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Monday, 26th January 2009 (941 views)

A government-run steel manufacturer in India is to offer its employees gold gifts as part of its golden jubilee celebrations next month.

The Steel Authority of India (Sail) is to distribute approximately 1,040kg of gold coins to its workforce as it looks to reward employees during the current slump in the steel industry, the Times of India reports.

Each of the coins weighs 8g and would cost approximately RS11,000 (£164) each were they to be sold.

A spokesperson for Sail declined to comment to the news source on the matter, however it is believed that steel minister for the country Ram Vilas Paswan is to make an announcement on the issue on February 3rd.

The news follows a similar decision by fellow state-owned firm Bhilai Steel, which also celebrates its 50th anniversary in February.

Like Sail, Bhilai Steel is to give its workforce an 8g coin as a gift to mark the occasion.

 

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