`Exports can help increase SAIL profit'

Special Correspondent

BHADRAVATI: The Chairman of Steel Authority of India Ltd. (SAIL), V.S. Jain, has said that ways to tap the high export potential of steel should be found. In a brief chat with presspersons here on Friday, he said that if the potential is tapped, SAIL could improve its profitability.

Mr. Jain said SAIL, which has set a target of making a profit of Rs. 6,800 crores in the last fiscal year, is confident of maintaining it at the same level this year. Efforts will be made to earn a higher profit, he said. Emphasising that the main objective of SAIL is to maintain the quality of steel, Mr. Jain said that with a proactive and determined workforce, it is confident of achieving it. He expressed confidence over the performance of Visvesvaraya Iron and Steel Ltd. (VISL), a unit of SAIL, and said that within two or three years, it will earn a profit after wiping out losses. He said Rs. 300 crores has been allocated for the development of SAIL.

Earlier, Mr. Jain inaugurated Sir M. Visvesvaraya Museum developed in the old Chairman's bungalow as a tribute to the founder of the VISL, M. Visvesvaraya, engineer and statesman, who served the unit as its first Chairman from 1923 to 1929. Mr. Jain visited the VISL steel plant and held discussions with the representatives of the employees' associations.

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