Efforts on for RINL-SAIL merger: Union Minister Varma
By : K.M.P. PATNAIK
Update: 2024-09-28 08:37 GMT
Visakhapatnam: Union Minister of State for Heavy Industries B Srinivas Varma said a proposal for a merger of RINL with SAIL was one of the options being discussed to save the Visakhapatnam Steel Plant from the present crisis.
“But there are some technical issues as SAIL is a limited company. We are discussing how to solve these issues,” the minister told a section of media in New Delhi on Friday.
“We are also exploring other options,’’ the minister said explaining that there was also a proposal to sell land parcels to NMDC to enable them to set up a pellet plant and to seek loans from the State Bank of India and other PSU banks to tide over the present crisis.
He said employees also want RINL to be merged with SAIL as they felt insecure after some employees were sent to other institutions on deputation.
Regarding captive mines, he said as per the new rules, the company has to participate in the auction. “As a minister from Andhra Pradesh, there is pressure and responsibility on me,’’ the minister said.
Regarding captive mines, he said as per the new rules, the company has to participate in the auction. “As a minister from Andhra Pradesh, there is pressure and responsibility on me,’’ the minister said.