Metals major Vedanta Resources is planning to increase steelmaking capacity to 3 mn t per annum, as per latest reports. Vedanta-owned and Bokaro-based ESL (formerly Electrosteel Steels Ltd) is doubling capacity from 1.5 mn t to 3 mn t at an estimated investment of INR 3,000 crore.
- In 2018, Vedanta entered the steel business through the acquisition of ESL, which is into long products.
- When the acquisition happened, 1.2 mn t was commissioned, which was ramped up to 1.5 mn t.
- ESL engaged M N Dastur for the expansion plan in 2020 prior to the outbreak of COVID-19, which delayed expansion plans.
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