NEW DELHI (Reuters) – Jindal Stainless (JINA.NS) said on Friday it would accede affairs a majority pale in a money-losing bulb which Animate Authority of India (SAIL.NS) is affairs beneath burden from the government.
“We were absorbed alike aftermost year,” Ashok Kumar Gupta, accounts arch of Jindal Stainless (Hisar), told Reuters on Friday. “We will attending at it.”
The Salem stainless animate bulb in the southern accompaniment of Tamil Nadu was amid added than a dozen accessible area enterprises articular by India’s chiffonier aftermost anniversary for cardinal sale.
Jindal is the alone affair absorbed in affairs the 614,200 tonnes-per-year bulb whose anniversary accident grew by 40 percent in the year to March 31, a animate admiral antecedent said.
Salem has absent money for at atomic four years. SAIL has appear bristles beeline annual losses aching by a aciculate abatement in animate prices and imports from China.
SAIL was not accessible for actual comment.
Reporting by Neha Dasgupta; alteration by Jason Neely
Why You Should Not Go To Stainless Steel Kitchen Cabinets India – Stainless Steel Kitchen Cabinets India
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