Centre approves disinvestment of Salem Steel Plant

Despite opposition from various political parties including DMK and PMK, the Union Government has accorded ‘in-principle’ approval for strategic disinvestment of the public sector Salem Steel Plant, citing the losses made by the plant. The PMK urged the Centre to modernise the plant instead of privatising. Reportedly, The SSP losses stood at Rs 466 crore in 2015-16.

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