In the times of economic slowdown, public sector steel major Steel Authority of India Ltd has decided to move ahead with its Rs 54,000-crore expansion plans.
SK Roongta, SAIL’s chairman told, “All our short term expansion plans are on track and though there is a liquidity crunch around the world, we will raise whatever capital is required at the appropriate time. Half of the Rs 54,000 crore needed to ramp up capacity to 26.2 million tonnes from the current 15 million tonnes would be through external borrowings.”
Tata Steel, India’s leading steel maker has introduced an early separation scheme for its employees in its Jamshedpur plant in Jharkhand to downsize its ‘less skilled’ workforce. Tata Steel spokesperson said, "ESS scheme is a voluntary scheme and has got nothing to do with the global economic recession. We cannot ascertain the number of people who will be opting for this option. In view of investment in better and modern technology to increase productivity level, more skilled and fewer people are required."
Stock market analysts have maintained ‘buy’ rating on Tata Steel stock with an intraday target of Rs 160. 
Despite current economic slump, Steel Authority of India Limited (SAIL) has announced that it envisages 
Bringing cheer to the industry and aiming at a marginal relief to the government revenues as well, the government on Tuesday slapped a 5% import duty on specified iron and steel products, and a basic customs duty of 20% ad valorem on crude soyabean oil. However, there is however no change in the import duty on refined soyabean oil. 
A wholly owned subsidiary of JSW Steel, JSW Building Systems, has announced to form 50:50 joint venture with Severfield Reeve Structures. Severfield Reeve Structures is a UK based company, a wholly owned subsidiary of Severfield-Rowen. It is known for high quality structural steel across the world. 
