In response to rumours that the company would be leaving the steel industry, Vedanta Group stated that it was committed to finishing the expansion of Electrosteel Steels Ltd. from 1.5 million tonnes to three million tonnes. Four years ago, the Vedanta Group, headed by Anil Agarwal, acquired Electrosteel Steels.
“As of date, this (exiting Electrosteel) is not a topic for us. The only priority is to raise the (production) capacity to 3 million tonnes,” Vedanta Group CEO Sunil Duggal told reporters when asked about the reports of exiting the steel business.
“I just visited the Electrosteel facility and reviewed the progress,” he said.
He was at the curtain raiser event of CII organised Global Mining Summit 2022.
