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
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 (mt). “We have to take it to 15-20 mt. We are either in that business or we are not.”
First Published: Jul 10 2023 | 5:49 PM IST