Sail pays interim dividend of Rs. 567.15 crore to the government

Steel Authority of India Limited (SAIL) today presented a cheque of Rs. 567.15 crore towards Interim Dividend to the Government of India for the financial year 2006-07. The cheque was handed over to the Minister of Steel, Chemicals & Fertilizers Shri Ram Vilas Paswan by SAIL Chairman, Shri S.K Roongta here today.

This year’s interim dividend is 16% compared to 12.5% paid last year. SAIL has earned the highest net profit of Rs 4,300 crore for the nine month period ending 31st December 2006. Talking to newsmen, Shri Paswan appreciated the functioning of SAIL saying capacity utilization during the current year has gone upto 112%.

Asked about the overseas acquisition of SAIL, the Minister said that the public sector undertaking is looking for minority stake in coking coal mines in Australia and Canada. He said SAIL consumes about 14 million tonnes of coking coal a year of which 11 to 12 million tonnes is imported. Shri Paswan said a minority stake in coking coal mines will ensure supply security. Secretary, Ministry of Steel Shri R.S. Pandey and other senior officers from Steel Authority of India were present.

Source : Press Information Bureau

Keywords