Mann assures support to Vardhman Steels for setting up ₹1,750-cr plant

The project having installed capacity of about 5 lakh tonne per annum (TPA) will be set up in collaboration with Aichi Steel Corporation, Japan.

Chief minister Bhagwant Mann on Friday assured support to Vardhman Special Steels Limited (VSSL) for setting up a greenfield unit for manufacturing of special alloy steel through electric arc furnace route at a cost of ₹1,750 crore.

Mann said the Punjab government was committed to giving major fillip to investment in the state. (HT File)

During a meeting with VSSL vice-chairman and managing director Sachit Jain here, Mann said that the state government was committed to giving major fillip to investment in Punjab. He said the project having installed capacity of about 5 lakh tonne per annum (TPA) will be set up in collaboration with Aichi Steel Corporation, Japan. “The project is expected to give employment to over 1,500 youth in the state. The company will produce ‘green steel’ from this plant,” he said in a statement.