By Our Business Bureau/PIB
NEW DELHI:The Minister of Steel, Chaudhary Birender Singh reviewed the performance of Steel Authority of India Limited (SAIL) on Friday at Steel Ministry in Udyog Bhawan New Delhi.
The Minister of State for Steel Shri Vishnu Deo Sai, the Secretary Steel, Ms. Aruna Sundararajan, senior officials of the Ministry, Chairman SAIL, Shri P.K. Singh, Directors & CEOs of SAIL were present on the occasion.
The Steel Minister mentioned that the present steel market is challenging and while appreciating SAIL’s efforts to reduce cost of production asked the Company to further intensify its efforts in further cost reduction by focusing on increasing process efficiencies and higher utilisation of new units installed under SAIL’s Modernisation & Expansion Plan.
Expressing belief in the abilities of SAIL he said, “I believe SAIL can leverage its R&D strengths to the fullest for improving the performance of the steel industry in the country.” He advised SAIL to use design & product engineering to promote steel consumption by establishing steel’s cost effectiveness, quality & durability as a material for construction in sectors like infrastructure, transportation and urban development. He also exhorted that all initiatives to promote use of steel must be rolled out at the earliest as time is of essence in the fast changing business scenario.
Singh further advised SAIL to increase its exports as now SAIL has significantly enriched its product portfolio by adding new profiles and grades.The Minister in his address advised the SAIL collective to harness the full potential of its human resources by making the employees more efficient & purposeful. He expressed confidence that the present management has the will and the ability to come out of the present crisis being faced by the steel industry.
He expressed optimism that India which has emerged as the third largest producer of steel in the World will soon attain the position of second largest producer. All efforts will be made by major players like SAIL to achieve this goal. While modernizing steel plants, SAIL should also take steps to modernize its townships for its employees and their families, he said.