Incorporated as a private limited company and converted into a public limited company in Nov.'85, Nagpur Engineering Company (NECO), the flagship of the NECO group, was promoted by Basant Lall Shaw and Arvind Kumar Jayaswal. Company is lead by Basant Lall Shaw as chairman and Arbind Jayaswal as managing director._x000D_ _x000D_ Commercial operations commenced in 1976 to manufacture cast iron pipes and fittings by setting up the first foundry at Nagpur. It specialised in the manufacture of grey iron castings for railway tracks such as sleepers, brake blocks, bearing plates and municipal/public works castings such as soil/rain water pipes and fittings, manhole covers, etc._x000D_ _x000D_ In 1987, the second foundry unit was established at Bhilai, MP. With a further increase in demand, the third unit was established in Anjore, MP, in 1991._x000D_ _x000D_ To diversify its activities, NECO purchased a newly erected solvent extraction plant with a crushing capacity of 200 tcd and refining capacity of 25 tpd in Mar.'93. This was subsequently enhanced to 500 tcd and 50 tpd respectively. The company came out with a public issue in Dec.'94 to fund the expansion-cum-modernisation._x000D_ _x000D_ In 1995-96, the company proposed to set up a coal washery project in the Chhindwara district of Madhya Pradesh with a capital outlay of Rs 41 cr._x000D_ _x000D_ During the year ended Dec'96, the company has approved the scheme of Amalgamation of Nagpur Alloy Castings Ltd along with Jayaswals Neco Ltd into the company w.e.f 1st Apr'96._x000D_ _x000D_ The company has been granted ISO 9002 Certification during the year 1998-1999, for Engineering Castings Division, Centricast Division and Steel Plant Division. A new Subsidiary Company "NECO GLOBAL INC." has been formed in the State of Texas, USA, inorder to offer better services to the customers and also to expand export market further._x000D_