Shyam Metalics to Invest Rs 50 bn in Bengal for National Expansion
Steel

Shyam Metalics to Invest Rs 50 bn in Bengal for National Expansion

City-based Shyam Metalics & Energy plans to invest over Rs 50 billion in Bengal over the next three to five years as part of its national expansion strategy to become a prominent metal conglomerate from the East.

Unlike the traditional approach of focusing on a single line of business within the diverse metal sector, Shyam Metalics aims to expand simultaneously in carbon steel, stainless steel, and aluminium foil. The majority of this expansion will occur in Bengal?s Jamuria near Asansol and Kharagpur, but the company will also extend its presence to Odisha and Madhya Pradesh, requiring an additional Rs 30 billion investment.

Brij Bhushan Agarwal, the vice-chairman and managing director of the company, described their business as a "FMCG basket of metals," which includes carbon steel, stainless steel, aluminium foil, ferro chrome, and captive power. Agarwal expressed his ambition to establish Shyam Metalics as a leading metal conglomerate from the East.

In the last two to three years, the company has already invested close to Rs 45 billion in Bengal, and its commitment to the state is set to increase. A significant aspect of Shyam?s investment is the revival of Ramsarup Industries, which suffered after the financial crisis of Lehman Brothers in 2008. Shyam acquired the struggling company through a joint venture from the bankruptcy court in 2022.

Currently, Shyam Metalics is investing Rs 20 billion in Kharagpur, where Ramsarup?s 350-acre plot plant is located. The plans for this site include building a blast furnace and setting up a ductile iron (DI) pipe plant.

City-based Shyam Metalics & Energy plans to invest over Rs 50 billion in Bengal over the next three to five years as part of its national expansion strategy to become a prominent metal conglomerate from the East. Unlike the traditional approach of focusing on a single line of business within the diverse metal sector, Shyam Metalics aims to expand simultaneously in carbon steel, stainless steel, and aluminium foil. The majority of this expansion will occur in Bengal?s Jamuria near Asansol and Kharagpur, but the company will also extend its presence to Odisha and Madhya Pradesh, requiring an additional Rs 30 billion investment. Brij Bhushan Agarwal, the vice-chairman and managing director of the company, described their business as a FMCG basket of metals, which includes carbon steel, stainless steel, aluminium foil, ferro chrome, and captive power. Agarwal expressed his ambition to establish Shyam Metalics as a leading metal conglomerate from the East. In the last two to three years, the company has already invested close to Rs 45 billion in Bengal, and its commitment to the state is set to increase. A significant aspect of Shyam?s investment is the revival of Ramsarup Industries, which suffered after the financial crisis of Lehman Brothers in 2008. Shyam acquired the struggling company through a joint venture from the bankruptcy court in 2022. Currently, Shyam Metalics is investing Rs 20 billion in Kharagpur, where Ramsarup?s 350-acre plot plant is located. The plans for this site include building a blast furnace and setting up a ductile iron (DI) pipe plant.

Next Story
Infrastructure Transport

Leh Airport Goes Green

Leh Kushok Bakula Rinpoche Airport is set to become India’s first airport powered by geothermal and solar energy, marking a significant milestone in sustainable aviation. This initiative, undertaken at an estimated cost of Rs 6.50 billion, aligns with efforts to transform Ladakh into a carbon-neutral region. With airports being major energy consumers, this project represents a crucial step toward reducing carbon emissions in aviation infrastructure.  The airport’s innovative approach involves replacing conventional air-conditioning systems with underfloor heating using geothermal..

Next Story
Infrastructure Urban

CCI Clears Tata Sons' Additional Stake Buy in Tata Play from Baytree

The Competition Commission of India has approved the acquisition of certain additional shareholding in Tata Play (Tata Play) by Tata Sons (Tata Sons) from Baytree Investments (Mauritius).The Proposed Combination involves the acquisition of 10% shareholding in Tata Play by Tata Sons.Tata Sons is an investment holding company, which is registered as a core investment company with the Reserve Bank of India and classified as a “Systemically Important Non-Deposit Taking Core Investment Company”.Tata Play, formerly known as Tata Sky, is one of India’s leading content distribution platforms pro..

Next Story
Infrastructure Urban

DARPG Releases 31st CPGRAMS Report for February 2025

The Department of Administrative Reforms and Public Grievances (DARPG) has released the 31st monthly report on the Centralised Public Grievance Redress and Monitoring System (CPGRAMS) for States and Union Territories (UTs) for February 2025. The report provides insights into the volume of grievances received, disposal rates, and major grievance categories across different states and UTs. Key Highlights from the Report Grievance Statistics: A total of 52,464 grievances were received in February 2025. 50,088 grievances were redressed during the month. As of 28th February 2025, the total pen..

Advertisement

Advertisement

Subscribe to Our Newsletter

Get daily newsletters around different themes from Construction world.

STAY CONNECTED

Advertisement

Advertisement

Advertisement

Advertisement

Talk to us?