VSP plans to expand its production capacity

VSP plans to expand its production capacity

According to recent news in the market, Indian steel producer Visakhapatnam Steel Plant (VSP) plans to increase its current production capacity of 3.5 million tons to 5 million tons by 2008 with an investment of Rupees 30 billion (approx. $650 million). Rupees 24 billion ($520 million) of total investment will be financed from company's internal accruals and the rest will be financed by BOT (build, operate and transfer) operator. Moreover, the company plans to increase its capacity to 10 million tons by 2018 with an investment of Rupees 170 billion ($3.6 billion). Share of specialty steels in total production of the company is currently 25% and this rate is aimed to be increased to 50%.