VSP commences its capacity expansion plan
Indian steel producer Visakhapatnam Steel Plant (VSP) reportedly commenced the first phase of its capacity expansion plan. As reported by SteelOrbis, VSP had previously announced the details of its mega-expansion project. Accordingly, the first phase of the project, involving an investment of Rupees 30 billion ($654 million) has started. The first phase of the expansion will increase annual production capacity of the company to 5 million tons from the current 3 million tons by 2008. As a part of the first phase of the expansion project, VSP has already started the construction of the fourth coke oven battery, which requires an investment of Rupees 4.5 billion ($98.1 million). When all the phases of the project are completed, annual production capacity of the company will reach 10 million tons by 2018.