Bhushan Steel Ltd is engaged in the steel business. The company has a portfolio of flat products, which are manufactured at steel processing facilities at Sahibabad, Uttar Pradesh. The company is producing cold rolled close annealed coils (CRCA), galvanized sheets, precision tubes, high tensile steel, hardened and tempered steel strip (H&T strips), wire-rods, color-coated sheets and galume. They also produce, sponge iron, pig iron, billets, slabs, HRC and power.
Bhushan Steel Ltd was incorporated on January 7, 1983 with the name Jawahar Metal Industries Pvt Ltd. In January 14, 1987, Brij Bhushan Singal and his sons Sanjay Singal, Neeraj Singal and associate companies took over the management of the company by acquiring the entire stake. In the year 1989, the company became a deemed public limited company. In the year 1992, the company was renamed as Bhushan Steel and Strips Ltd after diversifying into wide-width cold-rolled (CR) steel strips. Also, they completed the cold rolling plant during the year.
In the year 1993, the company came out with their first public issue to finance their forward integration project for the manufacture of 1,00,000 tpa of continuous annealed/ galvanised steel strips. In January 1994, the company commissioned the galvanising plant with a capacity to manufacture 120000 tonnes per annum of wide width cold rolled steel strips and 100000 tonnes per annum of galvanised sheets. In April 1995, the company came out with their second public issue to part-finance for project of setting up of facilities to manufacture an additional 1,50,000 TPA of CRCA and 40,000 TPA of GP/GC sheets.
In the year 1998, the company commissioned a cold rolled steel plant at Ghaziabad, in collaboration with Sumitomo of Japan to cater to the needs of the automotive sector. In the year 1999, the company also set up a dedicated service centre for large OEM customers at Sahibabad. In the year 2000, the company approved the amalgamation of Bhushan Ltd with the company. In the year 2001, the company implemented the expansion project of 2,50,000 TPA of Cold Rolling Cum Galvanising & Tube Complex in Khopoli, Maharashtra at cost of Rs 4860 million. In the year 2003, they entered into a strategic alliance with Sumitomo Metal Industries of Japan for the process know-how regarding the manufacture of automotive steel sheets.
During the year 2004-05, the company commissioned the Cold Rolled (Narrow) and Pipe plant at Sahibabad. During the year 2005-2006, the company commissioned the Galume line, an aluminium and zinc coated patented product of the company for the first time in the country at Khapoli plant. In the year 2007, the company signed an MoU with Chhattisgarh Government for setting up 1000 MW Power Plant with an investment of Rs 40 billion. The company changed thei name from Bhushan Steel and Strips Ltd to Bhushan Steel Ltd with effect from April 12, 2007.
During the year 2007-08, the company successfully completed Phase I of the Orissa Project. The company started the production facilities of Sponge Iron (680000 tpa), Billets (300000 tpa) and Power Plant (110 MW) thus completing Phase-l of Orissa Project on schedule. The company has acquired a major stake in Bowen Energy Ltd of Australia. Additionally, through their 100% subsidiary Bhushan Steel (Australia) Pty Ltd, the company entered into a JV to develop their coking coal/thermal coal projects in Australia. The company incorporated two wholly owned subsidiaries namely Bhushan Steel (Australia) Pty Ltd and Bhushan Steel Global FZE.
During the year 2008-09, the company successfully commissioned the Cold Rolling Mill (narrow) 50000 tpa, Tube Mill (40000 tpa) and balancing equipment viz. Pass Mill, CR sillter, Cut to Length Line and annealing furnaces etc. at existing Khapoli Plant. The company also commissioned two Hardened and Tempered Lines of 2500 tpa each. The company has been allotted one prospecting License by Ministry of Mines, Govt. of India for Iron Ore over an area of 281 Hectares in villages Marsuan, Tiriba and Narsinghpur, District Keonjhar of Orissa.
The company signed an MOU with Bowen Energy Ltd (BWN), an exploration company in Australia to meet long term requirements of the Coke for the Orissa Project. BWN has the license for exploring three coking coal mines in Bowen Basin in Queensland, near to Brisbane.
During the year 2009-10, the company along with Railway Vikas Nigam Ltd and Jindal Steel & Power Ltd formed a special purpose vehicle (SPV) under the name and style of Angul Sukinda Railway Ltd for the construction of new railway line in the jurisdiction of East Coast Railway between Angul in Angul district, Orissa to Sukinda Road in Jajpur district , Orissa. The company acquired Bowen Energy Ltd, Australia through wholly-owned subsidiary, which has coking coal mines in Queensland, Australia.
The Ministry of Coal, Government of India allotted Andal East Coal Block jointly to the company, Jai Balaji Steel Ltd and Rashmi Cement Ltd. As per the terms of the allotment, three companies formed a joint venture company under the name and style of Andal East Coal Company Pvt Ltd for mining of coal from Andal East Coal Block.
During the year 2010-11, the company partially installed the phase II of the integrated steel plant at Orissa with the production facility of Hot Roll Coil Mill (1.90 MTPA). The company started their backward integration with capacity of 1.9 MTPA of hot rolled steed at their integrated steel plant at Orissa coupled with another capacity expansion (a brownfield one) which shall enhance the HR capacity to 4.40 MTPA by October 2012.
The company is also coming up with 0.50 MTPA ERW API pipe plant at Khopoli and 0.45 MTPA Colled Rolled Complex at Orissa which shall be ready by FY 13. In order to maintain their leadership in this segment and to maximize the margins the company proposes to set up the downstream capacity of 1.8 MTPA, where the company shall set up PLTCM of 1.8 MTPA and CAL of 1 MTPA with the capex of around Rs 5000 crore to fully utilize their additional HR capacity. In addition, the company shall also be completing the second Coke oven plant (1.3 MTPA), Coal Washery (2.5 MTPA) and 2 DRI Kilns (aggregate capacity of 0.34 MTPA) and 197 MW Power Plant of the existing site of Integrated steel plant of Orissa.