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E-mail ID will not be published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

  • Those willfully defaulting on loans should be blacklisted by Sebi

    As reported by this newspaper’s Monday edition, the Securities and Exchange Board of India (Sebi) has found merit in the Reserve Bank of India’s s

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

Arun Kumar Jain

Kickstarting technological innovation

One of the key dimensions of global competitiveness is the ...

Kuruvilla Pandikattu SJ

Developing moral, spiritual capacity

Writing in The Huffington Post, Noam Chomsky, professor emeritus, MIT ...

Gautam Gupta

Manufacturing must keep workers’ welfare in mind

It may be early days yet, but the labour reforms ...

INTERVIEWS

William D. Green

Chairman & CEO, Accenture