A 50 MW Captive Floating Solar Power Project is being built in Odisha by Shyam Metalics and Energy Limited (SMEL), an established integrated metal-producing firm with headquarters in Kolkata.

With this project, Shyam Metalics hopes to fulfil its commitment to the environment and become the first metal-producing company in the state of Odisha with a significantly lower carbon footprint.

Through its flagship company, M/s. Shyam Metalics and Energy Ltd. (SMEL), Shyam Metalics and Energy Limited aligns itself with the developing state of Odisha and chooses to promote itself as one of India's top Iron and Steel Manufacturers.

The company’s integrated steel facility at Rengali, Sambalpur has a total steelmaking capacity of 3 MTPA, as well as a 158 MW power plant and a 3.0 MTPA pellet plant.

The total investment in the factory to date is more than 3000 crore, and it employs over 10,000 people.

The company’s Investment Board has now suggested increasing investment in the state of Odisha considering the government’s assistance.