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

Ashish Shelar of BJP says, “We are very confident…”

Ashish Shelar, 47, is the president of the Mumbai city unit of the BJP. He is also the minister of school education, sports and youth welfare in the Maharashta government. He has represented the Vandre West constituency in the state assembly and seeking re-election. In a chat with Geetanjali Mi

Nobel for economics goes to `global fight against poverty`

The Nobel Prize in economics for 2019 goes to Abhijit Banerjee, Esther Duflo and Michael Kremer "for their experimental approach to alleviating global poverty." The prize, known as “The Sveriges Riksbank Prize in Economic Sciences in Memory of Alfred Nobel”, was announc

Modi-Xi script a new chapter in bilateral relations

Prime minister Narendra Modi has accepted president Xi Jinping’s invitation to visit China in 2020 for their third informal summit after Wuhan and Mamallapuram, indicating both sides’ realization of the importance of the mechanism which gives the two leaders of the Asian giants an opportunity t

Dharma as the original Idea of India

Dharma: Hinduism and Religions in India By Chaturvedi Badrinath Edited by Tulsi Badrinath Penguin, 194+ xiii pages, Rs 499 How to live: That is the most fundamental question of human existence.

Prakash Ambedkar on why he wants other parties to mention the candidates’ community

Prakash Ambedkar, grandson of Dr BR Ambedkar and popularly known as Balasaheb Ambedkar, heads the Vanchit Bahujan Aghadi (VBA). The three-time MP founded this new political party last year with a vision of Ambedkarism, secularism, socialism and progressivism. The VBA, registered this year before the Lo

Maharashtra, Haryana polls: parties spent Rs 280.72 crore on publicity

Political parties that contested the Maharashtra and Haryana assembly elections in 2014 spent the largest part of their expenses, Rs 280.72 crore (77.35 percent), on publicity, shows an analysis by the National Election Watch (NEW). This was followed by Rs 41.40 crore on travel expenses, Rs 22.59 crore on



Current Issue

Current Issue

Video

CM Nitish’s convoy attacked in Buxar

Opinion

Facebook    Twitter    Google Plus    Linkedin    Subscribe Newsletter

Twitter