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Vedanta to set up 4.5 million tonnes steel plant in Bokaro-The 20th China (Guangzhou ) Int’l Casting product Exhibition
12/27/2018 铸件展-casting expo-Die-casting expo-foundry expo |
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The Hindu reported that Vedanta Ltd has announced plans to set up a new steel plant in Jharkhand at an investment of USD 3-4 billion over the next few years. The plant will have a capacity of 4.5 million tonne per annum. The new plant, primarily part of its second phase of capacity expansion, will be set up adjacent to its newly acquired Electrosteels unit in Bokaro. Vedanta Resources chairman Anil Agarwal said “This would be a new steel plant under ESL and in the same location at Bokaro, so it’s a brownfield investment per se. The amount is likely to be to the tune of USD 3-4 billion for a capacity of 4.5 million tonnes.”
He said “Vedanta would initially invest around USD 300 million to augment Electrosteel Steels’s capacity to 2.5 million tonnes from the existing 1.5 million tonnes. Once the new facility is commissioned, the total capacity of Electrosteel Steels would be around 7 million tonnes.”
He added “The company is in talks with Korean, Japanese and Chinese firms for technology and machinery for its proposed expansion.”
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