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Rs.5 crore for Steel Complex

Thiruvananthapuram: Steel Authority of India Ltd. (SAIL) has provided an interest-free working capital of Rs.5 crore to Steel Complex Ltd. An official press note here on Friday said the Kozhikode-based State public sector unit would use it to purchase scrap. The products made using the scrap would be bought by SAIL. The assistance has been sanctioned by SAIL after finding satisfactory the modernisation programme being undertaken at Steel Complex Ltd. with its assistance. This follows talks between Industries Minister Elamaram Karim and Union Minister for Steel and Fertilizers Ram Vilas Paswan.

— Special Correspondent

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