High-level panel asks SAIL to increase international presence

Tags: SAIL, News
Noting that exports by SAIL are likely to go up in coming years, a high-level panel has asked the state-run PSU to look into possibilities of strengthening presence in international market by setting up offices abroad.

"SAIL maintains a strategic presence in foreign markets and has been exporting around 3-5 per cent of its saleable steel production during last few years. With higher production capacities of SAIL plants post expansion and modernisation, share of exports is likely to go up in future," the Parliamentary Standing Committee on Steel and Coal has said.

The Kalyan Banerjee-headed panel in its latest report has asked the Steel Authority of India (SAIL) to explore the possibility of opening international marketing offices in order to increase its presence in the global market on the pattern of Rashtriya Ispat Nigam Ltd (RINL).

The panel said RINL products are well accepted in the international market.

"In order to tap new market, RINL is proposing to open its first international market office at World Trade Centre at Colombo, Sri Lanka," it said.

SAIL has an ambitious expansion plan and it is investing Rs 72,000 crore to enhance capacity by around 10 million tonnes per annum (MTPA) to 24 MTPA.

The ongoing expansion is likely to be completed next fiscal.

Post new comment

E-mail ID will not be published
CAPTCHA
This question is for testing whether you are a human visitor and to prevent automated spam submissions.

EDITORIAL OF THE DAY

  • Banks must learn from past mistakes to promote financial inclusion

    Prime minister Narendra Modi launched a massive financial inclusion programme yesterday titled “pradhan mantri jan dhan yojana’ (PMJDY), that will

FC NEWSLETTER

Stay informed on our latest news!

INTERVIEWS

GV Nageswara Rao

MD & CEO, IDBI Federal Life

Timothy Moe

Goldman Sachs

Chander Mohan Sethi

CMD, Reckitt Benckiser India

COLUMNIST

Tushar Gandhi

Could prohibition mean profiteering?

In the mid 1930s, an American journalist asked Bapu if ...

Zehra Naqvi

The five universal languages of love

Love is a universal language. Don’t we all believe that? ...

Dharmendra Khandal

Time to protect our endangered wildlife species

After 65 million years of existence, the earth’s biodiversity is ...

INTERVIEWS

William D. Green

Chairman & CEO, Accenture