Shyam Metalics and Energy planning to invest Rs 850 crore in FY22

28 Sep 2021 Evaluate

Shyam Metalics and Energy is planning to invest Rs 850 crore in the current fiscal (FY22) as part of its Rs 2,960-crore capital expenditure plan to double its steel-making capacity and foray into the aluminium foil sector.

The company is foraying into manufacturing of aluminium foil for the packaging industry with Rs 300 crore capital expenditure (capex). The company will increase its integrated production capacity from the existing 5.71 mtpa to 11.54 mtpa. This includes enhancement of value-added long steel capacity to 2 mtpa from 0.89 mtpa.

Shyam Metalics and Energy is a leading integrated metal producing company based in India with a focus on long steel products and ferro alloys.

Shyam Metalics&Ener Share Price

590.30 -14.65 (-2.42%)
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