Business Update21 Mar 2024, 08:49 pm
Shyam Metalics and Energy Ltd Announces INR 450 Crore Greenfield Expansion into Aluminium Flat Rolled Products
AI Summary
Shyam Metalics, a leading and fastest-growing integrated metal-producing group, has announced an ambitious foray into a greenfield expansion project focused on aluminium flat-rolled products. The group intends to invest INR 450 crores and plans to generate over 1000 direct and indirect jobs. The expansion will significantly contribute to sustainable manufacturing and supporting India's EV sector.
Key Highlights
- Shyam Metalics plans to invest INR 450 crores in a greenfield expansion project for aluminium flat-rolled products
- The expansion will generate over 1000 direct and indirect employment opportunities
- The plant, with an annual capacity of 60,000 metric tons per year, will cater to the increasing demand for aluminium flat-rolled products
- The expansion also includes the establishment of cutting-edge battery foil mills to cater to the growing EV market
- Shyam Metalics is committed to sustainable manufacturing using green energy and advanced recycling technologies