Sail looks to reduce costs $786M over next 3 years

Sep 13, 2013 | 11:47 AM | Jagdish Kumar

Tags  Steel Authority of India, Sail, cost cutting initiatives, cost of production, steel output, Jagdish Kumar

MUMBAI, India — Steel Authority of India Ltd. (Sail) is targeting 50 billion rupees ($786 million) in savings through cost optimization initiatives over the next three years.

Indian steel companies are facing the dual challenge of high production costs and lower sales, Sail said Sept. 12, noting that the cost of production is being driven up by volatility....

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