The Appointments Committee of the Cabinet today approved the appointment of M Bhaduri as Finance Director of Kolkata-based Hindustan Steel Works Construction (HSCL).

Bhaduri, currently working as a Deputy General Manager in Steel Authority of India’s Bhilai Steel Plant, will take over soon, a source in the Steel Ministry told PTI.

The Finance Director’s position in the state-run HSCL was lying vacant since the retirement of incumbent Abhijit Ghosh after he retired on May 31.

Bhaduri’s appointment is for five years, the source said.

The new Finance Director will have a daunting task of bringing the loss-making firm into the black. HSCL’s Rs 1,440 crore financial restructuring plan has earlier this week sent to the Cabinet for approval.

The company, which is in the business of construction of steel plant and building of infrastructure, including dams, bridges, roads and others, had recorded Rs 8.64 crore net loss in last fiscal.

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