Vardhman Special Steels Limited (VSSL) has formally expanded its strategic partnership with Japan’s Aichi Steel Corporation, with the latter increasing its equity stake from 11.33pct to 24.90pct. The agreement was signed by VSSL Vice Chairman & Managing Director Sachit Jain and Aichi Steel President Naohide Goto.
The investment reflects Aichi Steel’s growing confidence in VSSL and the Indian steel sector and strengthens their collaboration toward establishing a world-class green steel manufacturing facility in India.
The planned facility will have an annual capacity of 500,000 tons. Backed by Aichi Steel’s technical support, the plant will integrate advanced Japanese technologies to produce high-quality special steels for domestic and ASEAN automotive and engineering markets.