Shyam Metalics and Energy Ltd, a leading metal manufacturing giant in India, proudly announces its latest venture into the realm of Stainless-Steel Hot Rolled Coils (HRC), unveiling a cutting-edge facility at its Sambalpur plant in Odisha. This strategic move, approved by the Board of Directors in July 2023, signifies a significant leap forward for the company in the Stainless-Steel market.
With a robust capacity of 0.3 Million Metric Tons Per Annum (MTPA), the state-of-the-art facility is dedicated to producing high-grade 200 and 400 series stainless steel hot rolled coils. By utilizing captive raw materials such as direct-reduced iron (DRI), power, and ferroalloys, Shyam Metalics ensures an efficient and reliable supply chain, maintaining unparalleled quality standards throughout the production process.
Furthermore, Shyam Metalics is expanding its long products sector through the acquisition of a 20-acre land parcel at Mittal Corp., now merged with its subsidiary Shyam Sel and Power Limited. This expansion includes plans for a Stainless Steel bright bars capacity of 25,000 MTPA and an SS wires division with an 18,000 MTPA capacity, aimed at strengthening the company’s market presence.
Sanjay Agarwal, Joint Managing Director of Shyam Metalics, expressed excitement about the prospects that stainless steel brings to the company. Dr. Deepak Kumar Gaur, Chief Operating Officer, emphasized the company’s commitment to quality and diversification into flat stainless steel products, poised to drive growth across key sectors such as automotive, construction, and infrastructure.
With an estimated capital outlay ranging from INR 650 to 750 crores and plans to commission the project by mid-F.Y 2026-27, Shyam Metalics aims to create approximately 1500 new job opportunities. This expansion underscores the company’s dedication to innovation and sustained growth, positioning itself as a key player in shaping India’s industrial landscape and contributing to its economic prosperity.
Shyam Metalics and Energy Ltd is a leading integrated metal producing company in India, specializing in ferro alloys, steel, and power. With a strong focus on sustainability and innovation, the company has established itself as a key player in the metal industry. Shyam Metalics operates state-of-the-art manufacturing facilities that adhere to stringent quality standards, ensuring the production of high-quality products.
The company’s commitment to excellence is reflected in its diverse product portfolio, which includes ferro alloys such as ferro chrome and ferro manganese, as well as long steel products like TMT bars and structural products. Shyam Metalics’ dedication to customer satisfaction, coupled with its strong emphasis on environmental and social responsibility, has earned it a reputation as a trusted and reliable partner in the metal industry.
