Mega Steel merger is also inline with the recommendations of Parliament Committee for PSUs submitted in the month of March 2013
Resolution for Startegic Merger of Steel PSU’s in the council meeting of Steel Executives Federation of India (SEFI) held on 04-04-2021, Sunday, at New Delhi, was attended by representatives of Officers Association of SAIL (Bokaro, Bhillai, Rourkela, Durgapur, Burnpur, Salem, Bhadravati, Chandrapur, CMO, RMD, Ranchi, Steel Executives’ Association, RINL Visakhapatnam, Officers Association of NINLDuburi and NSOA unanimously passed this resolution.
“A single Mega Steel Unit be formed by merging, steel plants of Steel Authority of India Ltd (SAIL) & its subsidiary units with Rashtriya Ispat Nigam Ltd and its subsidiary company, Neelanchal Ispat Nigam Ltd, NMDC (both steel plant and mining sector) and MECON under the Ministry of Steel.
This Mega Steel merger is also inline with the recommendations of Parliament Committee for PSUs submitted in the month of March 2013 shall be able to expand further steel capacities. This shall greatly help to realize the targets of National Steel Policy of 300 MTPA steel capacity by 2030-31. Each of steel units has its strengths and weaknesses, but merger of them into a single unit would help them to synergize their strengths and turn the weaknesses into opportunities and overall benefits to the Nation. Steel being an essential component in the growth rate and contributes heavily to the GDP of our country, it should be kept under Strategic Sector of the Nation.“