Shyam Metalics Signs ₹50,000 Crore MoU for Integrated Steel Complex in Chandrapur
Shyam Metalics signed an MoU with the Government of Maharashtra to set up a 9 MTPA integrated steel complex in Chandrapur with an investment of ₹50,000 crore. The project, to be developed in two phases, is expected to create 30,000 direct and indirect jobs and will commence obtaining approvals in FY 2026-27.
The MoU signifies a massive investment of ₹50,000 crore in a new integrated steel complex, which will significantly expand the company's production capacity and market presence. The creation of 30,000 direct and indirect jobs and the potential to reduce India's steel import reliance highlight a substantial impact on the company and the region.
The announcement details a significant investment in a new integrated steel complex, which is expected to create substantial employment opportunities and drive regional economic growth. This represents a major expansion and positive development for the company and the region.
Shyam Metalics & Energy Ltd (SMEL) has signed a Memorandum of Understanding (MoU) with the Government of Maharashtra to establish a 9 million tonnes capacity integrated steel complex in Chandrapur, Maharashtra. This project represents an estimated investment of ₹50,000 crore, making it one of the largest single industrial investments in the Vidarbha region.
The greenfield facility will be developed in two phases: Phase-I with 3.75 MTPA Finished Steel Capacity and Phase-II with 5.25 MTPA Additional Finished Steel Capacity. The integrated complex will manage the entire steel production journey, from raw material conversion through pelletisation and sintering to ironmaking, steel melting, casting, and finishing. The facility will produce high-quality, value-added steel for key sectors like infrastructure, construction, automotive, and railways, aiming to reduce India's reliance on imported steel.
The project is expected to create approximately 10,000 direct and 20,000 indirect jobs, fostering skill development and catalyzing an extensive downstream industrial ecosystem for MSMEs, fabrication units, and logistics providers. The development will incorporate advanced environmental safeguards, including waste heat recovery systems, coke dry quenching, and closed-loop water treatment systems.
Dr. P. Anbalagan, IAS, Principal Secretary (Industries, Investment & Services), Government of Maharashtra, stated that the investment will be a catalyst for the socio-economic transformation of Vidarbha. Mr. Brij Bhushan Agarwal, Chairman & Managing Director of Shyam Metalics and Energy Ltd, added that the company aims to obtain necessary permissions and approvals in FY 2026-27 and is committed to driving job creation and industrial prosperity across Vidarbha.
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Shyam Metalics and Energy Limited filed this with the NSE as a statutory disclosure, categorised under acquisition. It is a primary document, not a recommendation, and the desk marks it high impact, which is the band that most often changes something.
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See the model portfoliosA plain-language summary of a public exchange filing by Shyam Metalics and Energy Limited. Read the original for the full detail.