SAIL transfers Burns Standard factory to its subsidiary [Feb 2012]

Steel Authority of India Limited (SAIL) has recently transferred Salem-based Refractory Unit of Burn Standard Company Ltd to its newly formed subsidiary SAIL Refractory Company Ltd (SRCL).
The process of transfer of BSCL’s Salem Refractory Unit as a subsidiary of SAIL was initiated on 10th June, 2010, when the Cabinet Committee on Economic Affairs (CCEA) approved the financial restructuring of BSCL, and also authorised the Department of Heavy Industries and Ministry of Steel to work out operational steps for the transfer.
SAIL has already initiated action towards manpower deployment and undertaken studies for CAPEX plans for installation of tunnel kiln, mixing machine, etc., at the newly acquired refractory unit. A previously declared non-operational shaft kiln has also been brought under operation. Action is also being taken to arrange raw material for the Salem Refractory Unit through SAIL’s central procurement system as in the case of SAIL Refractory Unit and other plants.

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