Have you considered a Portable Hydraulic Hole Punch?
Are you looking for a faster way to put holes in structural steel than using a magnetic drill press? Then consider a portable hydraulic hole Punch. Takes seconds instead of minutes. What kind of holes can you punch with one of these 35 Ton Porta-Punch machines? You can put a hole up to 13/16" diameter in 1/2" thick steel. You can also punch slotted holes too. All you need is a standard 115 volt electrical outlet to plug the hydraulic pump into and you are ready to punch holes anywhere.