Steel Authority of India has announced that Prakash Kumar Singh has taken charge as Chairman of the company. Prior to this assignment, 57 year old Singh was the chief executive officer of SAIL’s Durgapur unit, a position he took over in 2012. A technocrat par excellence, Singh is regarded as an expert in blast furnace technology and operations. SAIL has incurred a net loss of R1,378 crore in H1, FY16 which includes a net loss of R1,056 crore during the second quarter. The post of permanent chairman in the company has been lying vacant since incumbent CS Verma was refused an extension by the government in June.

SAIL

• Steel Authority of India Limited (SAIL) is one of the largest state-owned steel making company based in New Delhi, India and one of the top steel makers in world.
• Incorporated on 24 January 1973, SAIL has more than 90,000 employees.
• SAIL operates and owns 5 integrated steel plants at Rourkela, Bhilai, Durgapur, Bokaro and Burnpur and 3 special steel plants at Salem, Durgapur and Bhadravathi.
• It also owns a Ferro Alloy plant at Chandrapur.