Shyam Steel Industries has entered into a memorandum of understanding (MoU) with the Government of Maharashtra to set up a large-scale steel manufacturing facility in the Chandrapur district, involving an investment exceeding Rs 10,000 crore.
The agreement was formalized in the presence of Maharashtra Chief Minister Devendra Fadnavis, Principal Secretary (Industries, Investment and Services) P Anbalagan, along with Directors of Shyam Steel, Purushottam Beriwala and Sidhartha Beriwala.
This proposed facility is anticipated to significantly broaden the company’s production capabilities beyond its current operations in eastern India, where it already operates plants in West Bengal, Jharkhand, and other areas.
The forthcoming project is expected to create over 8,000 job opportunities. Additionally, the Chandrapur plant is projected to bolster the state’s steel ecosystem, improve supply chains through downstream industrial activities, and attract increased investment into the manufacturing sector in the years ahead.
“This strategic investment emphasizes Maharashtra’s status as a preferred hub for industrial development and highlights Shyam Steel’s dedication to expanding its presence while contributing to the growth of India’s manufacturing sector,” the company remarked.
