Investment worth upto Rs 750 crore planned by Shyam Metalics
Integrated steel maker Shyam Metalics has plans to invest Rs 650-750 crore in its stainless steel business over the next few years. The firm would establish a state-of-the-art stainless steel hot rolled coils (HRC) facility at its plant in Sambalpur, Odisha.
As per the firm this facility, with a capacity of 0.3 million tonnes per year, will specialize in producing high-quality 200 and 400 series stainless steel hot rolled coils. Further, the firm under its wholly-owned subsidiary Shyam Sel and Power Limited, has plans to acquire a 20-acre land parcel at the newly merged Mittal Corp.
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