Shyam Metalics and Energy has established a new Stainless Steel Hot Rolled Coils (HRC) facility at its existing plant in Sambalpur, Odisha as a part of its expansion plan already approved by the Board of Directors at its meeting held on July 27, 2023.
The company is strategically positioning itself for accelerated growth and expansion in the Stainless Steel market. The new facility, boasting a capacity of 0.3 Million Metric Tons Per Annum (MTPA), will specialize in the production of 200 and 400 series stainless steel hot rolled coils by utilizing captive raw materials such as direct-reduced iron (DRI), power and ferroalloys in a reliable and efficient supply chain, while maintaining uncompromising quality standards throughout the manufacturing process.
In a move to bolster its capabilities in the long products sector, the company has also applied for the acquisition of a new 20-acre land parcel at the newly acquired Mittal Corp. which is now merged with its Material wholly owned subsidiary Shyam Sel and Power, dedicated to downstream products from its wire rod division. This expansion initiative includes plans to establish a Stainless Steel (SS) bright bars capacity of 25,000 Metric Tons Per Annum (MTPA) and an SS wires division with a capacity of 18,000 Metric Tons Per Annum (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.
| Company Name | CMP |
|---|---|
| Tata Steel | 214.45 |
| JSW Steel | 1277.70 |
| SAIL | 184.80 |
| Jindal Stainless | 755.10 |
| APL Apollo Tubes | 1948.80 |
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