Punjab: Vardhman To Invest Rs 2,500 Crore In Greenfield Steel Plant At Ludhiana
Vardhman Special Steels Limited (VSSL) on Thursday (28 August) announced plans to set up a Rs 2,500 crore greenfield special and alloy steel plant in Ludhiana district in partnership with Japan’s Aichi Steel Corporation (ASC), Hindustan Times reported.
The announcement was made by VSSL vice chairman and managing director Sachit Jain in the presence of Punjab industries and commerce minister Sanjeev Arora.
The plant will be established with an installed capacity of 5 lakh tonnes per annum and will focus on producing high-quality steel for automotive applications, catering to both domestic and global markets.
Production will be carried out through the electric arc furnace (EAF) route, enabling energy efficiency, reduced carbon emissions, and clean steel manufacturing.
Arora said the facility reflects Punjab’s commitment to sustainable and globally competitive industrial growth.
The project is expected to generate 1,500 direct jobs and create significant indirect employment across ancillary sectors.
Alongside the steel plant, VSSL will invest an additional Rs 500 crore in a solar power facility to meet energy requirements, taking the overall investment to Rs 2,500 crore.
Jain emphasised that the project will prioritise “green steel” by melting steel scrap with energy-efficient technologies and renewable power, aligned with India’s net-zero vision.
The Ludhiana facility will be developed on the Toyota way layout model, focusing on operational excellence, safety, and efficiency. ASC, a global leader in special steels for the automotive sector, is expected to bring advanced technology and expertise to the venture.
Please click here to add Swarajya as your preferred and trusted news source on Google.