Shyam Metalics and Energy Ltd to Invest INR 650 - 750 crores to Build New Facility in Sambalpur, Odisha

Specifications:

Name:

Shyam Metalics and Energy Ltd to Invest INR 650 - 750 crores to Build New Facility in Sambalpur, Odisha

Location:

Sambalpur, Odisha

Company:

Shyam Metalics and Energy Ltd

Estimated Cost:

INR 650 - 750 crores

Source:

https://www.shyammetalics.com/

Introduction:

Shyam Metalics and Energy Ltd, the leading and fastest growing metals manufacturing company in India, is proud to announce the establishment of a new Stainless Steel Hot Rolled Coils (HRC) facility at its existing plant in Sambalpur, Odisha.

Features:

The new facility, boasting a capacity of 0.3 Million Metric Tons Per Annum (MTPA), will specialize in the production of 200 and 400 series stainless steel hot rolled coils by utilizing captive raw materials such as direct-reduced iron (DRI), power and ferroalloys in a reliable and efficient supply chain, while maintaining uncompromising quality standards throughout the manufacturing process.

In a move to bolster its capabilities in the long products sector, Shyam Metalics has also applied for the acquisition of a new 20-acre land parcel at the newly acquired Mittal Corp. which is now merged with its Material wholly owned subsidiary Shyam Sel and Power Limited, dedicated to downstream products from its wire rod division. This expansion initiative includes plans to establish a Stainless Steel (SS) bright bars capacity of 25,000 Metric Tons Per Annum (MTPA) and an SS wires division with a capacity of 18,000 Metric Tons Per Annum (MTPA).

The Project is expected to be commissioned by Mid of F.Y 2026-27.