Shyam Metalics Signs MoU with Maharashtra Govt for ₹50K Cr Steel Plant

Shyam Metalics and Energy Limited has entered into a non-binding Memorandum of Understanding (MoU) with the Government of Maharashtra to establish a 9 MTPA Greenfield Integrated Steel Complex in Chandrapur, Vidarbha region. The project entails an estimated investment of ₹50,000 Crore and is expected to generate approximately 30,000 jobs (10,000 direct, 20,000 indirect). The Government of Maharashtra will facilitate necessary permissions, approvals, clearances, and fiscal incentives. The company plans to initiate the project in FY 2026-27.