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Govt gives nod to outright sale of 3 SAIL special steel plants

Alloy Steels Plant, Salem Steel Plant and Visvesvaraya Iron and Steel Plant are three steel plants

Govt may ask SAIL to operate Monnet Ispat till buyer finalised

The government is examining the possibility of country's largest steel maker SAIL undertaking 'operation and maintenance' of ailing Monnet Ispat & Energy Ltd till the lenders are able to find a buyer for the company. According to a government official, however, it may not be possible for Steel Authority of India to take over MIEL which is up for sale but it would definitely explore the option of maintaining the steel plant. The lenders have already sought bids from prospective buyers but have not received good response. Only JSW Steel has expressed keenness to take over MIEL which is facing debt problem. A consortium led by SBI, sources said, has taken over the debt-ridden company and is looking for a buyer as part of the strategic debt restructuring. "Recently, it was asked whether SAIL is interested in taking Monnet if bank takes all the equity. Since they (lenders) have got just one bid they are exploring various options. As a result a few days back they ...

SAIL records highest monthly export volume of 100,000 tonnes in decade

The PSU steel maker has already exported 700,00 tonnes during the current financial year

Final call on strategic divestment of SAIL units by September

SAIL had earlier said the govt will hold auction to identify strategic buyers for its subsidiaries

SAIL scores low on employee output ratio

Efficiency as measured in output per employee at government-owned Steel Authority of India (SAIL) is well behind private sector peers JSW and Tata Steel.In 2015-16, its crude steel production capacity was 14.279 million tonnes. With 88,655 employees, this meant one employee for every 161 tonnes. JSW Steel's had 11,904 employees and produced 12.56 mt; the per-employee output was 1,055 tonnes. At Tat Steel, this metric was 2,680 tonnes.Wage cost is 21 per cent of SAIL's total cost. SAIL has trimmed its workforce by 1,000-1,500 employees annually for the past two; it announced a Voluntary Retirement Scheme in 2016. Its staff strength would be 83,000 by end-March 2017 and an estimated 79,000 by end-March 2018, still much higher than peers.SAIL's net loss for the quarter ended December narrowed to Rs 795 crore, from one of Rs 1,481.06 crore in the corresponding quarter a year before. Total expenses had risen to Rs 13,332 crore from Rs 11,759 crore in the comparative period. ...

SAIL revival hinges on cost tightening

While operating performance could improve, it may not be enough to help SAIL turn profitable

SAIL now has plans to build 520-metre-long single rail line

Indian Railways, which is procuring rails only from SAIL, has a specific demand for long rails

SAIL Q3 net loss narrows to Rs 795 cr

The total expenses of the company increased to Rs 13,332 cr

SAIL lines up Rs 4,000 cr capex for FY18

In 2015-16, the public sector undertaking had spent Rs 4,483 crore as capital expenditure

Biz environment becoming challenging for steel sector: SAIL

In this challenging environment, SAIL has identified 5 core areas on which it will focus

Retired SAIL employees to go on three-day hunger strike from Feb 7 in Delhi

The body of retired employees of SAIL is demanding a monthly payment of minimum Rs 5,000

SAIL's Rourkela unit logs record output

he stellar performance of the new units is the result of modernisation cum expansion drive taken up by RSP

ICVL to resume operations in Mozambique mine in a few months: SAIL

Work in the mine was suspended in 2015 following a crash in coking coal prices

Strategic sale of NMDC, SAIL units on cards

Officials said transaction advisers were being appointed for the sales, which were likely to materialise in 2017-18

SAIL in talks with CIL over coking coal price hike

CIL arm Bharat Coking Coal Ltd this month increased the prices of coking coal by about 20%

Low demand, 60-70% production jump in capacity poses challenge: SAIL

The production is growing almost 7-8% but demand is growing by 3%, says Chairman P K Singh

SAIL enhances rail production capacity to 2 mtpa

To meet the demand of Indian Railways besides upgrading its export portfolio

Recent coking coal price rise puts pressure on SAIL's operations

Steel maker currently meet the maximum requirement of coking coal through imports, says P K Singh

There's every possibility of pacts with global leaders: SAIL Chairman

The industry has already in the country some joint ventures between Indian and foreign companies

SAIL's Rourkela unit scales new high in hot metal output

The record hot metal output is the outcome of de-bottlenecking of crude steel making facilities