Shyam Metalics acquires Mittal Corp
Steel

Shyam Metalics acquires Mittal Corp

Shyam Metalics and Energy Ltd, an integrated metal producer with headquarters in Kolkata, has announced the acquisition of Mittal Corp Ltd, a stainless steel, wire rod, and bar mill company with headquarters in Indore.

With the acquisition, Shyam Metalics' capacity for stainless steel, wire rod, and bar milling increases to 150,000 tonnes annually. According to a statement from the corporation, it will invest 75,000 million over the course of five years to further diversify its metals industries. Capex is probably going to reach $100,000,000,000 within the next five years to fund its inorganic and organic growth objectives.

By adding value-added long steel capacity of 2 mtpa from the current capacity of 1.47 mtpa, the company hopes to increase its annual steel capacity from 8.85 million tonnes to 14.45 million tonnes.

Shyam Metalics has already committed $24 billion of its $39.5 billion two-year capital investment plan.

Additionally, the new injection will enable it to increase its global reach and place large bets on export markets. It operates in more than 40 nations, and those markets account for 16% of its income.

Since the beginning of our operations in 2005, we have a positive PAT (profit after tax). According to Brij Bhushan Agarwal, vice chairman and MD of Shyam Metalics and Energy, "the present investments across portfolios will take us to the next level of diversification, business excellence, and increase domestic and worldwide footprint. The company will increase its capacities for pellets from 3.6 million tonnes (mt) to 6.0 mt, sponge from 2.10 mt to 2.90 mt, billet from 1.47 mt to 2 mt, and finished steel from 1.47 mt to 2 mt during the course of the next six months.

Additionally, the corporation wants to enhance the capacity of its captive power plant from 267 megawatts (mw) to 357 mw.

Shyam Metalics and Energy Ltd, an integrated metal producer with headquarters in Kolkata, has announced the acquisition of Mittal Corp Ltd, a stainless steel, wire rod, and bar mill company with headquarters in Indore. With the acquisition, Shyam Metalics' capacity for stainless steel, wire rod, and bar milling increases to 150,000 tonnes annually. According to a statement from the corporation, it will invest 75,000 million over the course of five years to further diversify its metals industries. Capex is probably going to reach $100,000,000,000 within the next five years to fund its inorganic and organic growth objectives. By adding value-added long steel capacity of 2 mtpa from the current capacity of 1.47 mtpa, the company hopes to increase its annual steel capacity from 8.85 million tonnes to 14.45 million tonnes. Shyam Metalics has already committed $24 billion of its $39.5 billion two-year capital investment plan. Additionally, the new injection will enable it to increase its global reach and place large bets on export markets. It operates in more than 40 nations, and those markets account for 16% of its income. Since the beginning of our operations in 2005, we have a positive PAT (profit after tax). According to Brij Bhushan Agarwal, vice chairman and MD of Shyam Metalics and Energy, the present investments across portfolios will take us to the next level of diversification, business excellence, and increase domestic and worldwide footprint. The company will increase its capacities for pellets from 3.6 million tonnes (mt) to 6.0 mt, sponge from 2.10 mt to 2.90 mt, billet from 1.47 mt to 2 mt, and finished steel from 1.47 mt to 2 mt during the course of the next six months. Additionally, the corporation wants to enhance the capacity of its captive power plant from 267 megawatts (mw) to 357 mw.

Next Story
Infrastructure Transport

Railway stations in Prayagraj undergo major passenger facility expansion

The Railway Board Chairman and CEO, Satish Kumar, conducted an extensive inspection on Saturday alongside the General Manager of Northern Railway and the officiating General Manager of North Central Railway. Their visit focused on various ongoing projects at multiple stations across the Northern and North Central Railway zones, with particular attention to enhancing facilities for the upcoming Maha Kumbh. During the inspection, Chairman Kumar reviewed the construction of a vital bridge over the River Ganga, specifically between Jhunsi and Prayagraj Rambagh. This bridge is expected to significa..

Next Story
Infrastructure Transport

Madurai-Thoothukudi broad gauge line works under review

The construction of the Madurai-Thoothukudi broad gauge line, which includes the crucial Melmarudur-Tiruparankundram project, is currently under careful review. This update comes from Southern Railway's assistant public information officer, J Kumarasubramanian, following an RTI inquiry made by a concerned citizen, Dayanand Krishnan. The new broad gauge line is projected to cover a total length of 143.5 km, with the initial 18 km stretch between Milavittan and Melmarudur completed and sanctioned by the Commission of Railway Safety on March 8, 2022. While substantial progress has been made on t..

Next Story
Real Estate

DLF expects Rs 26,000 cr from super luxury project in Gurugram

Realty giant DLF is projecting impressive revenue of Rs 26,000 crore from its newly unveiled super-luxury project, The Dahlias, situated in the heart of Gurugram. Ashok Tyagi, the Managing Director of DLF, shared these insights during a recent conference call with market analysts, highlighting the project's potential amidst rising demand for high-end residential properties. The Dahlias project spans an expansive 17 acres and is set to feature approximately 420 ultra-luxury apartments, each boasting a minimum size of 10,300 square feet. This ambitious development has already garnered significan..

Hi There!

"Now get regular updates from CW Magazine on WhatsApp!

Join the CW WhatsApp channel for the latest news, industry events, expert insights, and project updates from the construction and infrastructure industry.

Click the link below to join"

+91 81086 03000