March 2, 2017 / 7:22 AM / 5 months ago

BRIEF-Essar Steel India to tap defence sector

1 Min Read

March 2 (Reuters) - Essar Steel India:

* Essar Steel to tap defence sector

* Says Essar Steel aims to participate in indigenisation of products used in naval defence

* Estimated expenditure in defence sector is over USD 200 billion over the next 5 years

* Has set up a 1.5 MTPA 5-metre-wide steel plate facility at Hazira to meet requirements of defence sector

Source text:

Essar Steel has forayed into the high growth Defence manufacturing sector by developing steel grades which find application in Land and Naval Defence. The estimated expenditure in Defence sector is over USD 200 billion over the next 5 years.

The company has developed several products which are import substitutes as well as innovated to develop indigenous armour plate for ballistic protection.

Further company coverage:

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