Hindustan Steelworks Construction Limited (HSCL) signed the MOU for the year 2016-2017 with Ministry of Steel, Govt. of India on 19.07.2016 in New Delhi. The MOU was signed by Ms. Aruna Sundararajan, IAS, Hon’ble Secretary, Ministry of Steel and Sri. M. Bhaduri, CMD, HSCL in presence of senior officials of Ministry of Steel and HSCL. The targets set in the MOU are growth oriented with specific stress on timely delivery of projects.
After more than 30 years of incurring losses, HSCL will be a Net Profit generating CPSU with positive Net Worth during 2016-2017. The company will also pay Dividend and Tax to the Govt. Exchequer. Hon’ble Secretary Steel was all praise for the endeavour made by the company during the last several years in staging a successful turnaround and taking a target for payment of Dividend to Govt. of India.