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News: Vesuvius Group, a global corporate giant in the field of design, engineering, manufacture, and delivery of refractory, systems and services for high-technology industrial applications (especially steel) intends to invest minimum Rs 500 crore in its various manufacturing units/plants located in different cities, including Kolkata, Vizag, Pune, Pondicherry, and Mehsana within three to five years in India through its subsidiaries including Vesuvius India. The company has 27 manufacturing units worldwide
Views: VIL is aggressively going for future expansion in India to meet rising demand for refractories as so many new steel plants coming up in the country and existing ones are expanding their capacity. India is likely to witness an incremental production of nearly 15-20 million tonnes (MT) of steel in the next three years from companies such as JSW Steel, JSPL, Tata Steel and SAIL. With new capacities coming up from VIL we expect higher revenue growth, export opportunities and market share gains, going ahead
Impact: Positive