Vardhman Special Steels to Revolutionize Punjab with State-of-the-art Greenfield Plant
Vardhman Special Steels Limited partners with Japan's Aichi Steel Corporation to establish a cutting-edge steel plant in Ludhiana, Punjab, with a focus on renewable energy. The ₹2,500 crore project includes a solar power plant and aims to produce clean steel, create jobs, and boost Punjab's industrial growth.
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- India
In a significant development for Punjab's industrial sector, Vardhman Special Steels Limited (VSSL) has unveiled plans to establish a Greenfield Special Steel and Alloy Steel Plant in Ludhiana. The venture, in collaboration with Japan's Aichi Steel Corporation, entails a capital investment of ₹2,500 crore, including a dedicated ₹500 crore solar power plant.
Announced by Punjab Cabinet Minister Sanjeev Arora, the new facility will feature an installed capacity of 5 lakh tonnes per annum of alloy and special steel, targeting both domestic and international automotive markets. The Electric Arc Furnace route will be utilized, highlighting a commitment to energy efficiency and reduced carbon emissions.
VSSL's project, underscored by a focus on 'green steel,' promises over 1,500 direct jobs and significant indirect opportunities for local MSMEs and service providers. The joint venture with Aichi Steel Corporation will leverage world-class technology to enhance Punjab's position as a sustainable steel manufacturing hub.
(With inputs from agencies.)
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