Shyam Metalics & Energy has announced a proposed ₹50,000 crore integrated steel complex in Chandrapur, Maharashtra, potentially transforming the region’s industrial future and creating thousands of jobs amid ongoing project approvals.
Shyam Metalics & Energy has signed a memorandum of understanding with the Maharashtra government for a proposed ₹50,000 crore integrated steel complex at Chandrapur, a project the company says could become one of the largest industrial investments in Vidarbha. The plan centres on a greenfield plant with capacity of 9 million tonnes a year, although it remains at an early stage and still depends on approvals, clearances and further execution.
The project would be developed in two phases. The first would add 3.75 million tonnes a year of finished steel capacity, followed by a further 5.25 million tonnes in the second phase. Shyam Metalics says the site is intended to support the full production chain, from pelletisation, sintering and coke making through to iron-making, steel melting, casting, rolling and finishing.
Chandrapur was chosen, the company said, because of its proximity to iron ore reserves in Gadchiroli and coal deposits in the Chandrapur mining belt, as well as access to limestone and dolomite. Rail, road and power links were also cited as important advantages. The finished products are expected to serve infrastructure, construction, automotive, railways, renewable energy, oil and gas, and heavy engineering customers.
The company estimates the complex could create about 10,000 direct jobs and 20,000 indirect jobs, with a wider effect on local contractors, small manufacturers, engineering workshops, transport operators and logistics firms. Maharashtra industry secretary P Anbalagan said the project could help drive the socio-economic transformation of Vidarbha, while Shyam Metalics chairman and managing director Brij Bhushan Agarwal said the company would begin pursuing the necessary permissions and registrations in FY27.
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