Industry & Economy
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Steel
SAIL to finalise IISCO corporate plan by May
Pratim Ranjan Bose
Kolkata
,
April 19
STEEL Authority of India Ltd is set to finalise a corporate plan for Indian Iron and Steel Company Ltd, latest by May. SAIL sources told Business Line that, apart from finalising the investment requirements, the corporate plan would also identify ways and means of integrating IISCO with the SAIL family.
The sources said that while stress was being laid on modernising the plant and increasing capacity, the company was likely to adopt a phase-wise investment approach.
The expansion would be carried out in such a way that the plant's profitability would not be affected due to high depreciation, they added. Asked whether the company was considering integrating IISCO's business activities with Durgapur Steel Plant, as both are long item producers and are located within 50 km of each other, the sources said that emphasis was being laid on better integration in marketing.
"While pursing an expansion plan at its existing facilities, SAIL is now open to inorganic growth," the sources said, citing the company's latest bid to acquire a strategic stake in MMTC-promoted Neelachal Ispat Nigam Ltd.
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