Indian steel major, Tata Steel has said that it will not be selling off its South African unit and will be putting in money to revamp and get the operations going. The information was given by a company official in reply to the queries that asked about its earlier announcement of selling the unit.

Talking during the sidelines of a seminar organized by the CII, H M Nerurkar, managing director of Tata Steel said that they had approached the buyers but that is no sign that the unit is being sold.

During last year, Tata Steel KZN Pte was able to make a profit in 2009-10. So, he added that there is no point selling the unit if the unit is making profit. He further added that there are plans to buy ferro chrome ore mines so that the supplies for the company are secure.

As for the steel company's Kalinganagar project in Orissa he said that the construction work is going on and that the plant will be over by 2014-15.

For the steel prices he said that they are going to remain at the current levels.