ISSN (Print) - 0012-9976 | ISSN (Online) - 2349-8846

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All for the Joint Sector

All for the Joint Sector Hansavivek MUKAND IRON has made a fresh approach to get an industrial licence for setting up a sponge iron plant, as the management believes that the company's application, which was turned down by government, is valid under the Industrial Policy Resolution. Sponge iron promises to be suitable material as feedstock for electric furnaces in addition to scrap, the indigenous availability of which is not likely to keep pace with the rapidly rising demand. Government has issued letters of intent for three sponge iron plants in the country. Mukand's new Chairman, Viren J Shah, suggests that a good many entrepreneurs be encouraged to go in for such plants. He has welcomed the government decision to promote the development of the joint sector by permitting private sector companies to set up industrial projects in collaboration with state governments. Mukand is exploring the possibility of establishing such projects in steel-making and allied engineering fields, One such proposal, in fact, is already in an advanced stage of negotiations. With the experience and expertise acquired over the years, the company is also assisting in setting up new industrial ventures in diverse fields in India and abroad. A steel foundry is being established in Malaysia in collaboration with a Malaysian company and the local State Development Corporation. In India, the company has enabled Polysteels (India) to set up at Bhav- riagar a mini steel plant. Some other proposals for such collaboration are also being considered. The company renders assistance to ancillary industries. It is claimed that nearly 150 factories in the Greater Bombay and the Thana Belapur belt have benefited from this programme.

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