Steel Executives Seek Merger of SAIL, RINL, NMDC, NINL & MECON
Steel Executive’s Federation of India has sought formation of a single mega steel unit by merging steel plants of Steel Authority of India Limited and its
Steel Executive’s Federation of India has sought formation of a single mega steel unit by merging steel plants of Steel Authority of India Limited and its subsidiary units with Rashtriya Ispat Nigam Limited, RINL and its subsidiary company, Neelanchal Ispat Nigam Limited, NMDC steel plant and mining business and Mecon under the Ministry of Steel. A resolution to this effect was passed by the SEFI at a meeting in Delhi, on 4 March 2021. The meeting was attended by representatives of Officers Association of SAIL, Steel Executives Association of Visakhapatnam Steel Plant, Officers Association of NINL and NMDC Steel Officers Association.
SEFI said “This would greatly help to realise the targets of National Steel policy of 300 MTPA steel capacity by 2030-31. Each of the steel units has its strengths and weaknesses, but merger of them into a single unit would help them to synergise their strengths and turn the weaknesses into opportunities and overall benefits to the nation. Steel being an essential component in the growth rate and contributes heavily to the GDP of our country, it should be kept under strategic sector of the nation.”
SEFI added “This merger is also in line with the recommendations of Parliament Committee for PSUs, submitted in March 2013, and shall facilitate further expansion of steel capacities.”