The public-sector steel giant has also begun identifying assets which have been idling for years. ``These will be disposed of by stimulating procedural wrangles, thereby generating revenues for the company,'' says a release.

The board, which took into cognisance the unprecedented Rs 616.91 crore losses in the first half of this year, approved inducting a minority partner for ``the profitable management of its power-generation resources''. In a bid to pull out of businesses in which it does not have core competence, SAIL will hive off some of its captive power plants to a joint-venture company with an independent power producer (IPP).

The joint venture, in which SAIL will retain a controlling stake, will own the steel conglomerate's captive power plants at Rourkela, Bokaro and Durgapur. The company for some timehas been shutting down facilities and operations within its powers as a public-sector undertaking (PSU).

The recently completed voluntary retirement scheme (VRS) allowed SAIL to part with 6,000 of its 1.8 lakh work force. The ``navratna'' empowerment will now allow SAIL to adopt a bolder action plan.

SAIL has abandoned some outdated operations and superfluous facilities. For instance, the ingot-casting operations at Rourkela have been closed, now that the modernised plant has continuous casting facilities.

Stockyards are being wound up at locations at which the marketing infrastructure no longer seems viable. To be able to cut corners, offices in the metros are trimming flab.