Facing reduction in demand due to the lockdown in the country, steel makers SAIL and Tata Steel have reduced their output by about 50 per cent, according to sources.State-owned Steel Authority of India Ltd (SAIL) and private player Tata Steel both contribute about 20 per cent to India’s total steel production. As per industry sources, SAIL and Tata Steel have scaled down production by about 50 per cent.The companies have taken the decision because of the reduced demand in the market after the lockdown, which has impacted logistics movement, the sources said adding that buyers are also reluctant in placing orders.Close Most of the staff of the companies are working from home and only important sites like blast furnaces and coke oven batteries etc at the plants, which can not be closed, are running. related news Coronavirus pandemic | Sonia Gandhi writes to PM Modi, suggests measures to save money to fight COVID-19 Heads up! Smart money moving from financials to FMCG & pharma Tata Steel had earlier said as the outbreak of COVID-19 has impacted its business and operations, the company’s integrated steel facilities in Jamshedpur and Kalinganagar and subsidiaries Tata Steel BSL and Tata Steel Long Products… Read full this story
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Production at SAIL, Tata Steel plants down by 50%, amid lockdown: Sources have 325 words, post on www.moneycontrol.com at April 7, 2020. This is cached page on Business Breaking News. If you want remove this page, please contact us.
