25
Mar
15:37
Vedanta board approves steel, zinc capacity expansion project
India’s Vedanta has approved $1.5 billion to increase its steel, zinc and oil production capacity. Capex allocations for steel and zinc are pegged at $348 million and $466m, respectively.
Vedanta aims to enhance its steel subsidiary ESL Steel’s capacity by 3m tonnes/year and also plans to install an additional blast furnace, coke oven, oxygen plant and pelletisation plant, Kallanish notes.
“The steel expansion project with an investment of …
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