Shyam Metalics and Energy Ltd

Shyam Metalics and Energy inaugurated a stainless steel hot rolled coils facility at its Sambalpur, Odisha plant, with a capacity of 0.3 million metric tons per annum. The facility produces 200 and 400 series stainless steel HRC.

Shyam Metalics and Energy announced plans to invest INR 450 crore to set up a greenfield aluminium project in Odisha, India, with an annual capacity of 60,000 metric tonnes of aluminium flat-rolled products. The project is expected to create nearly 1,000 jobs.

The National Company Law Tribunal (NCLT) approved the acquisition of steel maker Mittal Corp Ltd by Shyam Sel and Power Ltd, an affiliate of Shyam Metalics and Energy Ltd, for ₹351 crore. The resolution plan offers a 20% recovery for creditors.

Shyam Metalics and Energy Limited (SMEL) completed the acquisition of Mittal Corp Limited for approximately Rs 450 crores via the NCLT route. The acquisition adds 150,000 tpa stainless steel / wire rod & bar capacity in Madhya Pradesh and is part of a planned Rs 7,500 crore investment over five years.

Shyam Metalics and Energy Ltd plans to invest about Rs 7,500 crore over the next 4-5 years to scale up its metal business, including Rs 5,000 crore at its Jamuria plant in West Bengal. The company aims to increase integrated capacity from 8.8 million tonnes to 14.4 million tonnes by 2025.

Shyam Metalics and Energy Ltd has acquired Mittal Corp Ltd through an NCLT-led resolution process for about Rs 450 crore, marking its foray into the stainless steel business. The company plans to invest Rs 7,500 crore over 4-5 years to scale up its metal business.

Shyam Metalics and Energy Ltd has earmarked a capex of ₹2,960 crore over two to three years to expand integrated production capacities of steel and ferro alloys from 5.71 mtpa to 11.54 mtpa, and add 130 MW captive power capacity. The expansion also includes a foray into aluminium foil production.