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Betting on India's growth, top steel firms in midst of big expansion plans

Private sector steel-makers have aggressive expansion plans to the end of the decade betting on faster economic growth

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In FY23, around Rs 50,000 crore has been spent on capex with the top six accounting for 75-80 per cent of the spend

6 min read Last Updated : Jul 10 2023 | 5:49 PM IST

On June 30, mining and metals giant Vedanta, announced that it had decided to initiate a strategic review of its steel and steel-making raw material businesses. The review would begin immediately and evaluate a broad range of options, including but not limited to a potential strategic sale of some or all of the steel businesses, the company said in its stock exchange filing.

The signs have been there – approaches had been made to steel players over the past year. Last December, Anil Agarwal, chairman Vedanta group, told Business Standard that the steel plant capacity was about 3 million tonnes

Topics : steel Steel Industry

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