Rourkela: “Public sector major, Steel Authority of India Ltd. (SAIL) would ensure timely completion of the proposed modernisation and expansion projects of SAIL plants to avoid cost overrun,” company Chairman S.K. Rungta said.

In the background of the ‘tough phase’ through which the steel industry was passing through, he expressed optimism that SAIL would be able to withstand the adverse impact of the economic slowdown for which it will adopt feasible measures.

“SAIL would be able to combat the prevailing steel recession and chalk-out policies and strategies for all its units”, the Chairman said.

He, however, sounded a word of caution for the steel industry and said the going might get tougher in the days to come.

Addressing the 345th meeting of the board of directors which ended here yesterday, the SAIL chairman said: “At this crucial juncture we need 100% contribution from the each member of the SAIL families.”

Altogether, 15 directors including the managing director, of SAIL steel plant participated in the day-long meeting.