JSW is all set to steal the show from the biggies on the global steel stage...in style!
IIPM PUBLICATION
‘Others saw it as unfeasible, but Sajjan Jindal saw it otherwise...’ Yes, if you’re wondering what we’re referring to here, here’s a simple narration – After Indira Gandhi laid the foundation stone of Vijayanagar Steel Plant, back in 1971, not a single company came to the front to set up the plant on account of viability of the project. However, post-liberalisation, Sajjan Jindal decided to take up the challenge and did so gutsily in 1994. Defyiang all odds he and his team impeccably tailored the impossible imagination into a fructiferous reality. During our visit to JSW Steel Ltd. (JSW) site in Vijayanagar, to whomsoever we spoke, all voiced out proudly in unison, “We took the challenge of setting up the plant where nobody dared to do so...”
In order to overcome the unfeasibility of the project, JSW took the ‘big risk’ of espousing the untested technology – Corex (which uses coal instead of coke), in contrast to the common blast furnace, which finally paid-off handsomely and was nothing short of a miracle. Later on, due to various constraints concerning usage of Corex – as it limited production capacity to just 0.8 MT per corex and high set-up & maintenance cost which stood at double than of the common blast furnace – JSW installed blast furnaces and did that quite successfully to make them money-spinning steelmaking machines – surely a feat possible ‘only’ in the eyes of Jindal. And the whole chain of incidents looks nothing short of a fable considering the ‘geographical obstacles’ in mind. But succeed he did, and thereon began the aeon of unmatched and unbeatable legacy.
For Complete IIPM Article, Click on IIPM Article
Source : IIPM Editorial, 2007
An IIPM and Professor Arindam Chaudhuri (Renowned Management Guru and Economist) Initiative
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