Vedanta Electrosteel

Vedanta joins 20 Korean display glass firms for manufacturing hub in India

Vedanta Group on Monday said it has signed memoranda of understanding (MoUs) with 20 Korean companies from the display glass industry for the development of an electronics manufacturing hub in India

Considering options on Electrosteel: Vedanta Resources' Anil Agarwal

"But it has to have world-class capacity, and cannot be a small plant. We have a capacity of about 3 million tonnes (mt)... we are contemplating. We have to take it to 15-20 mt"

Vedanta says priority is to complete doubling Electrosteel capacity to 3 MT

Vedanta Group on Tuesday said it was focused on completing the expansion of Electrosteel Steels Ltd to three million tonnes from 1.5 million tonnes amid rumours about the company's exit from the steel business. Anil Agarwal-led Vedanta Group scooped Electrosteel Steels four years ago. "As of date, this (exiting Electrosteel) is not a topic for us. The only priority is to raise the (production) capacity to 3 million tonnes, Vedanta Group CEO Sunil Duggal told reporters when asked about the reports of exiting the steel business. "I just visited the Electrosteel facility and reviewed the progress," he said. He was at the curtain raiser event of CII organised Global Mining Summit 2022. The group was planning to invest USD 300-350 million in doubling the Electrosteel capacity out of the USD 2 billion investment announced by the group. During the day, he also sought regulatory flexibility for the mining sector.

ESL Steel capacity expansion by next year: Vedanta's Sunil Duggal

Mining giant says priority is to finish doubling capacity of company it acquired in June 2018

Steel firms say they are bullish on demand, prices after coronavirus crisis

Recovery has been sharp after the economy opened up, say industry leaders at a conclave

Hopeful of V-shaped recovery for steel sector: CEO Vedanta Electrosteel

'Expectedly, steel enterprises like ours acquired from the sickbay have suffered major production setback since the outbreak of Covid-19'

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

NCLAT allows Vedanta to make upfront payment of Rs 53 bn for Electrosteel

The appellate tribunal also reserved its order over Renaissance Steel's petition

Vedanta bids Rs 53.2 bn for Electrosteel, beats Tata Steel's offer

Tata Steel, which is the second highest bidder for Electrosteel, has offered Rs 20 billion less