Pension fund pilferage: 4 Durgapur steel staffs arrested
An accounts department employee of SAIL's Durgapur Steel Plant was arrested today on charges of multi-crore pilferage of pension funds meant for the plant employees.
An accounts department employee of SAIL's Durgapur Steel Plant was arrested today on charges of multi-crore pilferage of pension funds meant for the plant employees.
The company’s revenue was adversely impacted by the flood of cheap Chinese imports which led to a decline in steel prices.
The Steel Authority of India Limited (SAIL) signed an MoU with the leading global resources company, BHP to support steelmaking decarbonisation.
SAIL Chairman Amarendu Prakash addressed the shareholders in the meeting, held through a virtual platform.
This will be the highest ever single investment of the central government in the steel sector surpassing the previous modernization of ISP of about Rs 18,032 crore.
The weaker domestic steel prices are also arising from increased competition from China. SAIL’s consolidated revenue from operations stood at Rs 27,958.52 crore, down 4 per cent from the previous year.
Under the policy, an employee will be allowed to work outside the workplace on a prescribed undertaking of self-development activity.
The company also achieved its highest-ever sales volume of 17.1 million tonnes during 2023-24, registering a growth of more than 5 per cent over the previous year.
on May 3 union leaders had protested against the centre's move to privatise the steel plant in Vishakapatnam
In a statement issued on Wednesday, the Railways said that two other companies that have shown interest in setting up a wheel-manufacturing plant are Bharat Forge of Pune and Ramakrishna Forging of Kolkata.
