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

3 out of 4 Covid-19 patients in 21-60 yrs age group

Contrary to the perception that the elderly are more at risk from Covid-19, in India as many as 41.88% of corona positive cases are between 21 to 40 years of age. Also, 32.82% positive cases are between 41 to 60 years, followed by 16.69% cases above the age of 60 years and 8.61% coronavirus positive cases

Why everyone should wear mask

In view of the increasing number of COVID -19 cases in the country, the ministry of health and family welfare (MoHFW) has now advised that everyone must voluntarily wear a mask and especially those living in densely populated areas.   Not just as a matter of maintaining personal hygiene

Fighting Covid-19, India has realized its collective strength: PM

In the face of the Covid-19 pandemic, people of India have realized their collective strength, prime minister Narendra Modi said in a short video message Friday morning. He also urged people to light lamps Sunday night as a gesture of this collectivity. “Today marks nine days of the na

COVID-19 demobilisation: Lessons for public governance

Demobilization, like its predecessor – demonetization, is another decision gone bad in implementation.  In both instances a careful public administrative action through its governance systems could have saved the magnitude of impact particularly on the most vulnerable sections of the society. Th

Don’t fear Corona, fight it

In a bid to break the “chain of transmission” of the deadly Covid-19, India, a country with more than 1.3 billion population, observed a voluntary ‘Janata Curfew’ on March 22. This has been followed by a 21-day, nationwide lockdown from March 24. Prime minister Narendra Modi also re

Sci-Tech Empowered Committee set up for COVID-19

To take speedy decisions on research and development for Sars-Cov-2 virus and COVID-19, the government has constituted a Science and Technology Empowered Committee. The committee, set up on March 29 and chaired by Niti Aayog member, professor Vinod Paul and professor K Vijay Raghavan, princi



Archives

Current Issue

Opinion

Facebook    Twitter    Google Plus    Linkedin    Subscribe Newsletter

Twitter