Vedanta intends to get into the top four Indian steel producers
Vedanta Resources is an Indian company engaged in the production of non-ferrous metals. It is one of the leading manufacturers in India. However, she found this little. So the company plans to reach new heights. She wants to get into the top four Indian producers of steel products. The company has developed a plan that will achieve your goals. Help factory Electro Steels Ltd. It is located in the state of Jharkhand. The plant was bought by the company last year. At that time he was bankrupt.
Currently the plant capacity is 1.5 million tons. Vedanta Resources intends to increase this figure. It is expected to be 3 million tons per year. This will be achieved in the next three years. To this end the company will carry out a large investment. The sum of $ 575−720 million dollars. The investments will be made gradually. The extension will be achieved through the construction of new production facilities. In addition, it will relieve some bottlenecks. It’s all about the first phase of the project.
In the second phase of the project includes an additional extension. This will increase the production capacity of the plant to 6 million tons. It is planned for another three-year period. In addition, the plant will be renamed as Vedanta. Today the company produces long products. After expansion, it will begin to produce more and sheet products. The plant is not the only project of the company. It also intends to build another plant. It will be implemented or in Bengal or in the South of the country. The design capacity of the new plant will be 4 million tons per year. The project implementation is scheduled for 2024−2025 year.