Archive · 5 Oct 2026
Shyam Metalics Plans ₹50,000 Crore Steel Complex in Chandrapur
Shyam Metalics and Energy plans to build a large steel-making complex in Chandrapur.
The company has signed an agreement with the Maharashtra government about the project.
It expects to invest ₹50,000 crore.
The complex is planned to make up to 9 million tonnes of finished steel each year.
It would be built in two phases.
The company says it could create about 10,000 direct jobs and 20,000 indirect jobs.
The project would carry out several steps of steel production at one site.
The company says it will start seeking the required permissions in FY 2026-27.
Shyam Metalics and Energy signed an MoU with the Maharashtra government for a 9 MTPA integrated steel complex in Chandrapur.
The company estimates the project will cost ₹50,000 crore.
The complex is planned in two phases, with capacities of 3.75 MTPA and 5.25 MTPA.
The company expects the project to create about 10,000 direct jobs and 20,000 indirect employment opportunities.
Chairman and managing director Brij Bhushan Agarwal said the company would begin seeking necessary permissions in FY 2026-27.
- Who
- Shyam Metalics and Energy and the Maharashtra government.
- What
- An MoU for a planned 9 MTPA integrated steel complex, with an estimated investment of ₹50,000 crore.
- When
- The announcement was reported as Friday, October 5, 2026; the company said it would begin seeking permissions in FY 2026-27.
- Where
- Chandrapur, Maharashtra.
- Why
- The project is intended to expand steel-making and manufacturing, generate employment, and support a downstream industrial ecosystem in Vidarbha.
- Estimated investment
- ₹50,000 crore
- Planned capacity
- 9 million tonnes per year
- Phase I
- 3.75 MTPA finished steel capacity
- Phase II
- 5.25 MTPA finished steel capacity
- Expected direct jobs
- Approximately 10,000
- Expected indirect employment
- Approximately 20,000 opportunities
- Permissions
- The company said it would commence obtaining necessary permissions in FY 2026-27.