“PESB recommended the following name for the post of Chairman, Steel Authority of India Ltd (SAIL) -- P K Singh,” it said in a notification. Singh took over...
as the Chief Executive Officer (CEO) of Durgapur Steel Plant in 2012. Earlier in July, he was given the additional charge of CEO of IISCO Steel Plant, Burnpur (West Bengal).
He started his career in SAIL at its Bokaro Steel Plant in 1980 and also worked in IISCO Steel Plant, Durgapur Steel Plant and Bokaro Steel Plant.
He is known for his expertise in the field of production. Singh took over as the CEO of Durgapur Steel Plant in May, 2012. He has been posted in all the steel plants of the company during his course of 35 years’ service so far in SAIL.
In June CS Verma had relinquished the charge as CMD on completion of his tenure and Steel Secretary Rakesh Singh has assumed the charge till a regular chief is appointed.
Verma was appointed CMD of the public sector undertaking (PSU) for a five-year term in June 2010 by previous UPA government and was eligible for an extension till he attained the superannuation age of 60 years in September 2019.
PESB on August 31 interviewed 12 candidates for the top post of the company. Among them were two company directors and three chairman and managing directors of other PSUs. PESB found Singh to be the most suitable for steering the company to its next phase of growth.
The PESB had on June 17, 2015 sought application for the SAIL chairman’s post stating that the appointment would be for five years or up to the date of superannuation, whichever is earlier. However, Singh is supposed to retire from the job in April, 2018 upon his superannuation.
Following the recommendation of the PESB, it would require the approval of the Appointments Committee of the Cabinet for the person to take over.
The new task, at the helm of a company, would certainly be a challenging one for the new chairman to steer SAIL out of the current phase.
Not just because of its inherent problems of excess and ageing workforce, the domestic steel industry is actually in deep waters now primarily due to burgeoning imports from China, Japan, Korea and Russia. Though the government has raised import duty on the alloy for a couple of times, each time by 2.5%, it didn’t benefit the industry much.
SAIL is in the final stages of completion of its Rs 72,000-crore modernisation and expansion programme that would enhance its hot metal capacity to 23.5 mtpa. The company has also readied a blueprint to take its capacity to 50 mtpa by 2025 with an investment of Rs 1.5 lakh crore.
P. K. Singh has been the Chief Executive Officer of Durgapur Steel Plant at Bokaro Steel Limited since April 6, 2012. He also served as General Manager (Blast Furnace) at Bokaro Steel and has been Executive Director of Works - Bhilai Steel Plant for Steel Authority of India Limited (SAIL) since July 2011. Mr. Singh served as Executive Director at IISCO Steel Plant in Burnpur.
The government headhunter earlier interviewed A.K Chaudhary, director (Finance), SAIL; PK Singh, CEO, SAIL; Kalyan Maity, Director (RM&L), SAIL, Anupam Anand, Director (Personnel) HCL; SK Saha, ED, SAIL, RP Singh, Director (Personnel), PGCIL; Malay Chatterjee, CMD, KIOCL; PK Mukhopadhyay, Member secretary, DVC; N.K. Nanda Director (Technical), NMDC; Ms. Rashmi Goel, IRAS, MOR; M S Rana, CMD, SPMCIL and Jaiveer Srivastava, CMD, FACT and recommended PK Singh's name for the top post.
SAIL is also the world's 15th largest steel producer with a production of 12 million tonnes of crude steel. At present, the Government of India has 86 percent ownership of SAIL. The company owns and operates nine manufacturing plants, including two subsidiaries.