SAIL draws up plans to cut costs
Steel Authority of India (SAIL) has charted a roadmap to turn around. In an official statement, the State-owned steel-maker has said that it will soon set an EBITDA target for the next two to three years. The turnaround goals were recently spelt out by SAIL Chairman P K Singh to company employees. He said: "Market conditions are volatile and we have to adapt to them fast, matching the world standards." The company is planning to reduce procurement and finance costs and focus on cutting operating cost of old and new assets.