Vedanta aspires to be among top 3 steel players in India

Vedanta aspires to be among top 3 steel players in India
28/06/2019 , by , in ALLIED

Anil Agarwal controlled Vedanta is targeting to be among the top three steel players in the country and has plans to enhance the production capacity to 10 million tonnes over the next 5-6 years.

Vedanta had forayed into steel with takeover of Electrosteel Steels Ltd (ESL) from the NCLT last year.

“We are aiming to be one of the top three players in the steel sector in India. We are also targeting to enhance production capacity to 10 million tonnes in the next 5-6 years,” ESL deputy CEO PankajMalhan said on Wednesday.

In the next two years, the current capacity of 1.5 million tonnes will be doubled with a capex of Rs 4000-5000 crore, Malhan said.

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