On Thursday, Engineering firm Siemens Ltd received Rs 212 crore order from Steel Authority of India Ltd (SAIL) in order to offer a power distribution package at the Rourkela Steel Plant (RSP) in Orissa.

In a filing to the Bombay Stock Exchange, the company confirmed, "The scope of work for Siemens' industrial solution division, which has bagged the Rs 212-crore order, includes designing, engineering, supply, civil work, erection, testing and commissioning of transmission lines and substations."

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.”