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SAIL Facing Order Cancellations, Re-Scheduling Due To Lockdown
The country's largest state-owned steel company faced a marginal hit to production and some of its inventory was piled up at ports, the source said, declining to be identified due to the sensitive nature of operations.
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Steel Authority Of India Ltd has had some of its orders cancelled due to slower handling at ports as a 21-day lockdown to prevent the spread of the coronavirus hit movement of goods, a source directly involved said on Thursday.
The country's largest state-owned steel company faced a marginal hit to production and some of its inventory was piled up at ports, the source said, declining to be identified due to the sensitive nature of operations.
Most steel companies have faced similar disruptions and have suspended operations at some of their plants.
People queued in some Indian cities for essential items, while trucks were stranded at state borders and public transport was suspended two days after Prime Minister Narendra Modi ordered the 21-day lockdown to protect a population of 1.3 billion.
On Wednesday, JSW Steel Ltd said manufacturing operations in all of its locations have since been either scaled down or suspended.
(Reuters)