Vedanta will set up a new steel plant in Jharkhand with a capacity of 4.5 million tonne (MT) per annum at an investment of $3-4 billion. The plant will be part of the company's newly-acquired Electrosteel Steels (ESL) at Bokaro.
The company would initially invest about $300 million to augment capacity of ESL to 2.5 MT from the existing 1.5 MT. Once the new facility is commissioned, the total capacity of ESL would be around 7 MT and the plant would create 1,20,000 jobs in the form of direct and indirect employment.
Vedanta is a diversified natural resources company, whose business primarily involves producing oil and gas, zinc- lead-silver, copper, iron ore, aluminium and commercial power.
