India's Vardhman Special Steels Limited (VSSL) is investing approximately $235 million in the construction of a new steel mill in the northern state of Punjab.
This is stated in the company's statement, according to SteelOrbis.
The planned capacity of the plant is 500 thousand tons of billets with the appropriate rolling condition and testing equipment.
It is noted that VSSL's strategic goal is to solve the expected capacity shortage after 2028, meet new original equipment (OEM) production quality standards, meet the trends of "green" steel and the circular economy, and expand production into new product segments such as wire rod and non-automotive products.
