Shyam Metalics and Energy Ltd Expands into Stainless Steel Flat Products, Announces New Facility

Shyam Metalics and Energy Ltd, a leading metals manufacturing company in India, has announced the establishment of a new Stainless Steel Hot Rolled Coils (HRC) facility at its existing plant in Sambalpur, Odisha. The company plans to produce 200 and 400 series stainless steel hot rolled coils with a capacity of 0.3 MTPA. Additionally, Shyam Metalics has applied for the acquisition of a new 20-acre land parcel for the establishment of Stainless Steel bright bars and wires divisions with a capacity of 25,000 MTPA and 18,000 MTPA, respectively. The expansions are estimated to generate approximately 1500 new employment opportunities and are expected to be commissioned by mid-FY 2026-27. The estimated capital outlay for the project is around INR 650-750 crores.