Shyam Metalics and Energy to invest ₹50,000cr in Chandrapur plant
Business
Shyam Metalics and Energy is putting ₹50,000 crore into a brand-new steel plant in Chandrapur, Maharashtra.
The project aims for a big impact: 9 million metric tons of steel per year and about 30,000 new jobs (10,000 direct and 20,000 indirect).
If all goes well with approvals, they are hoping to get things running within this financial year.
Shyam Metalics expands beyond eastern India
This move marks Shyam Metalics and Energy's expansion beyond its eastern India stronghold: they have mostly focused on the east until now with projects in Odisha, West Bengal, and Jharkhand.
By setting up in Maharashtra, they are looking to boost both their production and the region's economy.