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Journalism of Courage
Jayaswal Neco Industries Limited,flagship company of the Neco Group of Industries,had announced expansion plan worth Rs 3,300 crore in steel,mining and captive power projects.
The company has commenced planning and implementation of its expansion of 0.1 MTPA coke oven plant,steel melt shop by 0.45 MTPA and rolling mill by 0.35 MTPA,modernisation of its existing wire rod mill,setting up of 0.3 MTPA sponge iron plant,setting up of 62 MW captive power plants,development of its non-coking coal mines along with 3 MTPA coal washery and development of its iron ore mines in Chattisgarh and development of its coking coal mines with 1 MTPA coal washery in Jharkhand.
Post-expansion,the company has planned to double its turnover by 2014. Neco Group promoted by Basant Lall Shaw is a renowned industrial group headquartered here. With a turnover of more than Rs 2,500 crore,the group has a fixed asset base of around Rs 2,000 crore and net worth of around Rs1,000 crore.
Neco is one of the major integrated steel producers with an installed capacity of 1 million TPA. It is also the largest manufacturer of ferrous castings in India producing more than 0.1 MTPA while also machining them.
It also manufactures industrial valves and auto components and is one of the largest industrial valve manufacturers in the country.
