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Tata Steel bags Prime Minister's Trophy for fourth consecutive year

Steel News - Published on Fri, 14 Dec 2018

Image Source: Livemint
Tata Steel Limited has been declared as the winner of the Prime Minister's Trophy for the 'Best Performing Integrated Steel Plant' in the country for the performance year 2016-17. This makes it the fourth consecutive year for Tata Steel being honoured with this coveted award. Since the inception of this award in 1992-93, Tata Steel has been recognised as the best integrated steel plant 13 times, having won the PM’s Trophy (PMT) 11 times and received the Certificate for Excellence twice.

During the PMT assessment for 2016-17, the Company went through a rigorous assessment by a panel of distinguished judges covering various aspects such as strategy, leadership, CSR, safety, financial prudence, sustainability, choice of technology and efficiency of operation. An independent agency (CII) led assessment was also carried out on the Company’s systems & processes.

Tata Steel’s efforts towards creation of strong systems, building steadily on a robust foundation with an eye on sustainable future was appreciated by the panel of judges. Achieving global levels in terms of costs, production, techno-economics, demonstrating best practices on several fronts including HR and IR were some of the areas identified as hallmark of Tata Steel. Focus on various programmes and projects for a sustainable future through forward looking interventions on innovation, digitalization etc. were appreciated by the eminent jury.

The Prime Minister's trophy, instituted in 1992-93 by the Government of India, recognises the outstanding performance of integrated steel plants. The award is intended to spur steel plants to achieve international standards of efficiency, quality and economy in their operations. The primary objective of the scheme is to generate a sense of competition among the steel plants so that they can continuously benchmark themselves with the best and improve their performances. The Prime Minister’s Trophy for excellence in performance of integrated steel plants entered its 26th year of evaluation during the performance year 2016-17.

As per the recommendations of the Expert Committee and amendments carried out by the Government of India, parameters considered for evaluating the performance of the integrated steel plants are: Objective Parameters (Steel capacity utilisation, Efficiency of operations, Financial performance, Product quality, Environment Management, Gender diversity, Safety, Thrust on R&D etc.), Enabling Parameters (assessment of systems & processes) by independent agency and Observation by a Panel of Judges based on interactions with the senior management and plant visits.

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Posted By : Ratan Singh on Fri, 14 Dec 2018
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