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Hopeful of V-shaped recovery for steel sector: CEO Vedanta Electrosteel

'Expectedly, steel enterprises like ours acquired from the sickbay have suffered major production setback since the outbreak of Covid-19'

PANKAJ MALHAN, chief executive officer of Vedanta Electrosteel Steels
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'A stimulus package equal to 10 per cent of our gross domestic product is designed to inject the much-needed liquidity into the system', says PANKAJ MALHAN, chief executive officer of Vedanta Electrosteel Steels.

Kunal Bose
A sharp fall in steel demand and production has put a question mark on the revival of sick steel units acquired through the insolvency and bankruptcy code (IBC) route. But PANKAJ MALHAN, chief executive officer of Vedanta Electrosteel Steels, tells Kunal Bose that stimulus packages and progressive demand revival from steel-user industries have started breathing life into ailing steelmakers. Edited excerpts:

Will economic dislocation caused by Covid-19 have major bearing on the revival of bankrupt steel companies acquired by strong groups through the IBC route?

Covid-19 has not spared any sector. Expectedly, steel enterprises like ours acquired from the sick

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First Published: May 28 2020 | 6:39 PM IST

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