Chennai, Jan 6 (IANS) Steel authority of India chairman C.S. Verma Thursday received the Icon of the Year award from the Institute of Cost and Works Accountants of India (ICWAI) at a function here.
The award was presented to the chairman of the ‘maharatna’ or a gem among India’s state-run enterprises, by Corporate Affairs Secretary R. Bandyopadhyay at the inaugural day of the 52nd National Convention of the institute.
Verma was chosen for being a role model for the profession by achieving success in the field he is involved with, as also for leading his team from the front in his capacity as chairman and managing director, the institute said.
The company, in the past, has been appreciated by the institute for excellence in cost reduction.
The state-run company owns and operates five integrated steel plants at Bhilai, Bokaro, Durgapur, Rourkela and Burnpur, and three special steel plants at Salem, Durgapur and Bhadravati.
It is currently implementing a major modernisation and expansion plan in its plants and mines to take its hot metal production capacity to 23.46 million tonnes by 2012-13 that involves a capital outlay of about Rs.70,000 crore ($15.5 billion).
