Shyam Metalics Goes All In On Bengal With ₹10,000 Cr Plan

Shyam Metalics and Energy Ltd plans to invest around ₹10,000 crore in West Bengal over the next three years, with the possibility of a similar additional investment depending on the industrial and land policies introduced by the newly elected BJP government in the State.

The Kolkata-based steelmaker is already investing nearly ₹6,000 crore in Jamuria, located in Paschim Bardhaman district, to develop facilities for hot rolled coils, speciality steel and carbon steel products.

The company is also expanding its presence in Kharagpur after acquiring Ramsarup Industries through the National Company Law Tribunal (NCLT) process. As part of the expansion, it plans to set up a railway coach manufacturing unit along with a speciality steel plant at the site.

“We acquired a plant, Ramsarup Industries, from NCLT. We are planning to set up a railway coaches manufacturing facility and a speciality steel manufacturing plant there in Kharagpur. We will be investing close to ₹4,000 crore over the next two to three years,” Brij Bhushan Agarwal said recently.

News by Rahul Yelligetti.