Shyam Metalics & Energy to invest ₹50,000 cr in 9 mtpa plant

Shyam Metalics & Energy to invest ₹50,000 cr in 9 mtpa steel plant in Maharashtra

SEBI RA – Shubh Consultancy – Sunil Kotak – INH000015826 Shyam Metalics & Energy, a leading metals and minerals producer, plans to set up an integrated steel complex of 9 million tonne per annum at Chandrapur in Maharashtra with an investment of ₹50,000 crore. The company has signed a Memorandum of Understanding with the Maharashtra government to make one of the single largest investment in the Vidarbha region. The Chandrapur district sits close to iron ore reserves in Gadchiroli, and coal deposits across the Chandrapur mining belt has proximity to essential minerals such as limestone and dolomite. All the required mineral blocks are well-connected by rail, road and power infrastructure. In the first phase, the company will set up 3.75 mtpa finished steel capacity followed by 5.25 mtpa in the second phase. The plant will have onsite raw material conversion through pelletisation, sintering and coke making, followed by ironmaking via blast furnace and direct reduced iron processes, steel melting, continuous casting and downstream rolling and finishing. All this is for information This is not a buy/sell recommendation. Thank you, Technofunda24