With reference to the news article appeared in a leading daily captioned "SAIL gives VRS to Kulti Unit Workers", Steel Authority of India Ltd has informed BSE that rehabilitation package for IISCO approved by the Govt of India includes closure of Kulti Works, a loss making unit of IISCO for more than last 25 years, with separation of employees through VRS. Govt of India has since sanctioned and released the funds required for effecting VR in Kulti Works and according, a VR Scheme has been circulated for the employees of Kulti Works on January 01, 2003 with last date for submission of application by January 31, 2003.

BSE Code: 500113