Tamil Nadu government has opposed move to privatise the Salem Steel Plant, saying such a proposal would cause "considerable unrest" amongst the people, particularly amongst those whose lands were acquired. "Today, any proposal to privatise the Salem Steel Plant would cause considerable unrest amongst people, particularly amongst those whose lands were acquired," he said. Palaniswami said land was "perhaps" the most valuable and sought after asset in the possession of the steel plant today. "The causes for the company s recent losses must be studied and Salem Steel Plant must be given a chance to improve its efficiency and make a turn around," he said. The Centre had last month approved outright sale of state-owned SAIL's three special steel units, including Salem and Alloy Steel plants.

Source: dna April 27, 2017 06:50 UTC