Vardhman Special Steels has inked an agreement with Aichi Steel Corporation (Aichi Steel), Japan, under which Aichi Steel has increased its equity stake in the company from 11.33% to 24.90%. The enhanced partnership is aligned with the shared vision of both organizations to develop a world-class green steel manufacturing facility in India, aimed at producing high-quality special steels for the global automotive and engineering industries.
The upcoming plant with a manufacturing capacity of 5 lakh Tonnes per annum (TPA) with an estimated capex of Rs 2000 crore, backed by technical support from Aichi Steel, will integrate advanced Japanese processes and technology to serve both domestic and ASEAN market.
Vardhman Special Steels, incorporated in 2010, is part of the Vardhman group. It has its operating unit in Ludhiana, Punjab, which manufactures hot rolled bars and caters to the diverse requirements of various end-user segments such as engineering, automotive, tractor, bearing and allied industries.
| Company Name | CMP |
|---|---|
| Tata Steel | 214.45 |
| JSW Steel | 1277.70 |
| SAIL | 184.80 |
| Jindal Stainless | 755.10 |
| APL Apollo Tubes | 1948.80 |
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