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Lloyds Metals and Energy Ltd (LMEL) has announced a massive ₹27,000 crore investment to develop an integrated green steel plant and mining project in Gadchiroli, Maharashtra, aiming to transform the region from a “Red Corridor” into a “Growth Corridor.”
The project, which includes a 5 million tonnes per annum (MTPA) steel plant and captive iron ore mine, is expected to generate over 10,000 direct and indirect jobs. It will also include infrastructure for renewable energy integration, making it one of India’s largest green steel initiatives.
Chairman Rajesh Gupta said the investment aligns with the government’s Make in India and Green Growth visions, leveraging sustainable production technologies to reduce carbon emissions. The project aims to create a self-sustaining industrial ecosystem in a region historically affected by underdevelopment and insurgency.
The Maharashtra government has extended full support to the initiative, viewing it as a model for inclusive regional development through industrialisation.
Experts say the project could redefine Gadchiroli’s economic landscape, attracting allied industries and positioning it as a new steel hub for Central India.
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