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Sign in to searchMECON Granted Miniratna Category-I Status
Context
The Ministry of Steel has granted Miniratna Category-I status to MECON Limited, recognizing its sustained financial performance and operational excellence. The upgraded status provides greater financial and administrative autonomy, enabling the company to expand its business and take faster investment decisions.
History
MECON Limited was established in 1959 and is headquartered in Ranchi, Jharkhand. It is a Schedule 'A' Central Public Sector Enterprise (CPSE) under the Ministry of Steel. Initially created to support India's steel industry, MECON has evolved into one of the country's leading engineering consultancy, project management, and contracting organizations. It provides services in steel, mining, infrastructure, power, oil and gas, and other industrial sectors.
Salient Points
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MECON Limited granted Miniratna Category-I status by Ministry of Steel, gaining financial autonomy and ₹500 crore capital expenditure approval for accelerated growth.
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