Mumbai: Shyam Metalics and Energy on Friday, October 5, 2026, announced a Memorandum of Understanding (MoU) with the Maharashtra government to establish a 9 million tonnes capacity integrated steel complex in Chandrapur.
Project Details
The project will involve an estimated investment of ₹50,000 crore, making it one of Vidarbha region’s largest industrial investments, the company said. It aligns with the state’s goal to boost manufacturing growth and domestic steel-making.
Phased Development
The Greenfield Integrated Steel Complex will be developed in two phases. Phase I will achieve 3.75 MTPA finished steel capacity, followed by Phase II adding 5.25 MTPA in finished steel capacity.
Operational Scope
The fully integrated greenfield complex will manage the entire steel production journey on-site, from raw material conversion through pelletisation, sintering, and coke making, to ironmaking via blast furnace and direct reduced iron processes.
Employment Generation
The complex is expected to create approximately 10,000 direct jobs and 20,000 indirect employment opportunities. This is intended to spur skill development initiatives across Vidarbha and catalyse a downstream industrial ecosystem.
Management Statements
P. Anbalagan, Principal Secretary (Industries, Investment & Services), Government of Maharashtra, said the investment would be a catalyst for Vidarbha’s socio-economic transformation. He added that the state government is committed to facilitating the project’s timely development and commissioning.
Brij Bhushan Agarwal, Chairman and Managing Director of Shyam Metalics and Energy, said the MoU marks a milestone in the company's growth journey and its dedication to nation-building. Agarwal noted the company would commence obtaining necessary permissions in FY 2026-27.
Disclaimer: This story is based on company exchange filings and is for informational purposes only. Investors should evaluate risks before making decisions.
