HSCL APRIL-JULY TURNOVER UP 27 PERCENT

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Hindustan Steelworks Construction Limited (HSCL), Calcutta has achieved a turnover of Rs. 87.51 crore during April-July, 2002-03 against Rs. 69 crore during the same period last year, showing nearly 27% increase. It has booked orders of Rs. 75.43 crore during these 4 months against Rs. 68.9 crore during the same period of the previous year. The company has diversified and entered into the non-steel sector to expand its business. This was briefed by the HSCL, CMD, Dr. B.K. Jha in a periodic review meeting taken by the Minister for Steel, Shri Braja Kishore Tripathy.

The Minister was glad to know that the company has utilized the Rs. 50 crore loan received from the Indian Overseas Bank to separate 804 employees. He asked HSCL to step up efforts to raise another Rs. 200 crore loan from other Banks, for which Government of India has cleared the provision of guarantees. He stressed on taking other cost cutting measures to enhance company’s saving. He said that this may require tremendous hard work and sacrifices for all concerned but in the long run, it will be beneficial to the company.