SAIL Clarified It’s Stand on Loss Making Steel Plants

"Process of divestment is on. We will not close down these special units," SAIL chairman Anil Kumar Chaudhary said when asked whether the company will consider shutting down of these plants, if the steel maker does not find suitable buyers for them.

SAIL Clarified It’s Stand on Loss Making Steel Plants

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State-owned Steel Authority of India Ltd (SAIL) will not close down three of its loss-making speciality steel plants if the company does not find buyers for these units, its chairman Anil Kumar Chaudhary said.

“Process of divestment is on. We will not close down these special units,” SAIL chairman Anil Kumar Chaudhary said when asked whether the company will consider shutting down of these plants, if the steel maker does not find suitable buyers for them. Three units are functioning as per demand but operating below their optimal capacities, SAIL officials said, adding that the combined manpower in these facilities is around 1,972.

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