Vedanta to set up new steel plant in Jharkhand

According to report, Vedanta on Tuesday said it would set up a new steel plant in Jharkhand with a capacity of 4.Asian Metal Copyright In March, Vedanta was declared as the successful resolution applicant for ESL under the corporate insolvency resolution process.Asian Metal Copyright5 million tonne (MT) per annum at an investment of $3-4 billion.Asian Metal Copyright5 million tonne MT per annum at an investment of $3-4 billion.Asian Metal Copyright The plant will be part of the company's newly-acquired Electrosteel Steels Ltd.Asian Metal Copyright The plant will be part of the company's newly-acquired Electrosteel Steels Ltd.Asian Metal Copyright (ESL) at Bokaro, Vendanta Resources Chairman Anil Agarwal disclosed.

Vedanta would initially invest about $300 million to increase capacity of ESL to 2.5 MT from the existing 1.Asian Metal CopyrightAccording to report, Vedanta on Tuesday said it would set up a new steel plant in Jharkhand with a capacity of 4.Asian Metal Copyright5 MT.

The total capacity of ESL would be around 7 MT after the new facility is commissioned, he said without elaborating on the time frame.

In March, Vedanta was declared as the successful resolution applicant for ESL under the corporate insolvency resolution process.

The company has acquired control of ESL and a new board of directors has been put in place.

.Asian Metal Copyright5 million tonne MT per annum at an investment of $3-4 billion.Asian Metal Copyright