The company has also decided to set up a 0.768 MT top charged coke oven battery facility at the same location.
The government’s disinvestment programme kicked-off last week with the selling of its 5 per cent stake in the steel-maker SAIL.
It is also learnt that State Bank of India and General Insurance Corporation invested around Rs 150 crore and Rs 50 crore respectively.
Government needs to live up to its reformist claims, frame a strategic vision for PSUs
As many as 17 PSUs are without a chairman including the likes of Coal India Power Finance Corporation and NHPC.
SAIL described it as a “freak accident”, the first such event in 50 years.
The disinvestment in the steel PSU will be conducted through the offer-for-sale or auction route with sale of up to 20.65 crore equity shares.
The leakage of carbon monoxide at the plant affected 36 people.
Narendra Singh Tomar said that the government is planning a research centre for steel to benefit the industry.
100 workmen have died in a series of accidents at PSU steel makers SAIL and RINL in the two-year period until July 2014.
The incident occurred during a planned shutdown taken for carrying out rectification jobs.
SAIL too witnesses two resignations ahead of AGM today.
It is expected that the SAIL divestment will be done through the OFS route as the process can be completed faster.
Plans to up production capacity to 50 MPTA by 2025.
In the dank and dark underground coal mines of north Chhattisgarh, over 60 metres below the surface, a notice on the walls asks miners to lie down in the event of a blast.