Shyam Metalics and Energy Limited has signed an MoU with the Maharashtra Government to establish a 9 MTPA integrated steel project in Chandrapur. The company will invest an estimated 50,000 INR-Crore in the greenfield development, marking a major boost for India’s steel manufacturing sector.
The Chandrapur steel project will be developed in two phases. Phase I will create 3.75 MTPA of finished steel capacity. Subsequently, Phase II will add 5.25 MTPA, taking the total capacity to 9 MTPA. Moreover, the project is expected to generate around 30,000 direct and indirect employment opportunities. It will also support skill development initiatives for local youth and strengthen the region’s industrial ecosystem.
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The investment is further expected to benefit MSMEs and related industries. It will also drive economic activity and support manufacturing growth across the region. The Chandrapur steel project is set to enhance Maharashtra’s position as a key industrial destination while contributing to India’s expanding steel production capacity.
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Disclaimer: The information herein is based upon information obtained in good faith from sources believed to be reliable. All such information and opinions can be subject to change. Furthermore, the image featured in this article is for representation purposes only. It does not in any way represent the project. If you wish to remove or edit the article, please email editor@biltrax.com.
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