Once the undisputed leader, SAIL has been outrun by private sector peers JSW and Tata Steel. But the rejuvenated steelmaker is back in the black and eyeing the top spot.
“It was really unfortunate... and I had to face it soon after I took charge. But we have become more careful now. We are doing whatever lies within our realm so that not even a single fatality happens at SAIL in the future. All our plants have been given strict instructions that no production will happen at the cost of safety,” he says.
Will Tailwinds Help?
If the Bhilai incident was baptism by fire, the new chairman has seen a lot of tailwinds as well. For instance, in spite of the tepidness around last year’s festive season that impacted consumer-centric sectors, domestic demand for steel was on the rise, pushing prices up considerably. During April-January 2018/19, India’s consumption of total finished steel stood at 79.98 million tonne (MT), a 7.8 per cent increase over the year-ago period, according to provisional data released by the Joint Plant Committee. The dark days of big imports (of cheap steel) and commodity dumping by China are no longer plaguing the industry. Better still, SAIL’s financial health seems to be on the mend.
Denne historien er fra June 16, 2019-utgaven av Business Today.
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Denne historien er fra June 16, 2019-utgaven av Business Today.
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