Target for 7MT capacity

Globally diversified resources group, Vedanta Ltd, is to set up a 4.5 million tonner per annum steel plant in Jharkhand with an investment of US$3-US$4 billion.

The plant will be part of the company’s newly-acquired Electrosteel Steels Ltd (ESL) at Bokaro, Vendanta Resources chairman Anil Agarwal told reporters in Kolkata on 25 Dec 2018.

The brownfield plant would be located at ESL in Bokaro.

Agarwal estimates US$3-US$4 billion investment, starting with initial US$300 million to augment ESL capacity to 2.5 MT from the existing 1.5 MT.

Once the new facility is commissioned, the total capacity of ESL would be around 7 MT, he said.

“We have about 2,200 acres at ESL and are scouting for a little more. The Jharkhand government has been very cooperative in this regard,” he said.

Vedanta Limited is a globally diversified natural resources company with interests in zinc-lead-silver, Iron ore, Steel, Copper, Aluminium, Power, Oil and Gas. fiinews.com