SAIL chairman urges employees to accelerate pace of turnaround

Steel Authority of India Ltd (SAIL) chairman, P K Singh has exhorted employees to complete the company's remaining modernisation and expansion projects while urging them to accelerate the pace of turnaround. The country's largest state owned steel company has been struggling since 2015-16 in the face of a slowdown in steel demand and time over runs in its ambitious Rs 70,000-crore modernisation and expansion programme.

"We have commissioned most of our new facilities; the remaining ones are poised for early commissioning. We have to focus on potential utilization of all recently commissioned units in this year," he said in his New Year address to employees.

"SAIL has overcome most of the difficulties, Singh said, adding, "we must synergise our internal processes, re-engineer our operations, improve our market orientation, organize our finances better and capitalize on our human resource to achieve our targets.”


According to recent reports, SAIL which is now ramping up production from its new units, is considering bidding for the stressed assets of Essar Steel and Bhushan Steel that are facing insolvency proceedings.