JSW Steel Vice Chairman and Managing Director Sajjan Jindal was honored this week with the prestigious 19th Willy Korf/Ken Iverson Steel Vision Award as part of the annual Steel Survival Strategies conference in New York.
The award, named for industry pioneers Willy Korf and Ken Iverson, was developed to honor the memory of the two industry leaders, both of whom demonstrated tremendous vision, innovation, and willpower to alter the course of world steel. The award is presented annually to an individual who has made a major contribution to the steel industry in terms of advancing change, while at the same time promoting goodwill and integrity in the industry.
Jindal was selected as this year’s recipient for elevating JSW Steel amongst the selected few global steel producers. Accepting the award, he reflected on his good fortune to be in one of the world's few growing steel markets, noting that most regions continue to experience negative growth, sharply negative in some cases. The only exceptions were China, with "more or less flat growth" of just 0.6%; and India, which boasted 9.5% growth.
"I feel very fortunate that at this time in the steel cycle, I am in India and expanding our business in an expanding market," said Jindal. “It is also important for the global steel industry to strengthen the supply chain if it is to come out from the present global economic crisis in a stronger and more stable state,” he added.
Attributing India’s increasing steel usage to Government policies that were providing “tremendous incentives” to the steel industry, Jindal said, “The India Government’s incentives have given tremendous boost to the growth among the country’s rural masses, and not just among urban dwellers.”
Elaborating on JSW Steel’s employment of latest technologies at its plants in India, he said, “I am an engineer myself, so I enjoy this innovation in our plants."
Jindal added that he would be happy not to be the only one smiling at the 2010 Steel Survival Strategies conference. "Friends, I hope next year when we meet here the morale and the mood of the people won't be as somber as it is this year," he said.
JSW Steel Ltd., belonging to JSW group, part of the O P Jindal Group, is one of the lowest cost steel producers in the world. JSW Steel is engaged in manufacture of flat and long products including hot and cold rolled coils, galvanized and color-coated products, auto grade / white goods grade CRCA Steel, Bars and Rods. Incorporated in 1994, JSW Steel has the largest galvanizing and color coating production capacity in the country and is the largest exporter of galvanized products with presence in over 74 countries across five continents.