The Steel Executives Federation of India urges PM Narendra Modi for merging steel public sector units like Nagarnar Steel Plant with FSNL and RINL, foreseeing socio-economic growth in Bastar. SEFI's proposal, referred to SAIL by the PMO, aligns with SAIL's expansion plans aiming to boost steel production to 35 MT by 2030-31, reports Times of India.
The Steel Executives Federation of India (SEFI) has called for a strategic merger of steel public sector units (PSUs) including the Nagarnar Steel Plant, emphasizing the potential for socio-economic advancement in Bastar, Chhattisgarh. SEFI's plea, directed to Prime Minister Narendra Modi, highlights the transformative impact of consolidating these PSUs.
In response, the Prime Minister's Office has redirected the matter to the Steel Authority of India (SAIL). SEFI underscores the significance of aligning the mergers with SAIL's expansion strategies, aiming to expedite growth while benefitting society and employees associated with these PSUs.
Narendra Kumar Banchhor, SEFI's chairman, representing around 20,000 officers linked to various steel PSUs, emphasizes the transformative potential of merging these entities. SEFI posits that this strategic consolidation could significantly contribute to achieving SAIL's ambitious production target of 35 million metric tons by 2030-31, a substantial increase from the current 20.6 million metric tons.
Banchhor asserts that this merger could lead to the formation of a massive steel PSU, aligning with the government's development agendas and potentially preventing disinvestment in these PSUs, which have been integral to the nation's progress for over six decades.
SEFI's proposition for merging steel PSUs, forwarded to PM Narendra Modi and referred to SAIL, holds promise for regional development and aligns with SAIL's expansion objectives. This strategic consolidation, if realized, could enhance steel production significantly by 2030-31, contributing to both societal growth and the steel industry's sustained development.