Ranchi, June 2: Management Training Institute (MTI), the apex human resource development centre of Steel Authority of India Limited (SAIL), signed an MoU with Management Development Institute (MDI), Gurgaon, today to enhance the intellectual capital of the steel industry.

S.P. Patnaik, executive director (HRD), MTI and C.V. Baxi, director, MDI, Gurgaon, signed the MoU in the presence of G. Ojha, the director (personnel) SAIL and professor C.P. Shrimali, dean at continuing education, MDI, at Ispat Bhavan, New Delhi.

Official sources told The Telegraph that the MoU provides for a mutual exchange of faculties between MTI, SAIL, and MDI, Gurgaon, joint research and development of case studies and mutual access to literature and library resources.

In line with efforts to enhance exchange of knowledge, MTI has already established collaborative tie-ups with the Indian Institute of Management (IIM), Indore, and Indian School of Mines University (ISMU), Dhanbad. However, today’s tie-up would help enhance the steel major’s access to knowledge about latest management practices, which would be disseminated to its trained manpower at various SAIL plants.

They added that financial results announced for the 2007-08 fiscal revealed that the steel major had achieved an all-time high turnover of Rs.45,555crore and a profit after tax of Rs 7,537crore for the 2007-08 fiscal.

“The MoU marks a significant step in the consolidation of an industry-academic interface that would enhance SAIL’s access to knowledge on management practices which can be disseminated in the form of case studies,” an official source stressed.