No distress sale for SAIL units: Secy

THE GOVERNMENT will not go in for “distress sale” of three SAIL subsidiaries — Salem Steel Plant, Visvesvaraya Iron and Steel and Chandrapur Ferro-alloy — and rather look for a management that will turn around the units, a senior official said.

“None of these plants we will like to put as a distress sale. We will like them to come into profit and... better management,” Steel Secretary Aruna Sharma said. Earlier, the government had in-principle approved strategic disinvestment of Steel Authority of India Limited’s Bhadrawati, Salem and Durgapur (alloy steel plants).