SAIL signs MoU with BHP to support steelmaking decarbonisation
The Steel Authority of India Limited (SAIL) signed an MoU with the leading global resources company, BHP to support steelmaking decarbonisation.
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 central government has received about Rs 1203 crore in dividends in five tranches from five public sector companies. It included Rs 604 crore, Rs 450 crore, Rs 37, Rs 81 crore, and Rs 31 crore from SAIL, HUDCO, IREL, IRCTC, and Bhartiya Rail Bijlee Co Ltd respectively as dividend tranches.
Despite increasing its production during quarter three of 2021-22, the net profit of the company has come down from Rs 4303 crore
SAIL has supplied 48,200 Tonnes of steel for the Purvanchal Expressway which was recently inaugurated by Prime Minister Narendra Modi.
Its total expenses stood at Rs 16,406.81 crore, compared to Rs 17,312.64 crore a year ago.
The indicative price of bids that came in on Thursday was Rs 65.49, exchange data showed. SAIL closed nearly 10 per cent down on the BSE at Rs 67.25.
