16 December 2018 Current Affairs: Tata Steel Limited had 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 making it the fourth consecutive year for Tata Steel being honored with this coveted award.
Along with the trophy a cash award of Rs. 2 crores was also given to the company.
Having won the PM’s Trophy 11 times and receiving the Certificate for Excellence twice, Tata Steel has been recognized as the best-integrated steel plant 13 times, since the inception of this award in 1992-93.
The performance of the plants is judged by a Panel of Judges headed by Secretary (Steel) and with members from eminent technologists, management experts, trade union leaders, economists, consumers of iron & steel according to a scheme drawn up by an expert committee.
The intention of the award is to spur steel plants to achieve international standards of efficiency, quality, and economy in their operations.