The Board of Directors of Shyam Metalics and Energy Ltd at its Meeting announced a new CAPEX of Rs. 810 crore for manufacturing of Flat Rolled Aluminium Products and Aluminium Foils along with Stainless Steel Bright Bars and SS Wire Rods. The Entire projects shall be funded through Internal Accruals.

Post stabilisation and understanding the Board has approved a CAPEX of 2,700 crore for production of Flat Rolled Aluminium Products which is a planned backward integration and shall be margin accretive and another aluminium foil plant of capacity 18000 tonne per annum which shall enhance both revenue and margins for the Company.

The Board has also approved expansion in the Stainless-Steel metal space by approving a plant for manufacturing of Stainless-Steel Wire Rods which shall further be used to manufacture Stainless Steel Bright Bars at a Capital outlay of Rs. 110 crore which shall enhance both the Revenues and Margins for the Company in forthcoming years.

The entire projects shall be funded through internal accruals.