BOKARO: With an aim to ensure cost control in all departments, Bokaro Steel Plant (BSL) is making all possible efforts to make a turnaround this financial year after incurring losses in the past few years.The steel major has joined hands with consultants who have come up with action plans, awareness and approach for its revival. An initiative for transformation called 'SAIL Uday' has been launched by SAIL with the intent of creating and implementing a sustainable turnaround strategy in all its units. Boston Consulting Group (BCG), which is a leading global management consultancy, has also been roped in for the purpose.The 'SAIL Uday' workshop, which was organized at Bokaro Niwas here, witnessed the participation of executive directors, general managers and other senior officers. "The purpose of the workshop was to familiarise all senior officers with the objectives, approach and timeline for the project," Mainkant Dhan, BSL spokesperson, said.During the workshop, the participants were asked to identify a set of quick win initiatives that will help capture value quickly for both SAIL and BSL.The BSL management also joined hands with consultant Louis Alen International and organized workshop in which strategies required for BSL's turnaround were discussed.The challenging market situations and several internal factors had badly affected BSL's production, leading to huge losses. SAIL suffered a huge loss of Rs 4,137 crore in the last financial year. BSL contributes a major share in Steel Authority of India Limited 's (SAIL) production and profit.

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