Aichi Steel Corporation Increases Stake to 24.90% in Vardhman Special Steels Ltd with INR 384.90 Crores Investment

Vardhman Special Steels Limited (VSSL) and Aichi Steel Corporation, Japan, have signed an agreement under which Aichi Steel has increased its equity stake in VSSL from 11.33% to 24.90%. This investment of INR 384.90 Crores represents a further deepening of the long-standing relationship between the two companies and underscores Aichi Steel’s growing confidence in VSSL and the Indian steel market. The upcoming plant with a manufacturing capacity of 5 lac TPA and an estimated capex of Rs. 2000 crores, backed by technical support from Aichi Steel, will integrate advanced Japanese processes and technology to serve both domestic and ASEAN markets.