Founded by the vision and perseverance of Shri Basant Lall Shaw, NECO was originally incorporated as a small-scale Iron Foundry Unit at Nagpur in 1976 which has grown to be a pioneer in the Steel Production Industry with a turnover of more than Rs. 6000 crores.

Since last 50 years NECO has displayed itself as one of the major Steel Producers of India with installed capacity of 1 million TPA with the largest Foundry Group producing 1 lakh 75 thousand TPA of ferrous and non-ferrous castings and an Established player in Industrial valves and Auto components.