Shyam Metalics and Energy is preparing a long-term investment roadmap in West Bengal, with future capital allocation expected to depend on the state’s upcoming industrial, land acquisition, and incentive policies.
The company has outlined a proposed investment pipeline of Rs 20,000 crore for the state over the next four to five years. Of this, nearly Rs 10,000 crore has already been committed to projects currently under execution.
A major part of the investment includes a Rs 4,000 crore specialty steel and wagon manufacturing facility at Kharagpur, being developed at the site acquired through Ramsarup Industries. The project is expected to become operational within the current year.
In addition, the company is investing around Rs 6,000 crore towards setting up a hot-rolled coil manufacturing facility at Jamuria, with commissioning targeted over the next two years.
The balance Rs 10,000 crore is expected to be channelled into new businesses spanning metals, mining, power, energy, and infrastructure, subject to the rollout of favourable state policies and industrial incentives.
As part of its broader growth strategy, Shyam Metalics is targeting a threefold rise in revenue to Rs 60,000 crore by 2031. The expansion is also expected to significantly enhance its manufacturing footprint in West Bengal, with plans to scale production capacity in the state to 32 million ton while increasing employment generation to nearly 50,000 people.