Friday, Jun 17, 2005
Friday, Jun 17, 2005 |
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Indrani Dutta
KOLKATA: Developing a corporate plan for Indian Iron and Steel Company (IISCO) and trying to synergise the strengths of the hitherto ailing plant with that of some of the other subsidiaries of Steel Authority of India Ltd (SAIL) like Durgapur Steel Plant (DSP), will be among the priority areas of action, said the Chairman of SAIL, V. S. Jain. Talking to The Hindu after the government cleared the merger of IISCO with SAIL, Mr. Jain said IISCO's corporate development plan would be developed in a manner that would benefit and complement both the West Bengal-based plants. "So far, as a subsidiary, IISCO's growth was in a segmented manner, now it will be an extension of SAIL", he said. Indications were that the merger with the parent company would be effective April 1, 2005. SAIL was also keen to have a dialogue with the Jharkhand government for renewing the lease of the iron ore mines, which had been a contentious issue of late between the steel major and the State government. The mines at Gua, Chiria and Manoharpur in Jharkhand were considered to be Asia's largest iron ore reserves.
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