The Ministry of Steel has approved the granting of Miniratna Category-I status to engineering major MECON Limited, as the Central Public Sector Enterprise (PSE) has achieved the required financial milestones which include generating continuous profits in the last three years.
Miniratna Category-I status provides enhanced financial and operational autonomy to the Board of MECON Limited. The enhanced delegation of powers will enable the Company to undertake investments, modernisation initiatives, technological upgradation and business expansion projects with greater flexibility and speed, which is expected to help the company to accelerate its growth in the future.
MECON Limited, established in 1959 and headquartered in Ranchi, is one of India’s premier engineering, consultancy, project management and contracting organizations.
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