Shyam Metalics Signs MoU for ₹50,000 Crore Steel Complex

has signed a Memorandum of Understanding (MoU) with the Government of Maharashtra to establish a 9 MTPA integrated steel complex in Chandrapur, Maharashtra. The proposed greenfield project involves an estimated investment of ₹50,000 crore and is expected to become one of the largest single industrial investments in the Vidarbha region. The project will be developed in two phases, with Phase I comprising 3.75 MTPA of finished steel capacity and Phase II adding another 5.25 MTPA. The fully integrated facility is planned to cover the complete steel-making process, including pelletisation, sintering, coke making, ironmaking through blast furnace and DRI processes, steel melting, continuous casting and downstream rolling and finishing. Chandrapur offers proximity to iron ore reserves in Gadchiroli, coal deposits in the Chandrapur mining belt and other minerals such as limestone and dolomite, along with rail, road and power infrastructure. The company expects the complex to cater to sectors including infrastructure, construction, automotive, railways, renewable energy, oil and gas and heavy engineering. The project is expected to generate around 10,000 direct and 20,000 indirect employment opportunities and could support the development of MSMEs, fabrication units, engineering and logistics businesses in the region. Shyam Metalics also plans to incorporate waste heat recovery, coke dry quenching and closed-loop water treatment systems for resource-efficient operations. The company said it plans to commence obtaining the required permissions, registrations, approvals and clearances during FY27. Investors should monitor regulatory approvals, project execution, funding requirements and the eventual commissioning timeline, as the ₹50,000 crore figure represents a proposed investment rather than immediate revenue or profit. Disclosure: I do not hold any position or financial interest in the mentioned stock.