The Federation of India (SEFI) of the Steel Executive sought the formation of a single Maha steel unit by forming steel mills of the Steel Authority of India Limited (SAIL) and its subsidiaries with Rashtriya Ispat Nigam Limited, RINL and its subsidiary Neelanchal Ispat Nigam Limited merged, NMDC (both steel mill and mining sector) and Mecon under the Ministry of Steel.
A corresponding decision by the SEFI was taken on Sunday evening at the hit meeting in Delhi. The meeting was attended by representatives from the Officers Association of SAIL, the Steel Executives Association of Visakhapatnam Steel Plant, the Officers Association of NINL and the NMDC Steel Officers Association. This emerges from a statement by the SEA (Steel Executive Association), Visakhapatnam, which was published here on Monday.
This merger is also in line with the recommendations of the Parliamentary Committee on PSU, which were presented in March 2013, and is intended to facilitate the further expansion of steel capacities.
This would go a long way towards achieving the National Steel Policy’s goals of 300 MTPA steel capacity by 2030-31. Each of the steel mills has their strengths and weaknesses, but merging into a single entity would help them synergize their strengths and turn the weaknesses into opportunities and general benefits for the nation. Steel is an integral part of the growth rate and is a major contributor to our country’s GDP. It should be kept under the nation’s strategic sector, the news release added.