Shyam Metalics and Energy board of directors had authorised the expansion of its integrated facilities in Sambalpur and its material subsidiary’s factory in Jamuria.
The capital investment will be used to capitalise on business synergies and expand facilities in order to maintain cost leadership.
Cash flows produced from internal accruals would be used to arrange a total of Rs 990 crore. The projects will be built on existing land at the individual factories as brownfield expansions.
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