Chandigarh, Aug. 29 -- Vardhman Special Steels Limited (VSSL) on Thursday announced a new Rs.2,500 crore greenfield special and alloy steel plant in Ludhiana district.

The project to be set up in a joint venture with Aichi Steel Corporation (ASC), Japan, was announced by VSSL vice chairman and managing director Sachit Jain in the presence of industries and commerce minister Sanjeev Arora at a press conference here. ASC is a world leader in special steel for automotive applications. Arora said that the plant, having an installed capacity of 5 lakh tonnes per annum, would reflect the commitment to establish a sustainable, technologically advanced, and globally competitive steel manufacturing facility in the state.

Arora said the plant wou...