Investments in Modernization and Expansion of SAIL should be reflected in production and profits: Narendra Singh Tomar

5 Dariya News

New Delhi 28-Oct-2014

Union Steel, Mines, Labour and Employment Minister Narendra Singh Tomar reviewed the performance of Steel Authority of India Limited (SAIL) in a meeting held at Udyog Bhawan, New Delhi today. He said, “Investments in Modernization and Expansion of SAIL should be reflected in production and profits. Performance of every Plant must be monitored on a regular basis to prevent any further delay. Quick decisions and corrective action must be taken in respect of non-performing agencies. Ministry will facilitate expediting of clearances from other centre and state government agencies. But competence and capabilities of professionals and executing agencies will have to be ensured by SAIL. Take concrete steps so that Modernization projects are concluded at the earliest.” 

The Secretary, Ministry of Steel, Shri Rakesh Singh emphasized that the proposed completion dates for different projects have to be sacrosanct and there must not be any extension of these dates. On-ground performance has to match the capital expenditure made, he added. Chairman, SAIL Shri C.S.Verma sought support for controlling of steel dumping by China, resolution of mine allotment issues, strategic intervention by Ministry of Heavy Industries and preferential consideration for coal mine allotment. The meeting was attended by senior officials from Ministry of Steel and SAIL.