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

Steel Product

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

Ishita Ayan Dutt Kolkata
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

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