Amarendu Prakash takes charge as new SAIL chairman

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Amarendu-Prakash-takes-charge-as-new-SAIL-chairmanAmarendu Prakash took charge as the new Chairman and Managing Director of Steel Authority of India Limited (SAIL) with effect from 31 May.

An Overview of the News

  • He was earlier Director (In-Charge) of SAIL's Bokaro Steel Plant.

  • SAIL had experienced three years of losses from FY16 to FY18.

  • Prakash is heading the Bokaro Steel Plant as Director-in-Charge from September 2020.

  • Under Prakash's leadership, Bokaro Steel Plant achieved remarkable production records in FY22 and FY23.

Steel Authority of India Limited (SAIL):

  • It is a leading steel making company in India.

  • SAIL is a Public Sector Undertaking (PSU) under the Ministry of Steel, Government of India.

  • SAIL aims to promote the development and production of steel in the country.

  • The history of SAIL begins with India's First Five Year Plan (1951–1956).

  • Hindustan Steel Limited (HSL) was established in 1954, which later became the flagship company of SAIL.

  • In the 1970s and 1980s, SAIL embarked on a significant expansion plan to increase its steel production capacity.

  • New steel plants including Bokaro Steel Plant in Jharkhand, Visvesvaraya Iron and Steel Plant in Karnataka, Salem Steel Plant in Tamil Nadu and Alloy Steel Plant in West Bengal were established.

Establishment - January 19, 1954

Headquarters - New Delhi

CEO - Soma Mondal

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