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''If that is done, I am sure that Salem Steel Plant will certainly transform once again into a profit making Public Sector Undertaking'', he said and urged Modi to intervene in the matter expeditiously and advise the Ministry of Steel and the Steel Authority of India Limited not to privatise the plant, located in Salem in Tamil Nadu.
Stating that employees of the Steel Plant informed him that a Legal Advisor, Asset Valuer and Transaction Advisor have been appointed by the Central government in June itself, the CM said he had learnt that it was also decided to constitute an Advisory Committee for speeding up the privatisation of SSP by calling for a global tender.
"SSP over the years has acquired global reputation for its high quality steel and is an iconic symbol for the State and the people of Tamil Nadu. We have a deep sense of pride and attachment to this Public Sector Plant,'' he said.
Palaniswami said that the financial condition of the plant has improved in the financial year 2016-17 in comparison to the financial year 2015-16, and added that it is capable of performing better provided it is given the right support and direction in a dynamic economic scenario.
Stating that employees of the Steel Plant informed him that a Legal Advisor, Asset Valuer and Transaction Advisor have been appointed by the Central government in June itself, the CM said he had learnt that it was also decided to constitute an Advisory Committee for speeding up the privatisation of SSP by calling for a global tender.
"SSP over the years has acquired global reputation for its high quality steel and is an iconic symbol for the State and the people of Tamil Nadu. We have a deep sense of pride and attachment to this Public Sector Plant,'' he said.
Palaniswami said that the financial condition of the plant has improved in the financial year 2016-17 in comparison to the financial year 2015-16, and added that it is capable of performing better provided it is given the right support and direction in a dynamic economic scenario.
