PINAKI MAJUMDAR
Jamshedpur, Aug 26: It’s a memorable and historic day for Steel City of Jamshedpur.
It was on August 26, 1907, that Tata Steel was founded as it got registered in India.
The information available from Tata Steel archives revealed that the steel major was registered with an original capital of about Rs 2.32 crore.
A notice to raise the capital was issued. The response was tremendous and within three weeks the entire amount was raised.
Jamshedpurians feel proud as the company celebrated 114 years of its coming into being.
Going back to history, it all started in 1867 when Jamsetji Nusserwanji Tata, the founder of Tata Steel attended a lecture by the famous British essayist, Thomas Carlyle, in which he mentioned, “The nation which gains control of iron, soon acquire control of gold.”
Little did Carlyle know that his lecture would lead to a path-breaking journey of India’s economic resurgence.
Jamsetji’s thoughts on building a steel plant, thus, received a positive impetus.
In 1899, a report by Major Mahon recommending the steel industry be promoted in India received acceptance, and Lord Curzon, the then viceroy of India, immediately liberalised the mineral concession policy which provided a golden opportunity to Jamsetji to advance towards his dream of giving India its first integrated steel company.
In 1902, Jamsetji met Julian Kennedy, head of Julian Kennedy, Sahlin and Co. Ltd. in Pittsburgh, USA.
Jamsetji briefed Kennedy about his desire to come up with a steel plant in India.
Kennedy advised Jamsetji to have a thorough scientific investigation of the local conditions, availability of raw materials, and the market conditions in India.
He also recommended Charles Page Perin, an eminent consulting engineer in New York, for the project.
On February 24, 1904, the Tatas received a letter from Pramatha Nath Bose, an eminent Indian geologist, that spoke about the high quality of iron available in Mayurbhanj state and the availability of coal in Jharia.
In 1905, Charles Page Perin and his associate, C M Weld, presented their report as to how the steel plant would be erected. In September 1905, the Maharaja of Mayurbhanj granted the prospecting license to the Tatas.
In 1906, the Government of India through an official letter declared its intent to help Tatas by promising to purchase steel for a particular period of time, and also providing other assistance that the company would require to start its production.
In the same year, Tata Iron and Steel Company was registered in England, however, the response of British investors was not very encouraging.
Later on August 26,1907 Tata Steel got registered in India.
In 1908, the construction work of the plant began here in Jamshedpur, and steel production started on February 16, 1912.
