Shyam Metalics Group has taken a step towards strengthening its raw material security after Alom Solar Private Limited, in which the Group has invested, was declared the successful bidder for the mining rights to the Phutamura Coal Block in Chhattisgarh. Located in Raigarh district within the Mand–Raigarh coalfield, the coal block covers approximately 7.324 square kilometres and has estimated reserves of around 170 million tonnes. Mining operations and coal production are expected to begin in July 2027.
The development is part of Shyam Metalics Group’s strategy to strengthen backward integration and secure long-term access to coal for its captive power generation and steel manufacturing operations. The Group expects the coal block to support fuel availability, improve supply-chain stability and help manage raw material costs over the long term.
Commenting on the development, Brij Bhushan Agarwal, Chairman and Managing Director of Shyam Metalics and Energy Limited, said the investment in Alom Solar and the acquisition of mining rights for the Phutamura Coal Block marked an important step towards greater self-reliance.
He said securing long-term raw material supplies was important as the company expanded its manufacturing capacity. The estimated 170 million tonnes of coal reserves would strengthen the Group’s backward integration framework and support fuel requirements for its captive power plants and steel operations. He added that the initiative reflected the company’s focus on operational resilience, sustainable growth and long-term value creation.
Coal is an important input for the Group’s captive power generation and steel manufacturing activities. The planned development of the Phutamura block is intended to strengthen the link between its raw material resources and downstream operations. The expected start of production in July 2027 provides a timeline for the next stage of the project.
Shyam Metalics and Energy Limited is an integrated metal-producing company headquartered in Kolkata, West Bengal. Its operations are spread across West Bengal, Odisha, Jharkhand and Madhya Pradesh, with a focus on long and flat steel products, ferro alloys, aluminium and stainless steel.
The company was listed on stock exchanges in 2021 and has a market capitalisation of more than ₹30,000 crore, according to the company’s announcement. It is also among India’s largest ferro alloy producers by installed capacity. The Phutamura coal block is expected to add to the Group’s resource base and support its efforts to strengthen supply security as its manufacturing operations grow. Through the investment in Alom Solar Private Limited and the planned development of the block, Shyam Metalics Group aims to improve control over a key input for its energy and steel businesses.
Listed on Indian stock exchanges since 2021, Shyam Metalics currently holds a market capitalisation of approximately ₹25,473 crore. The company maintains a diversified product portfolio and operates across the entire steel value chain, offering both intermediate and finished products.
