Shyam Metalics Signs ₹50,000 Cr Steel Complex MoU with Maharashtra Govt.
Shyam Metalics & Energy Ltd (SMEL) has signed a Memorandum of Understanding (MoU) with the Government of Maharashtra to establish a 9 million tonnes per annum (MTPA) integrated steel complex in Chandrapur. The project represents an estimated investment of ₹50,000 crore, making it one of the largest industrial investments in the Vidarbha region. The greenfield facility will be developed in two phases and will manage the entire steel production process from raw material conversion to downstream finishing. This initiative is expected to create approximately 10,000 direct and 20,000 indirect jobs, fostering skill development and a downstream industrial ecosystem. The plant will incorporate advanced environmental safeguards and clean technologies for sustainable operations.
Key Highlights
- MoU signed with Maharashtra Govt. for a ₹50,000 crore integrated steel complex.
- Project to have a 9 MTPA capacity, developed in two phases.
- Expected to create 30,000 direct and indirect jobs in the Vidarbha region.
- Focus on sustainable manufacturing with advanced environmental safeguards.
- Aims to reduce India's reliance on imported steel.
Price Impact
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