Paswan: IISCO-SAIL merger by December

Paswan: IISCO-SAIL merger by December

Indian Steel Minister Ram Vilas Paswan acknowledged that the merger of Indian Iron and Steel Company (IISCO) with Steel Authority of India Ltd (SAIL) would be completed by December 2005. The Minister indicated that he would send the formal proposal to the Cabinet within six months. Paswan added that following Cabinet approval, the merger would be completed. The merger is expected to improve the technological know-how of IISCO. In return, SAIL will have the opportunity to use the raw material sources of IISCO.