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Print- Odisha Mining Corporation Limited (OMC) was born on 16th May’ 1956 as a joint venture Company of Govt. of Odisha and Govt. of India to explore and harness mineral wealth of the State of Odisha and make value addition.
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Subsequently on 17th Nov’1961, OMC became a wholly State-owned Corporation of Govt. of Odisha.
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The Authorised Capital of the Corporation is Rs. 100 crore and the Paid Up Capital is Rs. 31.45 crore.
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The major minerals mined by OMC are chrome, iron and manganese ore which cater to the requirement of mineral based industries such as steel, sponge iron, pig iron, ferro-manganese, ferro-chrome, etc.
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The growth of OMC has been impressive over these years and today it stands as the largest State PSU in the mining sector of the country. It recorded the highest turn-over of Rs. 2756 crore in 2010-11.
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As on date, OMC is a 100% Debt-free Company.
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OMC is managed by a Board of Directors consisting of Government Directors and Independent Directors. The day-to-day management of the Corporation is looked after by the Chairman and the Managing Director as authorized by the Board of Directors.
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OMC has adopted SAP software, an ERP tool, since 2004 to streamline its business processes, bring synergy in functional activities across the organization, handle numerous business locations and expanding volumes. It also helps in bringing greater transparency in financial transactions and effective monitoring and financial control enabling the organization to take informed and timely decisions. For successfully implementing the ERP package, OMC was awarded with the Golden Peacock Award in 2006-07 by the Institute of Directors, New Delhi.
- The Odisha Mining Corporation Ltd. has been classified as a “Gold” Category State PSU.
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- [Editor:Sophie]
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