Strategic disinvestment of Salem Steel Plant approved

The plant has been consistently making losses for the last five years despite an investment of Rs 2,200 crore by SAIL

GN Bureau | November 30, 2016


#Salem Steel Plant   #Strategic disinvestment   #maharatna   #SAIL   #PSU  

The government has given in principal approval of strategic disinvestment of Salem Steel Plant (SSP) – the loss-making subsidiary of the country’s biggest steelmaker Steel Authority of India Limited (SAIL). 

 
In a written reply to the Lok Sabha, minister of state for steel Vishnu Deo Sai said that SSP, a special steel unit of SAIL, pioneered the supply of wider width stainless steel sheets and coils in the country. “The government has accorded in-principle approval of strategic disinvestment of SSP in Salem district of Tamil Nadu. SSP is a loss-making unit of Maharatna firm SAIL”, the minister said.
 
“It has been consistently making losses for the last five years despite of pumping in investment of around Rs 2,200 crore by SAIL, under the modernisation and expansion project of SSP,” the minister said.
 
The Salem plant can produce austenitic, ferritic, martensitic and low-nickel stainless steel in the form of coils and sheets with an installed capacity of 70,000 tonne per annum in cold rolling mill as well as 3.64 lakh tonne a year in hot rolling mill.
 
 
 

Comments

 

Other News

Sowing wheat earlier can help increase yields in India: US researcher

Yield gaps in wheat production in India can be countered with an earlier sowing date, says a University of Michigan researcher.   Using a new way to measure wheat yields, Meha Jain, assistant professor at the U-M School for Environment and Sustainability, found that the wheat yie

Giving birth as a Baiga

Kharpariya village, about 50 km from the headquarters town of Madhya Pradesh’s Mandla district, is like many villages in the region, home to the Baiga, deemed a particularly vulnerable tribal group (PVTG) for whom permanent contraception methods are banned to prevent extinction. However, care for p

Being the prime minister’s brother

Somabhai Modi says he remembers only one occasion when he offered his younger brother prime minister Narendra Modi advice regarding work. This, he says, was when Modi was chief minister of Gujarat. After one of his weekly grievance redressal sessions, the then chief minister had enquired after the well-b

Should ration cards not linked to Aadhaar be rendered ineligible?

Should ration cards not linked to Aadhaar be rendered ineligible?

INS Kiltan commissioned into Indian Navy

 INS Kiltan, the third anti-submarine warfare (ASW) stealth corvette built under project 28 (Kamorta class), was commissioned into the Indian Navy by defence minister Nirmala Sitharaman at the naval dockyard in Visakhapatnam.    The anti-submarine warfare stealth corvet

SAIL`s special grade steel used to build stealth corvette

Maharatna enterprise, Steel Authority of India Ltd. (SAIL) has supplied defence grade micro-alloyed grade of steel (DMR 249A) steel plates for the indigenously built anti-submarine warfare (ASW) stealth corvette INS-Kiltan commissioned into Indian Navy.    SAIL’s integ



Video

Grand Diwali celebrations in Ayodhaya on eve of diwali

Current Issue

Opinion

Facebook    Twitter    Google Plus    Linkedin    Subscribe Newsletter

Twitter