MECON ASKED TO EXPAND BUSINESS
MECON LTD is striving
hard to downsize its manpower and optimise its cost cutting measures.
It has diversified its services to non-steel sectors and now cover
varied fields like infrastructure, power plants and power distribution,
oil and gas, environment engineering, defence and mining related
jobs, ocean engineering and ports and material handling. It has
collaboration agreement with leading firms of USA, Germany, France,
Italy and Russia. The company is trying its best to bring about
a rapid turn around, briefed Shri R.K. Zaroo, acting CMD, MECON,
in a periodic review meeting taken by the Minister of Steel, Shri
B.K. Tripathy, here today.
The Minister
pointed out that the turnover of the company has been stagnating.
However, the gross loss and net loss have come down during the
1st quarter of this fiscal compared to that of the
same quarter last year. The Minister asked MECON to take all possible
measures to bring down losses which may stand in the way of getting
new work orders. He emphasized on cost-cutting measures and mobilize
optimal resources to meet the growing challenges of business.
He advised MECON to accept major work orders with comfortable
margins amidst high competitive environments.
