Govt approves disinvestment of SAIL subsidiaries

Three units of SAIL namely Visveswaraya Iron and Steel Plant (VISP), Bhadravati, Salem Steel Plant (SSP), Tamil Nadu and Alloy Steel Plant (ASP), Durgapur have been consistently making losses

GN Bureau | March 30, 2017


#Vishnu Deo Sai   #PSU   #SAIL  


The government has accorded in-principle approval for strategic disinvestment of three units of Steel Authority of India Limited (SAIL), a Maharatna PSU, namely Visveswaraya Iron and Steel Plant (VISP), Bhadravati, Salem Steel Plant (SSP), Tamil Nadu and Alloy Steel Plant (ASP), Durgapur. 
 
The above mentioned units of SAIL have been consistently making losses, a PIB release said. The strategic disinvestment would be carried out with the help of a transaction adviser, a legal adviser and an asset valuer. 
 
Minister of state, ministry of steel Vishnu Deo Sai informed Rajya Sabha recently about the development.
 
Alloy Steel Plant (ASP), Durgapur has been consistently making losses for last five years. Despite investment of around Rs 400 crores, VISP is making losses for last 10 years. Similarly, despite investment of around Rs 2,200 crore under modernisation and expansion, SSP is making losses for last five years.
 
A major modernisation and expansion programme has been carried out simultaneously at all the five major plants -- Bhilai, Bokaro, Rourkela, Durgapur and Burnpur and special steel plant at Salem. The Expansion Plan, besides capacity enhancement from 12.8 Mtpa to 21.4 Mtpa of crude steel, adequately addresses the need of SAIL plants towards eliminating technological obsolescence leading to improvement in operational efficiency.
 

Comments

 

Other News

How Rafi, Raj Kapoor helped pave the way for a great uranium deal

There`s a certain moment in diplomacy that`s too personal to be captured in a communiqué, too small to make the front page, but more revealing than the front page. This week, prime minister Narendra Modi reached Tashkent and, amid the pomp of state visits, managed to evoke the old Bollywood tunes

Distinguishing Fish 1 and Fish 2: The pragmatism behind India’s WTO ratification

 India became the 123rd WTO member to ratify the multilateral Agreement on Fisheries subsidies (AoFS) when it deposited the Instrument of Acceptance for Phase 1 on July 20, 2026. The ratification is restricted to disciplining Illegal, Unreported and Unregulated fishing (IUU), protection for overfished

The 7% growth problem: Why the next 7% will be harder

India has become accustomed to hearing the 7% growth number. It is now less a milestone than an expectation. Yet the paradox is becoming clearer: maintaining 7% growth may be considerably harder than achieving it once. India’s real GDP grew 7.7% in FY2025–26, following growth of 6.5% in FY202

The Constitution cannot be altered: Justice Abhay Oka

Justice Abhay Oka, who retired from the Supreme Court in May 2025, has said that the Constitution of India cannot be altered. Explaining the landmark Kesavananda Bharati judgment (1973) on the basic structure of the Constitution, he said, “This is one judgment that has saved democracy in India.&rdq

How the flora and fauna evolved in the Indian subcontinent

Mammals of India  By A.J.T. Johnsingh and P.O. Nameer HarperCollins India in association with Bombay Natural History Society  

India`s renewable race is moving beyond megawatts

When Shell bought Sprng Energy in 2022, India`s renewable energy market appeared to offer precisely what global energy majors were seeking: scale, growth and a place in one of the world`s largest energy transitions. Four years later, Shell is selling the same business to Aditya Birla Group for an enterpris

Upcoming Conferences



-->

Archives

Current Issue

Opinion

Facebook Twitter Google Plus Linkedin Subscribe Newsletter

Twitter