Roongta appointed SAIL chief

NEW DELHI: Sushil Kumar Roongta has been appointed as the chairman of Steel Authority of India (SAIL).

He was already holding additional charge as chairman of the steel PSU after VS Jain retired on July 31.

Mr Roongta was earlier the director in charge of the commercial department of SAIL.

An engineering graduate from BITS Pilani and with post-graduation in International Trade from the Indian Institute of Foreign Trade (IIFT), Mr Roongta started his career in SAIL in 1972 as sales executive in its marketing set-up. He held different positions in the company in the last 34 years and was elevated as member of the SAIL board in February ’04.

Mr Roongta also has experience in managing a steel plant as he held additional charge as managing director of Durgapur Steel Plant.

The steel giant posted a net profit of Rs 1,386.41 crore on sales of Rs 7,416.43 crore for the quarter ended June ’06.
Shares of the company closed at Rs 76.85 on the Bombay Stock Exchange on Friday.