Shyam Metalics and Energy Ltd has officially commenced operations at the Ramsarup plant in Kharagpur, marking a significant milestone for the company’s expansion plans. The plant, acquired in May 2022 through its subsidiary Shyam Sel and Power Limited, is poised to become a key player in the region’s industrial landscape. With this development, Shyam Metalics aims to contribute to the socio-economic growth of the area by creating approximately 2,000 job opportunities.
Equipped with state-of-the-art infrastructure, the Ramsarup plant features a direct reduced iron (DRI) unit with a capacity of 150,000 tonnes per annum (TPA) and an integrated captive power plant (CPP) capable of generating 20 Megawatts (MW) of power.
B Bhushan, Vice Chairman & Managing Director of Shyam Metalics and Energy Limited, underscored the company’s commitment to operational excellence and value creation in the steel sector. He stated, “In addition to this announcement, the series of capex [capital expenditure] announcements made in the last two financial years shall also be operational in the upcoming financial years. By harnessing the synergies between our organizations and implementing best practices, we are well-positioned to drive innovation, efficiency, and value creation in the steel sector.”
The commencement of operations at the Ramsarup plant signifies Shyam Metalics’ strategic expansion efforts and its dedication to contributing to the growth and development of the regions in which it operates. The company’s focus on leveraging technology, fostering innovation, and promoting sustainable practices underscores its commitment to long-term success and stakeholder value.
With the Ramsarup plant now operational, Shyam Metalics is poised to strengthen its position as a leading player in the steel industry, driving growth, prosperity, and progress in the regions it serves.