The government has approved a special package for the revival of the Bokaro-based Bharat Refractories Ltd (BRL).
The package includes Rs 90 crore non-plan loan for a voluntary retirement scheme (VRS), Rs 55 crore non-plan loan for clearing statutory liabilities and Rs 35 crore equity mobilisation for addition, modification and replacement scheme, among other things.
Announcing the package for BRL, Union minister for steel Braja Kishore Tripathy said the government has also approved a proposal for the revival of the ailing Indian Iron & Steel Company (Iisco), a subsidiary of SAIL.
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The minister said the industry needs to gear up for bettering production while focusing on consumer demands. He stressed on qualitative improvement, value addition and resource optimisation to bring about a turnaround in the industry.
Referring to the implementation of the financial and restructuring package of SAIL, he said the PSU has achieved