Government accords in-principle approval for disinvestment of three SAIL units

A Steel Ministry release on Monday said that three units of Steel Authority of India Ltd. (SAIL) viz, Visveswaraya Iron and Steel Plant, Bhadravati, Salem Steel Plant, Tamil Nadu and Alloy Steel Plant, Durgapur have been accorded in-principle approval for strategic disinvestment as these units of SAIL have been consistently making losses.
 
capital investment to improve the facilities, reduction in consumption level of raw materials, production optimization and product-mix improvement, improvement in techno-economic parameters, waste management, strict control on demurrage expenses, reduction in inventory of finished/semi-finished products, stores & spares and raw materials are some of the significant steps taken by SAIL to improve financial performance of the three plants, the Ministry said.
 
The entire process of the strategic disinvestment is to be carried out with the help of Legal Adviser (LA), Transaction Adviser (TA) and Asset Valuer (AV) who would advise on an appropriate mechanism of disinvestment, it added.