Under a new chairman, India’s largest steel-maker SAIL plans to spread its wings over the global landscape and produce speciality steel for nuclear power plants, defence and the space sector.
The Rs 40,550-crore Maharatna public sector unit will also look at global acquisition of raw material resources, C.S. Verma, 51, told reporters on Friday after taking over as SAIL chief. “My first priority would be that SAIL makes all types of steel... In the power sector, a lot of nuclear forging will be required, defence is there, space is there... I would like to foray into all these areas,” he said.
SAIL, which is on the government’s disinvestment agenda through a follow-on share issue, will go in for acquisition of raw material resources, like iron ore mines and coal. “Inorganic growth is also important for SAIL,” he said. —PTI