Shashank Shekhar
Bokaro ( Jharkhand) : Presenting an optimist picture of turning the financial wheel in favour of Bokaro Steel Plant in Jharkhand, which suffered a loss of Rs 203 crore in 2016–17, Chief Executive Officer (CEO) P K Singh stated that with several fresh initiatives taken he is sure that by end of the current financial year (2017—18) BSL will not only bridge its present loss but will start running in profit.
Singh was talking to mediapersons at a pressed convened by him where he informed the reporters about fresh initiatives taken by the steel plant. Giving the reasons for big loss suffered by the BSL in the last two financial years, the CEO said that this was due to glut in steel market on global level, rise in cost of imported coke from Australia and dumping of Chinese and Korean steel in India at very cheap rate compared to prevalent rate which resulted in a loss of more than Rs 4,000 to the SAIL in which BSL’s share was Rs 2,100 crore. As of now, BSl presently produces 4 million tons of steel per year which is expected to touch 4.25 million tons, Singh informed .
The CEO informed that several measures have been taken by the steel plant which include production from two new cold rolling mills from August, cut in unnecessary expenses, increase in production of steel from different shops of BSL including Coke oven, hot and cold rolling mills and other units. “We are trying to bring back our old glory of profitability witnessed by BSL from 2005 to 2011 for which all BSL employees are putting up their best,” stated the CEO.
Besides the CEO, executive directors S K Singh, H P Singh, R Krishna Swamy, Bokaro general hospital director A K Singh, general manager Rajbir Singh, chief of communications Manikant Dhan and other senior officers were present on the occasion.