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SAIL, RINL officials to visit Australia
Our Bureau
New Delhi, Sept. 20 Officials from Steel Authority of India Ltd (SAIL) and Rashtriya Ispat Nigam Ltd (RINL) will be visiting Australia shortly to negotiate acquisition of coking coal assets.
At a review meeting here on Thursday, Mr Ram Vilas Paswan, Minister for Steel, Chemicals and Fertilisers, was informed that SAIL was in touch with at least thee coal companies in Australia, while RINL was looking at assets in Indonesia.
Both the public sector steel companies heavily depend on coal imports for meeting their requirements and earlier this year the Minister had led a delegation to Australia to explore opportunities of acquiring coal assets.
“Those units whose year-on-year and quarter-on-quarter performance has improved must be given some incentives while those units lagging behind must be pulled up. Also someone has to take responsibility for the slippages either at the corporate headquarters or at the plant level.” Mr Paswan said.
He added that plants where the growth rate is below last year’s level for no justifiable reason or whose performance on techno-economic parameters is not favourably comparable with their peers, should try to improve their performance in the second half of the current financial year.
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