Vardhman to set up Rs 2K-cr steel plant in Ludhiana

Cabinet minister Sanjeev Arora on Thursday said Vardhman Special Steels Limited (VSSL) would set up a greenfield special and alloy steel plant in Ludhiana. The plant would be set up in a joint venture with Aichi Steel Corporation (ASC), Japan.

Arora said Rs 2,000 crore would be invested in the plant. It would have an installed capacity of 5 lakh tonne per annum of alloy & special steel and would cater to both domestic and global automotive entities.

He said a solar power plant would also be set up with an outlay of additional Rs 500 crore. The plant would provide direct employment to over 1,500 persons, he said.

Sachit Jain, VSSL vice-chairman and managing director, said the focus would be on producing green steel through melting of steel scrap by using energy-efficient technologies.