ‘World’s Most Ethical Companies’ award from Ethisphere Institute for the eighth time (2019), Steel Sustainability Champions (2017) by the World Steel Association, Dun & Bradstreet Corporate Awards (2017 & 2018), Golden Peacock HR Excellence Award by Institute of Directors (2017 & 2018) as well as 'Asia's Best Integrated Report' award by the Asia Sustainability Reporting Awards (2017), among several others.
In 2018, the Company launched a corporate brand campaign #WeAlsoMakeTomorrow www.wealsomaketomorrow.com
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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.