Vardhman Special Steels Update - EC Approval Received; Clears Path For Expansion Plan: ICICI Securities

Sparks fly as a worker grinds the edge of a steel tube in Odisha. (Photographer: Dhiraj Singh/Bloomberg)

Vardhman Special Steels Update - EC Approval Received; Clears Path For Expansion Plan: ICICI Securities

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ICICI Securities Report

Vardhman Special Steels Ltd. has recently been granted the environmental clearance for expansion of capacity at its existing plant in Ludhiana, to up to 280000 tonnes per annum of rolled production.

The company applied for the said approval in CY19.

With this approval, the path for enhancement of capacity has been cleared.

To begin with, the current rolling capacity of 200000 tonnes per annum would be increased to 250000 tonnes per annum.

Total capex for the plan is expected to be ~250 crore.

Click on the attachment to read the full report:

ICICI Direct Vardhman Steel Company Update.pdf

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