Electrosteel in expansion mode, eyes 10 mt capacity in 5-6 years

Electrosteel had a planned capacity of 2.5 mt, but the commissioned capacity was 1.5 mt

Vedanta-led Electrosteel Steels is eyeing a capacity of 10 million tonnes (mt) in the next five to six years through organic and inorganic options.

Electrosteel’s 1.5-mt capacity greenfield plant in Jharkhand’s Bokaro will be scaled up to 3 mt over the next two years in the first phase of expansion. It is likely to cost Rs 4,000-5,000 crore.

Pankaj Malhan, deputy chief executive officer, said other phases were also being planned. While the ramp-up from 3 mt to 6 mt will happen at Bokaro, for the next phase, the company could look at setting up a greenfield project