Shyam Metalics & Energy is set to invest around Rs 50,000 crore in a greenfield integrated steel complex in Chandrapur, Maharashtra, with a planned capacity of 9 million ton per annum (MTPA). The company has entered into a non-binding memorandum of understanding with the Maharashtra Government for the proposed project.
The development is planned in two phases, with the first phase targeting 3.75 MTPA of finished steel capacity, followed by an additional 5.25 MTPA in the second phase. The integrated facility is expected to include pelletisation, sintering, coke-making, blast furnace operations, direct reduced iron (DRI), steel melting and continuous casting facilities.
The project is expected to create around 30,000 employment opportunities, comprising approximately 10,000 direct and 20,000 indirect jobs. The company is expected to initiate the process for securing the required approvals and clearances during FY2026-27. The investment is expected to further strengthen Maharashtra’s industrial and steel manufacturing ecosystem.
