Shyam Metalics Signs MoU with Maharashtra for ₹50,000 Crore, 9 MTPA Integrated Steel Complex in Chandrapur
Shyam Metalics and Energy Limited has signed a non-binding Memorandum of Understanding (MoU) with the Government of Maharashtra. The MoU covers a proposed 9 million tonnes per annum (MTPA) greenfield integrated steel complex in Chandrapur, in the Vidarbha region. The company announced the project on 2 October 2026.
The company has indicated an estimated investment of ₹50,000 crore. The project is expected to create about 30,000 jobs, of which 10,000 would be direct and 20,000 indirect.
The company has said it began the process in FY26-27 of seeking approvals, permissions, registrations, clearances and fiscal incentives from the Maharashtra government. Because the MoU is non-binding, execution depends on those approvals and other conditions. The reports reviewed give no timeline, land details or funding mix.
The project marks the company's first major move beyond eastern India, where its operations are in Odisha, West Bengal and Jharkhand. The complex is expected to include integrated steel manufacturing facilities.
The scale suggests demand over time for EPC contractors, plant and machinery suppliers, power and logistics infrastructure, and raw material handling systems, as the project moves past the approval stage.
