Steel Authority of India (SAIL) is shutting down two of its subsidiaries located in Uttar Pradesh and Jharkhand. The company has initiated actions for closure/exit from certain JV companies as well as subsidiaries which are either non-performing or non-operational. The closure action for two subsidiary companies viz SAIL Jagdishpur Power Plant and SAIL Sindri Projects under Fast Track Exit Mode is in progress.
SAIL is India’s largest steel producing company. The company is among the five Maharatnas of the country’s Central Public Sector Enterprises. The company has five integrated steel plants, three special plants, and one subsidiary in different parts of the country.