Mumbai: The steel ministry will appoint an external consultant to review the performance of state-run Steel Authority of India (SAIL).

The decision was taken by steel minister Narendra Singh Tomar at a performance review meeting held on Tuesday, in which he called for increase in value-added production.

The consultant will identify bottlenecks in critical projects and recommend an operational and marketing strategy, the ministry said in a statement on Tuesday. The consultant will also suggest a turnaround strategy and monitor its execution in coordination with the ministry.

Steel secretary Aruna Sundararajan said the company is at its tipping point in its corporate journey.

For the July-September period, SAIL reported a standalone net loss of 1,055.96 crore due to lower sales. Tomar cautioned the company against aggressive marketing to retain its market share and called for higher production of saleable steel.

On Tuesday, SAIL closed at 43.90, flat from its previous close of 44. The benchmark Sensex stood at 25,775.74 points, down 0.17%.

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