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The workers who work on a contract basis for Steel Authority of India Ltd (SAIL), which is under the ownership of the Ministry of Steel, Government of India, are bound to face a difficult time ahead because the state-run company is ready to adjourn its raw material division (RMD) headquarters in Kolkata, a news agency PTI stated on Saturday.
However, the official announcement is yet to be made. The company had measured a net profit of ₹2,647.52 crores during the January-March period of the fiscal year 2019-20, Steel Authority of India Ltd (SAIL) mentioned during a regulatory filing. Due to the pandemic, the company has faced some downfalls but a filing noted that after the gradual normalization of economic activities, the company is operating at normal capacity again.
The PTI said that some administrators mentioned that the control of the mines under the raw material division could be relocated to the Rourkela Steel Plant in Odisha and Bokaro Steel Plant in Jharkhand. The domestic steel manufacturer is expected to save neighbouring ₹40 crores a year after the move the PTI reported.
The employees who were not bound by a contract at the RMD headquarters in Kolkata are expected to be shifted to Rourkela and Bokaro reported PTI citing people cognizant of the development after reckoning that the hammer could befall on the contractual workers.