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.”
British steel maker Corus, formerly known as British Steel, is to be merged by 
The government’s move to across-the-board cut of 4% in the ad valorem Cenvat rate, which will be effected for the balance part of the current fiscal on all products other than petroleum, is surely going to benefit the construction grade steel like TMT and structural steels, made by Steel Authority of India Ltd, Rashtriya Ispat Nigam Ltd and Tata Steel. 
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 
