Vardhman Special Steels Limited (VSSL) signed a formal agreement with Aichi Steel Corporation to increase its equity stake in VSSL from 11.33 percent to 24.90 percent. Backed by technical support from Aichi Steel, VSSL plans to develop a 5,00,000 TPA green steel manufacturing facility in Punjab, with an estimated capex of INR 2000 crore.
Jun 3, 2025
Vardhman Special Steels Limited (VSSL) has announced the formal signing of an agreement with Aichi Steel Corporation, Japan, to increase the latter’s equity stake in VSSL from 11.33 percent to 24.90 percent.
This investment represents a further deepening of the long-standing relationship between the two companies and underscores the enhanced partnership that is aligned with the shared vision of both organizations to develop a world-class green steel manufacturing facility in India, aimed at producing high-quality special steels for the global automotive and engineering industries.
The upcoming plant with a manufacturing capacity of 5 lakh TPA with an estimated capex of INR 2000 crore, backed by technical support from Aichi Steel, will integrate advanced Japanese processes and technology to serve both domestic and ASEAN markets.
Commenting on the occasion, Mr. Sachit Jain, said, “Aichi Steel Corporation’s increased investment highlights our shared vision for long-term growth and a sustainable future, reaffirming their trust in VSSL. We remain focused on disciplined execution, backed by strong governance and a commitment to quality, safety, and sustainability. This long-term partnership is set to create a world-class special steel plant in India to make green steel for the world, our contribution towards the ‘Make in India’ initiative.”
Mr. Naohide Goto, President, Aichi Steel Corporation, added, ‘‘We will strengthen our collaboration more than ever before, support our customers’ local procurement by delivering high-quality, low-cost, environmentally friendly steel products in a timely manner, and contribute to the development of a prosperous and sustainable Indian society.”
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The signing ceremony marks another major milestone in the growing Indo-Japanese industrial collaboration, reinforcing India’s position as a strategic hub for high-grade, environmentally responsible steel production.
