New Delhi: Newly-listed Vedanta Iron And Steel Ltd (VISL) on Wednesday said it aims to become a major resource-backed integrated steel platform mainly driven by long-life reserves and operational integration.
The company said it is focused on expanding value-added product capacity across high-silicon iron, ductile iron pipes, wire rods and rebars.
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The company said it is focused on expanding its capacity across silicon iron, ductile iron pipes, wire rods and rebars.
Supported by approximately 4 billion tonnes of iron ore reserves and resources, providing more than 50 years of raw material security, the company is building a platform designed to create long-term value across the iron ore and steel value chain.
"VISL's listing marks the beginning of a new growth phase for the company. We are building one of India's most integrated resource-backed iron ore and steel growth platforms, supported by long-life reserves, operational integration and a clearly defined expansion roadmap," Pankaj Kumar Sharma, CEO and Whole Time Director, VISL, said.
On Monday, Vedanta Iron and Steel made its debut on the BSE and National Stock Exchange of India Ltd (NSE).
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India's steelmaking capacity is expected to increase to 300 million tonnes (MT) by 2030 against the current installed capacity of 200 MT, supported by sustained investments in infrastructure, railways, energy, defence and urbanisation.
With domestic steel demand projected to grow at over 6-8 per cent annually, significantly ahead of global growth rates, the sector is expected to play a central role in India's economic development over the coming decade, the company said in a statement.
With operations spanning India and Africa, VISL operates a diversified portfolio of mining and steelmaking assets, including Sesa Iron Ore, ESL Steel Ltd, and Western Cluster Ltd in Liberia, alongside associated industrial businesses.
