Thursday, February 13, 2014

NMDC offers RINL's ex-CMD AP Choudhary full-time advisor's post

RINL ex-CMD Choudhury
THEY say competency pays. Taking account his vast experience in Rashtriya Ispat Nigam (RINL) as a chairman, AP Choudhary has been offered a full-time advisor's position by PSU iron ore miner NMDC with an annual package of Rs 50 lakh and perquisites. Choudhary, who retired from Navaratna PSU RINL on December 31, 2013, had been at the helm of the public sector steel maker since...
August 2011. His posting, subject to approval of steel ministry, will divide his time between Hyderabad, NMDC's head office and Nagarnar, where NMDC is setting up a three million tonnes per annum (MTPA) steel plant in Chhattisgarh. He would report to the NMDC CMD. "The management of NMDC is pleased to engage you as full- time principal advisor... The period of assignment shall be initially for three years," NMDC said in an offer letter to Choudhary. The letter added, "the performance shall be reviewed at the end of each year against the milestones for continuity or otherwise."
Though Choudhary would not have any delegated financial powers at NMDC, would have full administrative powers on technical matters for the implementation of the projects in the steel plant at Nagarnar. "A consolidated amount of Rs 50 lakh per annum shall be payable for the said engagement," NMDC said. Perquisites, at par with NMDC's functional directors, would be given to him. He would also be entitled for medical facilities, a car with driver and telephone facilities.
"Since you were holding a Board level position as CMD in a PSU having dealing with NMDC, the above appointment shall be after you obtaining clearance from the Ministry of Steel," NMDC said.
RINL has recently been allocated one iron ore mine in Rajasthan and three in Andhra Pradesh though none of them are operative yet.
Choudhary had joined RINL in June 2009 and had been serving the company as director (production). He was earlier executive director (projects) at Steel Authority of India Limited (SAIL). RINL attained Navratna status in 2010. Chaudhury helped bring stability in strategy and leadership of the company.

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