MECON GETS RS. 76 CRORE NEW CONSULTANCY BUSINESS

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MECON Ltd. , Ranchi in Jharkhand State, a public sector unit of the Steel Ministry has received new consultancy jobs of Rs. 76 crore till October 2003, around 90 per cent of the yearly target. By the end of this calendar year, the company expects more jobs and the total value may reach Rs. 100 crore crossing the annual target, today informed the CMD, MECON, Shri R.K.Zaroo in a review meeting taken by the Union Minister of Steel Shri Braja Kishore Tripathy. He said the company, in the first half of this fiscal received consultancy jobs of Rs. 40.22 crore against a target of Rs. 42.5 crore. The Minister was reviewing the Q 2 and half yearly performance of the company. There has been around 50 per cent increase in the value of consultancy jobs received during the H 1 of this fiscal as compared to the corresponding period last year.

The Minister asked the company to improve its overall performance and achieve the turnover and financial targets. The company he said, should now focus on remunerative business, cost reduction through VRS, improved performance of jobs and contracts, sound operational practices and augmentation of resources through sale of surplus assets and realisation of pending dues.

Shri Tripathy asked MECON to update its skills and take the advantage of emerging steel sector. As a cost effective and efficient services provider, it should prepare to face the challenges in the competitive environment.