Punjab Chief Minister Bhagwant Mann has pledged full support to Vardhman Special Steels Limited (VSSL) for establishing a ₹1,750 crore special alloy steel manufacturing unit in the state. During a meeting with VSSL Vice Chairman and Managing Director Sachit Jain at his office, Mann reaffirmed the government’s commitment to promoting investments in Punjab.
The upcoming greenfield project will employ an electric arc furnace to produce special alloy steel, with an annual capacity of 5 lakh tonnes. The venture is being developed in partnership with Japan’s Aichi Steel Corporation.
The project is expected to create over 1,500 jobs and focus on producing “green steel,” with more than 20% of its output targeted for export to Japanese and European markets. Mann highlighted that the initiative will boost state revenues and strengthen Punjab’s position as an attractive destination for industrial investment.
He noted that VSSL’s global reputation and significant investment will encourage other companies to explore opportunities in Punjab. Mann also emphasized the state’s conducive business environment, marked by peace, skilled labor, robust infrastructure, and an investor-friendly culture. The chief minister shared that Punjab has secured investments worth ₹86,000 crore from leading firms like Tata Steel and Sanathan Textiles, underscoring the government’s ongoing efforts to transform Punjab into a thriving industrial hub.
Vardhman Special Steels Limited (VSSL) is a leading manufacturer of high-quality steel products, catering to diverse sectors including automotive, engineering, and defense. Based in Ludhiana, Punjab, VSSL is renowned for its advanced alloy and special steel solutions, which are widely used by major automotive OEMs and component manufacturers globally.
With a strong focus on innovation and sustainability, the company has adopted state-of-the-art technologies, such as the electric arc furnace route, to produce eco-friendly “green steel.” Its collaboration with Japan’s Aichi Steel Corporation further strengthens its position as a global player in the steel industry. Committed to quality and excellence, VSSL continues to expand its footprint in international markets while contributing to India’s industrial growth.
