Lloyds Metals: ₹40,000 CR for Gadchiroli Steel

Lloyds Metals and Steel Ltd is planning to invest more than ₹40,000 crore over the next five years to establish an integrated steel plant and associated facilities in Maharashtra’s Gadchiroli district.

Managing Director B Prabhakaran revealed that ₹5,000 crore has already been invested. The expansion includes a ₹15,000 crore iron ore beneficiation plant with a capacity of 45 million tonnes per annum, and a ₹22,000 crore steel plant with a production capacity of 4.5 million tonnes per annum. The company expects the initiative to create approximately 30,000 jobs in the region.

The project will be primarily funded through internal accruals, although Lloyds may explore additional fundraising if needed. Last year, the company raised over ₹4,000 crore via a qualified institutional placement (QIP).

Earlier this week, Maharashtra Deputy Chief Minister and Gadchiroli Guardian Minister Devendra Fadnavis inaugurated a 90-km pipeline and a pellet plant, marking a significant milestone in the region’s industrial development.

News by Rahul Yelligetti.