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New Delhi, Nov. 17 In a proactive move, Steel Authority of India Ltd (SAIL) has constituted five task forces to work out strategies to make the company’s operations more attuned to existing market situations.

Company officials said that the five task forces are on production, product mix and sales; procurement of raw materials; financial management; expansion projects and, cost reduction.

The task forces have SAIL board members and the Managing Directors of its plants as members. “These task forces would suggest re-orientation of product-mix to match the supply in tune with the demand of products. They will review the demand scenario for our products and help re-orient the products-mix. They would also look for opportunities to procure cheaper raw materials like coking coal, limestone, dolomite, ferro manganese and refractories in the present downturn market,” company officials said.

Officials said that a similar exercise had been carried out around a decade ago, in the late nineties, when the Indian steel industry went through a downturn that had left several private sector companies sick and the Government had to intervene with a rehabilitation package sponsored by a consortium of public sector banks.

Though industry sources suggest that this may be a precursor to cut production because inventories have piled up, SAIL officials deny any such intention.

More Stories on : Outlook | Steel | Steel Authority of India Ltd

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