The ailing Indian Iron & Steel Co Ltd (Iisco) will be merged with its parent Steel Authority of India Ltd (SAIL), according to the Union minister for steel, Ram Vilas Paswan.‘‘My ministry has decided to clear the proposal for merger of Iisco with SAIL, which will help in revival of Iisco in the long run,’’ Paswan told reporters after a meeting with West Bengal’s chief minister, Buddhadeb Bhattacharjee, at Writers’ Building here on Tuesday.Paswan said he had detailed discussions with Bhattacharjee on the revival of Burnpur-based Iisco, following which he has decided to clear the merger proposal. He also said that his ministry has also agreed in principle to provide the funds that will be required for implementing the merger proposal.He said ministry is investing Rs 50 crore for the revival of the ailing Alloy Steels Plant at Durgapur in West Bengal. ‘‘We have already invested Rs 40 crore and the remaining Rs 10 crore will be invested shortly,’’ Paswan said. According to him, the ministry is also making an attempt to revive the ailing unit of Hindustan Fertilisers Ltd at Durgapur by converting it into a gas-based unit. ‘‘We are in talks with GAIL, which can provide us with technical expertise and help to convert the unit into a gas-based one,’’ he said.He said ministry has also decided to link the laboratory of Bengal Immunity Ltd with Bengal Chemicals Ltd. ‘‘This will help Bengal Chemical to improve upon it R&D related jobs to a great extent,’’ Paswan said.
