March 21, 2002

    The Board of Industrial and Finance Reconstruction (BIFR) in its last hearing in November 2001 has granted 3 months time till February 2002 for submission of a fully tied up plan for revival of Indian Iron & Steel Company (IISCO), West Bengal. Steel Authority of India Ltd. (SAIL) had submitted a proposal for revival of the Company to the Ministry of Steel. This was examined by the Steel Ministry and a revival package has been prepared which is at present under consideration of the Government. BIFR has been requested for extension of time by six months for submission of a final proposal.

    This information was given by the Minister for Steel Shri B.K.Tripathy in a written reply in the Lok Sabha today.