State-Owned Steelmaker to Dissolve its Raw Materials Division

The company’s mines located in Odisha will be under the administrative control of RSP, whereas the ones on Jharkhand will be under the control of BSP.

SEATTLE (Scrap Monster): The state-owned Steel Authority of India Limited (SAIL) announced its decision to dissolve its raw materials division (RMD) headquarters located in Kolkata, West Bengal. The official announcement is yet to be made. The move is expected to result in cost saving of approximately INR 40 crore per year.

As per reports, PTI was informed by sources regarding the decision by the company’s board to dissolve the RMD. Consequently, it will transfer control of its mines to Rourkela Steel Plant (RSP) in Odisha and Bokaro Steel Plant (BSP) in Jharkhand. The company’s mines located in Odisha will be under the administrative control of RSP, whereas the ones on Jharkhand will be under the control of BSP.

ALSO READ:

SAIL Foresees Uptick in Steel Demand and Prices

State-Owned SAIL Reduced Debt Significantly

The Bolani, Kalta, Taldihi and Barsuan iron ore mines in Sundargarh and Keonjhar districts of Odisha will be managed by RSP. Also, the Chiria, Megatburu, Kiruburu, Gua, Bhavnathpur and Kuteswar mines in Jharkhand will be under the administrative control of BSP.

The decision is feared to impact contractual employees associated with the unit. A section of these employees have reportedly sought the intervention of Chief Minister Mamata Banerjee on the matter. Meantime, non-contractual employees will be shifted either to RSP or BSP. In addition to job losses, the move is feared to impact supply of raw materials to Durgapur and Burnpur steel plants.

• Panama President Sees No Environmental Threat from Copper at Closed First Quantum Mine
• Consumers Sue Exxon, Dow, Others over Plastic Recycling Claims
• VLS Environmental Solutions Announces Acquisition of Clearfield MMG in Virginia
• December 19, 2024: Scrap Gold and Platinum Prices Dipped, Silver Up on the Index