India’s Vedanta Limited, the parent company of ESL Steel Limited, will invest $348 million in the expansion projects of the latter, a company statement said on Tuesday, March 29.
Vedanta Limited said that the investment will be riding on ramping up capacity of ESL Steel Limited’s mill at Bokaro in the eastern state of Jharkhand to 3 million mt per year from 1.5 million mt per year.
The expanded capacity will be achieved by adding one new blast furnace supported by a new coke oven battery, an oxygen plant and supporting logistics like railway sidings. A 180,000 mt per year capacity ductile pipe manufacturing unit will also be added to the steel mill.
“The capacity expansion will be achieved through the lowest cost and will add a premium product portfolio,” the company said.