Goa close to heart, says Sesa Sterlite
PTI, PANAJI | 23 September 2013 10:53 IST
Though Sesa Goa has changed its name to 'Sesa Sterlite', dropping the word 'Goa', but the coastal state still remains close to the heart of Panaji-headquartered company, a top executive has said.
"The identification of Goa will not vanish. The company will always remain close to Goa," Sanjiv Verma, Head (Corporate Communications), Sesa Sterlite, told reporters last night.
The name of Sesa Goa was changed to Sesa Sterlite Ltd from September 18.
The name change is consequent to the approval of the scheme of merger and restructuring of Sterlite Industries (India) LtdBSE 2.79 %, Madras Aluminium Company Ltd, Sterlite Energy Ltd, Vedanta Aluminium Ltdand Sesa Goa Ltd.BSE 1.51 %
Sesa Sterlite, which looks after the mining of iron ore in Goa, would now be called as Sesa Iron Ore.
"Although the name Goa has been deleted, the company will always remain Goan as it has been," said Verma.
One of the biggest exporters of iron ore from Goa, the annual total revenue of Sesa Goa for FY 2012 was Rs 8,545 crore, which dipped to Rs 2,608 crore in FY 2013 due to ban on mining.
The company, which exports 14 million tonnes of iron ore annually, has been shipping it to destinations like China and Japan.
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