PUBLIC SECTOR NEWS

psu-on-sale-virtual-roadshow-to-sell-neelachal-ispat-this-month

PSU on sale: Virtual roadshow to sell Neelachal Ispat this month

The Department of Investment and Public Asset Management (DIPAM) is all set to organize virtual roadshows for bidders starting September 22, 2020. The first being Neelachal Ispat Nigam (NINL) which was approved by the cabinet for sale earlier this year in January.

The roadshow will be conducted for those interested in bidding for the steel company like JSW, Tata Steel, ArcelorMittal Nippon Steel, Vedanta, Japan-based steelmaker JFE Steel, and Korean steelmaker POSCO.

Neelachal Ispat, a 1.1 million tonne (MT) integrated iron and steel plant, is situated in the iron ore-rich state of Odisha, which can be expanded to 10 MT capacity. Public sector companies like MMTC, NMDC, and Odisha state government companies hold a stake in Neelachal Ispat.

The virtual roadshows, on the back of the coronavirus pandemic, will be held for potential buyers and will be steered by DIPAM Secretary Tuhin Kanta Pandey, along with officials including CMD and representatives of Neelachal Ispat Nigam.

16 Sep 2020
sail-achieves-highest-ever-august-sales

SAIL achieves highest ever August Sales

New Delhi, 3rd September 2020: Steel Authority of India Limited (SAIL) posted its best-ever August sales performance during August 2020 at 14.34 Lakh Tonnes. Post the COVID-19 related lockdown, the Company has been witnessing an impressive sales performance which started in June’20. The sales in August have grown significantly by 35% over 10.60 lakh tonnes achieved in August 2019. SAIL’s domestic sales and exports have been at 12.40 Lakh Tonnes and 1.94 Lakh Tonnes registering a growth of 23% and 250% respectively. The growth in sales coupled with the improvement in realizations resulted in the cash collections going up for SAIL which has helped the Company in further reducing its borrowings.

Commenting on sales growth, Chairman, SAIL, Anil Kumar Chaudhary said, “Post the COVID-19 Pandemic, we had resolved to come back strong. The current sales figures are a testimony to the sustained efforts by the SAIL Collective. We were quite positive about the demand picking up as soon as the economy would return to normal. Despite the early setback, after opening up, the market has also been echoing positive sentiments and a lot of meticulous planning went into leveraging these sentiments.” Adding further he said, “The Company is totally committed to its role in contributing towards India’s growth story as well as building the ‘Atmanirbhar Bharat’. The Company has been catering to the domestic requirements of the Nation and has also gainfully utilized opportunities in the export market to maintain consistent growth momentum in its sales.”

04 Sep 2020
psu-on-sale-virtual-roadshow-to-sell-neelachal-ispat-this-month

PSU on sale: Virtual roadshow to sell Neelachal Ispat this month

By IndianMandarins 16 Sep 2020

The Department of Investment and Public Asset Management (DIPAM) is all set to organize virtual roadshows for bidders starting September 22, 2020. The first being Neelachal Ispat Nigam (NINL) which was approved by the cabinet for sale earlier this year in January.

The roadshow will be conducted for those interested in bidding for the steel company like JSW, Tata Steel, ArcelorMittal Nippon Steel, Vedanta, Japan-based steelmaker JFE Steel, and Korean steelmaker POSCO.

Neelachal Ispat, a 1.1 million tonne (MT) integrated iron and steel plant, is situated in the iron ore-rich state of Odisha, which can be expanded to 10 MT capacity. Public sector companies like MMTC, NMDC, and Odisha state government companies hold a stake in Neelachal Ispat.

The virtual roadshows, on the back of the coronavirus pandemic, will be held for potential buyers and will be steered by DIPAM Secretary Tuhin Kanta Pandey, along with officials including CMD and representatives of Neelachal Ispat Nigam.

sail-achieves-highest-ever-august-sales

SAIL achieves highest ever August Sales

By IndianMandarins 04 Sep 2020

New Delhi, 3rd September 2020: Steel Authority of India Limited (SAIL) posted its best-ever August sales performance during August 2020 at 14.34 Lakh Tonnes. Post the COVID-19 related lockdown, the Company has been witnessing an impressive sales performance which started in June’20. The sales in August have grown significantly by 35% over 10.60 lakh tonnes achieved in August 2019. SAIL’s domestic sales and exports have been at 12.40 Lakh Tonnes and 1.94 Lakh Tonnes registering a growth of 23% and 250% respectively. The growth in sales coupled with the improvement in realizations resulted in the cash collections going up for SAIL which has helped the Company in further reducing its borrowings.

