Steel Minister Beni Prasad Verma asks MECON to increase its turnover

NEW DELHI: Steel Minister Beni Prasad Verma, has asked MECON to concentrate more on procuring projects in the area of Slurry pipeline, Pelletisation and Beneficiation plants.

Reviewing the PSU’s performance on Monday, the Minister advised MECON to increase its turnover, which fell below its commitment to the ministry.

During the 1st half of the current Financial Year 2012-13, the engineering and consultancy services company procured jobs worth Rs 411.29 crore against an MOU target of Rs 535 crore for the financial year. The company’s turnover during the period has been Rs 154.27 crore and the Net Worth as on 30.09.2012 has been Rs 325.67 crore.

MECON also provides project management services for 2.5 Mt/yr integrated steel plant of ISP, Burnpur and NMDC’s proposed 3 mt annual integrated steel plant.

The company has made inroads in power, oil & gas and infrastructure sectors. Its diversification efforts have paid rich dividends and MECON has undertaken turnkey project execution apart from emerging as a top engineering consultancy company, said a government release.