No distress sale for SAIL units Steel secretary

NEW DELHI: Government will not go in for "distress sale" of three SAILBSE 0.51 % subsidiaries -- Salem Steel Plant, Visvesvaraya Iron and Steel and Chandrapur Ferro-Alloy -- and rather look for a management that will turn around the units, a top official said. "None of these plants we will like to put as a distress sale. We will like them to come into profit and... better management," Steel Secretary Aruna Sharma told PTI.
 
Earlier, the government had in-principle approved strategic disinvestment of SAIL's Bhadrawati, Salem and Durgapur (alloy steel plants). Economictimes

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