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

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