Amarendu Prakash takes charge as SAIL chairman
Amarendu Prakash has taken charge as the new Chairman and Managing Director of Steel Authority of India Ltd (SAIL) from May 31. He was previously the Director (In-charge) of SAIL’s Bokaro steel plan. Prakash was previously involved in driving business transformation and financial turnaround of SAIL, which resulted in bringing back the company from a three year streak of losses, from FY16 toFY18, to being back in the black in FYI9.
He has been leading the Bokaro Steel Plant as Director In-charge since September 2020 and briefly took on additional charge as Director In-Charge of the Rourkela Steel Plant, IISCO and Durgapur Steel Plant. Under his able leadership, the Bokaro Steel Plant has seen remarkable results, with the plant continuing to break production records, year after year in FY22 and FY23.
History of SAIL
The Steel Authority of India Ltd (SAIL) is one of the largest steel-making companies in India. It was established on January 19, 1954, with its headquarters in New Delhi. SAIL was created as a public sector undertaking (PSU) under the Ministry of Steel, Government of India, with the objective of promoting the development and production of steel in the country.
The history of SAIL can be traced back to the First Five-Year Plan (1951-1956) of India, where the government recognized the importance of developing a robust steel industry to support industrialization and infrastructure development. As a result, the Hindustan Steel Limited (HSL) was set up in 1954, which later became the flagship company of SAIL.
Over the years, SAIL played a crucial role in the growth and development of the Indian steel industry. It expanded its operations by setting up integrated steel plants in various parts of the country. The company initially focused on the production of iron and steel at its plants in Bhilai, Rourkela, and Durgapur. These plants became the backbone of the Indian steel industry and played a significant role in meeting the growing demand for steel in the country.
In the 1970s and 1980s, SAIL embarked on a major expansion plan to increase its steel production capacity. It established new steel plants, including Bokaro Steel Plant in Jharkhand, Visvesvaraya Iron and Steel Plant in Karnataka, Salem Steel Plant in Tamil Nadu, and Alloy Steels Plant in West Bengal.
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