Shyam Metalics to Invest Over $5 Billion in Greenfield Steel Complex in Maharashtra
Shyam Metalics and Energy signed an agreement with the Maharashtra government to invest more than $5 billion in a new steel complex in Chandrapur, Maharashtra. The greenfield plant will have a capacity of 9 million metric tonnes per year and is expected to create around 30,000 jobs. Operations are slated to begin in the current financial year, pending required approvals.1
The project’s scale and job creation potential could significantly boost the region’s industrial output and employment landscape, aligning with broader economic development goals for the state.1