SEFI Bats For Merger Of RINL With SAIL

Visakhapatnam: Office-bearers of Steel Executives Federation of India (SEFI) on Tuesday urged Union Steel Minister HD Kumaraswamy to consider the merger of Nagarnar Steel Plant (NSP) run by NMDC and Rashtriya Ispat Nigam Limited (RINL), the corporate entity of Visakhapatnam Steel Plant with the Steel Authority of India Ltd (SAIL).

SEFI is duly recognised by the Ministry of Steel and the apex national body representing around 20,000 officers of SAIL, RNL, MECON, NISP and NMDC.

SEFI chairman Narendra Kumar Banchor said under the New Steel Policy 2030 of the Government of India, SAIL has been directed by the Ministry of Steel for capacity expansion under which the company has been given a target of achieving 35 million tonne capacity by 2030. In the proposed expansion, an amount of Rs 1 lakh crore will be invested by SAIL.

He said keeping in view the expansion plans of SAIL, he brought to the notice of the Minister that the two PSUs in the steel sector namely RINL and NSP have a combined capacity of 10 million tonnes. At present both the steel plants are proposed for disinvestment and their merger with SAIL would be mutually beneficial.