India: SAIL to Scale Down its Operations Across all its Plants Amid Lock Down

The government-owned Steel Authority of India Ltd (SAIL) is likely to lower capacity utilization during the period of lock down mentioned in the official statement shared with BSE. Thus the company may scale down their operations in all its units amid disruptions due the issues with availability of raw materials, limited logistic support and sales constraints.

The overall adverse impact on the operations of the company during the period of this lock-down and expected financial impact, is not immediately ascertainable at this stage.

This is being done as a precautionary measures across all its plants to support nationwide lock-down amid spread of COVID-19 outbreak.

Also the company mentioned that they are closely monitoring the situation and taking appropriate action from time to time keeping in view the interest of the company, health and safety of all employees and their families and the nation at large.

Meanwhile the company expects to resume its operations as soon as the situation permits.

SAIL has an installed annual steel making capacity of around 21 MnT p.a