McKinsey to help Usha Martin wade through debt

Consultant to conduct techno-economic viability study improve the steel maker's profitability

Global consulting firm McKinsey and Company will advise steel and wire rope maker Usha Martin. The board of the debt-laden company, which includes a State Bank of India (SBI) nominee, recently cleared the appointment of the consultant for the one-year assignment.

 "We are getting McKinsey to help us with operational efficiency and reduction in costs to improve profitability of our steel business," Rohit Nanda, chief financial officer, Usha Martin, told Business Standard. McKinsey would work on the speciality steel business of the company in two phases.

The first phase, which would last around six to eight weeks, would comprise a techno-economic