Business Standard reported that the capacity expansion of ESL Steel will be completed by next year. Vedanta’s Group Chief Executive Officer Mr Sunil Duggal said “The priority is to finish doubling capacity from 1.5 million tonnes to 3 million tonnes.”An investor presentation of Vedanta in August said completing ESL’s expansion was slated for the end of FY23. ESL was also looking to increase the share of value-added products to 1 million tonne by FY24 from 0.8 million tonne in FY22Vedanta entered the steel sector by acquiring Electrosteel Steels in June 2018 under the Insolvency and Bankruptcy Code and commissioned a 1.2 million tonnes plant in Jharkhand. The capacity was ramped up to 1.5 million tonnes as the company was renamed ESL Steel.
Business Standard reported that the capacity expansion of ESL Steel will be completed by next year. Vedanta’s Group Chief Executive Officer Mr Sunil Duggal said “The priority is to finish doubling capacity from 1.5 million tonnes to 3 million tonnes.”An investor presentation of Vedanta in August said completing ESL’s expansion was slated for the end of FY23. ESL was also looking to increase the share of value-added products to 1 million tonne by FY24 from 0.8 million tonne in FY22Vedanta entered the steel sector by acquiring Electrosteel Steels in June 2018 under the Insolvency and Bankruptcy Code and commissioned a 1.2 million tonnes plant in Jharkhand. The capacity was ramped up to 1.5 million tonnes as the company was renamed ESL Steel.
