Shyam Metalics & Energy has signed a Memorandum of Understanding (MoU) with the Government of Maharashtra to establish a 9 million tonnes capacity integrated steel complex in Chandrapur.

The project will be set up at an estimated investment of Rs 50,000 crore and will mark one of Vidarbha region's largest single industrial investments. It also aligns with the state's vision to accelerate manufacturing growth and expand India's domestic steel-making capabilities.

The greenfield integrated steel complex will be developed in two phases:

• Phase-I (3.75 MTPA Finished Steel Capacity)
• Phase-II (5.25 MTPA Additional Finished Steel Capacity)