Rashtriya Ispal to pick stake in sick PSU firms

The five ailing state-run companies — Orissa Mineral Development Corporation (OMDC), Bisra Stone Lime Co (BSLC), Karanpura Development Co (KDCL), Scott & Saxyby (SSL) Eastern Investments Ltd (EIL) — also known as the Bird Group of Companies.

“The steel ministry will soon move the Cabinet with a plan to revive the Bird Group of Companies in which Rashtriya Ispat Nigam Ltd (RINL) will acquire majority stake,” a senior steel ministry official told PTI.

The official note for the proposal is ready and would be sent to the Cabinet shortly, he said. The firms would be made RINL’s subsidiaries, he added.

Liked the story?

  • 0

    Happy
  • 0

    Amused
  • 0

    Sad
  • 0

    Frustrated
  • 0

    Angry