Indian mining company Vedanta Ltd. announced that it plans to establish a new steel plant in Jharkhand with a capacity of 4.5-million-tonne-per-annum at a commitment of $3 to $4 billion.
The new steel plant will be part of Vedanta’s newly-purchased Electrosteel Steels Ltd (ESL) at Bokaro.
Vedanta said that it will initially infuse about $300 million to augment ESL’s capacity to 2.5 metric tonnes from the existing 1.5 metric tonnes.
The total capacity of ESL is expected to be around 7 metric tonnes.