Diversified resource giant India-based Vedanta Limited announced that it produced 350,000 tonnes of saleable steel in October-December 2021 quarter, up by 3% YoY and 20% QoQ. In the first nine months, Vedanta's saleable steel production totaled 932,000 tonnes, up by 7% YoY mainly due to pandemic restrictions in the previous financial year. October-December 2021 QuarterPig Iron – 48 KT, up by 56% & up by 27% QoQBillet - 21 KT, up by 17% & down by 64% QoQTMT Bar - 114 KT, down by 8% & up by 72% QoQWire Rod - 120 KT, down by3% & up by 33% QoQDuctile Iron Pipes – 48 KT, up by11% & up by 19% QoQ April-December 2021Pig Iron – 138 KT, down by 2% YoYBillet - 105 KT, down by 32% YoYTMT Bar – 268 KT, down by 22% YoYWire Rod – 302 KT, down by 15% YoYDuctile Iron Pipes – 119 KT, up by 32% YoY Vedanta forayed into the steel business through acquisition of 90% stake in ESL Steel Limited. In June 2018, Vedanta Limited acquired the management control of ESL through the Corporate Insolvency Resolution Process initiated for addressing resolution of non-performing assets of the Indian banking system. ESL, an Integrated Steel Producer, was incorporated in 2006 as a Public Limited Company with operations in Bokaro, Jharkhand, India. The company has set up a green field integrated manufacturing facility, which is currently commissioned at a capacity of 1.5 million tonne per annum. The facility primarily consists of Sinter Plants, Coke Oven, Blast Furnaces, Oxygen Plant, Basic Oxygen Furnaces, Billet Caster, Wire Rod Mill, Bar Mill, Ductile Iron Pipes Plant and a Power Plant. The Company's product range includes Pig Iron, Billets, TMT Bars, Wire Rods and Ductile Iron Pipes.
Diversified resource giant India-based Vedanta Limited announced that it produced 350,000 tonnes of saleable steel in October-December 2021 quarter, up by 3% YoY and 20% QoQ. In the first nine months, Vedanta's saleable steel production totaled 932,000 tonnes, up by 7% YoY mainly due to pandemic restrictions in the previous financial year. October-December 2021 QuarterPig Iron – 48 KT, up by 56% & up by 27% QoQBillet - 21 KT, up by 17% & down by 64% QoQTMT Bar - 114 KT, down by 8% & up by 72% QoQWire Rod - 120 KT, down by3% & up by 33% QoQDuctile Iron Pipes – 48 KT, up by11% & up by 19% QoQ April-December 2021Pig Iron – 138 KT, down by 2% YoYBillet - 105 KT, down by 32% YoYTMT Bar – 268 KT, down by 22% YoYWire Rod – 302 KT, down by 15% YoYDuctile Iron Pipes – 119 KT, up by 32% YoY Vedanta forayed into the steel business through acquisition of 90% stake in ESL Steel Limited. In June 2018, Vedanta Limited acquired the management control of ESL through the Corporate Insolvency Resolution Process initiated for addressing resolution of non-performing assets of the Indian banking system. ESL, an Integrated Steel Producer, was incorporated in 2006 as a Public Limited Company with operations in Bokaro, Jharkhand, India. The company has set up a green field integrated manufacturing facility, which is currently commissioned at a capacity of 1.5 million tonne per annum. The facility primarily consists of Sinter Plants, Coke Oven, Blast Furnaces, Oxygen Plant, Basic Oxygen Furnaces, Billet Caster, Wire Rod Mill, Bar Mill, Ductile Iron Pipes Plant and a Power Plant. The Company's product range includes Pig Iron, Billets, TMT Bars, Wire Rods and Ductile Iron Pipes.