Commenting on sales growth, Chairman, SAIL, Anil Kumar Chaudhary said, “Post the COVID-19 Pandemic, we had resolved to come back strong. The current sales figures are a testimony to the sustained efforts by the SAIL Collective. We were quite positive about the demand picking up as soon as the economy would return to normal. Despite the early setback, after opening up, the market has also been echoing positive sentiments and a lot of meticulous planning went into leveraging these sentiments.” Adding further he said, “The Company is totally committed to its role in contributing towards India’s growth story as well as building the ‘Atmanirbhar Bharat’. The Company has been catering to the domestic requirements of the Nation and has also gainfully utilized opportunities in the export market to maintain consistent growth momentum in its sales.”

ntpc-uk-bhattacharya-appointed-as-director-projects

NTPC: UK Bhattacharya appointed as Director, Projects

By IndianMandarins 25 Aug 2020

The NaMo administration on Tuesday cleared the appointment of Ujjwal Kanti Bhattacharya (ED, NTPC) for the post of Director (Projects) in National Thermal Power Corporation Limited (NTPC) till his superannuation i.e. 30.11.2023. He replaces Susanta Roy who retired months back. PESB had selected Bhattacharya for the post on 02 March 2020.

goa-shipyard-bk-upadhyay-appointed-as-director-operations

Goa Shipyard: BK Upadhyay appointed as Director, Operations

By IndianMandarins 25 Aug 2020

The NaMo administration on Tuesday cleared the appointment of Brajesh Kumar Upadhyay (GM, GSL) to the post of Director (Operations) in Goa Shipyard Limited for a period of five years.

The Public-sector Enterprise Selection Board had picked Upadhyay for the job in February this year.

Upadhyay is now all set to succeed K S Jagannath; the outgoing Director completing on 31 August.

nmdc-nandi-selected-for-board-level-position

NMDC: Nandi selected for Board level position

By IndianMandarins 25 Aug 2020

The Public Enterprise Selection Board (PESB) on Tuesday selected Somnath Nandi for the post of Director (Technical), NMDC Limited. Presently, Nandi works as Executive Director, Steel Authority of India Ltd (SAIL)

Subject to requisite clearance and ACC approval Nandi will take over as Director, Technical, NMDC Limited; a post that is vacant since June 1, 2019.

Altogether ten candidates were interviewed at a selection meeting held at PESB today.

konkan-railway-bhadang-selected-for-director-finance-post

Konkan Railway: Bhadang selected for Director, Finance post

By IndianMandarins 21 Aug 2020

The Public Enterprise Selection Board (PESB) on Thursday selected R M Bhadang for the post of Director (Finance), Konkan Railway Corporation Limited (KRCL). Currently, he is working as General Manager (F&A)  and Chief Financial Officer, Gujarat State Electricity Corporation Limited.

 Subject to requisite clearance and ACC approval Bhadang will take over as Director, Finance, KRCL.

Altogether three candidates were interviewed at a selection meeting held at PESB today.

gail-iyer-selected-as-director-business-development

GAIL: Iyer selected as Director, Business Development

By IndianMandarins 19 Aug 2020

The Public Enterprise Selection Board (PESB) on Wednesday selected M V Iyer for the post of Director(Business Development), GAIL (India) Limited; a post which fell vacant after the appointment of Manoj Jain as CMD, GAIL in February this year.

Altogether six candidates were interviewed at a selection meeting held at PESB today.

Presently, Iyer is working as Executive Director (Projects) GAIL (India) Limited

Subject to requisite clearance and ACC approval Iyer will take over as Director, Business Development. 

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GAIL: Manoj Jain will be next CMD

a-talking-point-in-cpses-two-women-for-board-level-positions-in-quick-succession

A talking point in CPSEs: Two women for Board level positions in quick succession

By IndianMandarins 13 Aug 2020

This is being underlined as something rare in the recent past of the Central Public-sector Enterprises (CPSEs) that two women got selected for the top job in CPSEs in quick succession. Ahead of Independence Day celebration on 15 August the senior-level executives in several CPSEs underline the developments that Central PSUs witnessed recently.

There appear mixed views and reactions but broadly they appear enthused with the selection of two women executives for board level positions in quick succession.

The public-sector-headhunter on Monday this week selected Mrs. Soma Mondal (Director, SAIL) for Chairperson post in SAIL. She would succeed S K Chaudhary on 01.01.2021. Further, PESB on 16 July 2020 selected Mrs. Renuka Gera (ED, BHEL) for the post of Director (Industrial Systems & Products), Bharat Heavy Electricals Limited (BHEL). She would replace S Balakrishnan; the outgoing Director (IS&P) retiring November this year. Be it coincidence or a considered move keeping in view their competence but it's rare that provides CPSEs reason for contentment and rejoice. 

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