Shyam Steel, a maker of TMT bars, announced an investment plan in Bengal for Rs 2500 crore over FY’25 for capacity expansion and growing retail operations throughout North India.
The Kolkata-based company announced that it will use both brownfield and greenfield initiatives to increase its yearly production capacity from 0.7 million tonnes to 1.35 million tonnes.
“By April 2023, Shyam Steel plans to expand its capacity to 1 million tonnes per annum by a major brownfield investment of Rs 1000 crore in its state-of-the-art integrated steel plant in Mejia, Durgapur. The work for the plant will be completed by April 2023,” company director Lalit Beriwala said.
“Another Rs 1500 crore will be spent in a greenfield plant in West Bengal. The company has already acquired 600 acres of land in Raghunathpur, Purulia, and the work for the project will commence shortly. The plant will have a production capacity of 0.35 million tonnes per year and it will be fully operational by September 2025,” he said.
