Maharashtra clears 937 hectares for Gadchiroli steel expansion Steel stock surges 29% in just two days Steel output rises 14% to 9.25 MT Infrastructure boom fuels India’s steel consumption
West Bengal Chief Minister Mamata Banerjee on Tuesday virtually inaugurated Shyam Steel's ₹1,500-crore integrated plant in Purulia district.
This is the fourth facility of the company in the state with three others located in Durgapur and Bankura. Spread over an area of 600 acres, the new steel plant at Raghunathpur will have a capacity of 1.19 million tonne, Shyam Steel director Lalit Beriwala said.
The expansion will result in a consolidated capacity of 4.03 million tonne per annum (MTPA), including finished steel of 1.36 MTPA, he said.
With a current turnover of ₹6,000 crore, Shyam Steel aims at strengthening its position in the steel industry, the official said.
The group was looking for ₹9,000-10,000 crore turnover over the next 2-3 years on the back of an infrastructure push by the government.
The new steel facility will enable the company to produce high-quality steel products, catering to the growing demand of domestic and international markets, he added.
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