Vedanta is aiming to be among the top three steel players in the country. In this regard, the company has plans to enhance the production capacity to 10 million tonnes over the next 5-6 years. The company had forayed into steel with takeover of Electrosteel Steels Ltd (ESL) from the NCLT last year. In the next two years, the current capacity of 1.5 million tonnes will be doubled with a capex of Rs 4000-5000 crore.
The company will increase the capacity at Bokaro (the site of ESL) to 6 million tonnes and the remaining 4 million tonnes could be from greenfield or acquisitions.
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.
