3 SAIL plants to be disinvested

Entire process of the strategic disinvestment is to be carried out with the help of transaction adviser, legal adviser and asset valuer

GN Bureau | July 18, 2017


#disinvestment   #SAIL  
The government has accorded in-principle approval for strategic disinvestment of three units of Steel Authority of India Limited (SAIL) viz, Visveswaraya Iron and Steel Plant, Bhadravati, Salem Steel Plant, Tamil Nadu and Alloy Steel Plant, Durgapur. The government has decided to go for the disinvestment due to consistent losses being incurred by the said steel units.
 
Significant steps taken by SAIL to improve the financial performance of the three plants include: capital investment to improve the facilities, reduce consumption level of raw materials, produce optimisation and product-mix improvement, improve techno-economic parameters, address waste management issues, and reduce inventory of finished/semi-finished products, stores and spares and raw materials, reduce logistic cost for transportation of raw materials and finished steel and reduce specific power and water consumption.
 
The entire process of the strategic disinvestment is to be carried out with the help of Transaction Adviser (TA), Legal Adviser (LA) and Asset Valuer (AV) who would advise on appropriate mechanism of disinvestment.
 
The minister of state, ministry of steel, Vishnu Deo Sai provided this information in reply to a question in Lok Sabha.
 

Comments

 

Other News

Aero India 2019 kicks off in Bengaluru

Five day long Aero India -2019 organised by Hindustan Aeronautics Limited (HAL) was inaugurated at Air Force Station, Yelahanka, Bengaluru on Wednesday.   The French origin Rafale fighter jets are also participating in the event.   Asia’ largest

BHEL builds India’s first regenerative 5,000 HP electric locomotive

In a major technological breakthrough, BHEL has developed the country’s first such regenerative 5,000 horse power (HP) WAG-7 electric locomotive with a modern regeneration system for Indian Railways.   The electric loco was flagged-off by member traction, railway board, Gha

Prime Minister dedicates Rs 33,000 crore projects in Begusarai

Prime Minister Narendra Modi dedicated a host of developmental projects at Ulao airport in Begusarai, Bihar. Modi said these projects will fuel the progress of Bihar and the eastern states. He said that Bihar had the potential to play a pivotal role in driving the growth of the country. “The

IOCL finalises term contract for import of US crude oil grades

IndianOil Corporation has finalised a term contract for import of up to three MMT (million metric tonnes) of crude oil of US origin grades to diversify term crude sources in 2019-20 fiscal. The enterprise has finalised the contact on February 15, 2019.   The value of the cont

For a healthy tomorrow

When Dr Shruti Kamdi (pictured on left), a transfusion specialist at a leading Mumbai hospital, had her first child, she struggled to nurse her baby as she was unable to secrete enough milk. Admitted to a private hospital, she was put on medication to increase breast milk. But that didn’t help much.

Reinvigorating reinsurance

After the liberalisation of the insurance industry in 2000, private firms (mostly in partnerships with foreign firms) have readily taken to the sector. Till FY18 there were 23 private firms in the life insurance sector and 21 in general insurance segment. However, it was only in 2016-17 that the first priv

Current Issue

Current Issue

Video

CM Nitish’s convoy attacked in Buxar

Opinion

Facebook    Twitter    Google Plus    Linkedin    Subscribe Newsletter

Twitter