Board of Shyam Metalics & Energy approves capex of Rs 2,700 cr

At meeting held on 11 May 2026

The board of Shyam Metalics & Energy at its meeting held on 11 May 2026 has approved new projects/ expansion plan of the company and its subsidiaries involving capital expenditure of Rs 2,700 crore as follows:

Details of approved projects:

1. Long & Speciality Wire Road and Bar Mill (SBQ Mill) with furnace at Kharagpur
Capacity - 8,00,000 TPA
Budget - Rs 900 crore
Expected commissioning - 31 March 2029

2. Expansion of Stainless Steel with downstream facilities from 0.50 MTPA TO 0.60 MTPA with SS Cold Rolling Mill, SS Precision Cold Rolling Mill, S Hot Rolling Annealing & Pickling Line and SS Bright Annealing Line at Sambalpur.
Capacity - 6,00,000 TPA
Budget - Rs 1800 crore
Expected commissioning - 01 March 2029