Vardhman Special Steels has plans to establish a new steel plant in Punjab. It will be a big move to enhance its production and expand the company.

Important Facts:
Production Capacity: The new plant will produce 5,00,000 metric tonnes of steel billets per annum. It will also possess a rolling mill as well as testing laboratories.

Investment: The firm will invest about Rs 2,000 crore (Rs 20 billion) in the project. This will be funded from its own resources, fresh shares, and borrowings.

Start Date: The plant will start operating in the financial year 2029–30.

Why This Is Important:
Vardhman wishes to be prepared for increased steel demand post-2028.

The plant will contribute to satisfying new quality requirements of carmakers and other sectors.

It enables “green steel” production and environmentally friendly objectives.

The organization also intends to produce new items such as wire rods and forgings, and sell to non-automotive industries.

Vice Chairman and Managing Director, Mr. Sachit Jain, remarked, “This new facility is an important step in our future development. It will enable us to serve demand, lower costs, and aid sustainability.”.