Shyam Metalics & Energy, a leading metals and minerals producer, plans to set up an integrated steel complex of 9 million tonne per annum at Chandrapur in Maharashtra with an investment of ₹50,000 crore. The company has signed a Memorandum of Understanding with the Maharashtra government to make one of the single largest investment in the Vidarbha region.
The Chandrapur district sits close to iron ore reserves in Gadchiroli, and coal deposits across the Chandrapur mining belt has proximity to essential minerals such as limestone and dolomite. All the required mineral blocks are well-connected by rail, road and power infrastructure.
In the first phase, the company will set up 3.75 mtpa finished steel capacity followed by 5.25 mtpa in the second phase. The plant will have onsite raw material conversion through pelletisation, sintering and coke making, followed by ironmaking via blast furnace and direct reduced iron processes, steel melting, continuous casting and downstream rolling and finishing.
The end-to-end operation is designed to manufacture high-quality, value-added steel for key sectors including infrastructure, construction, automotive, railways, renewable energy, oil and gas, and heavy engineering.
The complex will generate about 10,000 direct jobs and 20,000 indirect employment opportunities. This substantial workforce demand will spur comprehensive skill development initiatives across Vidarbha, opening career paths for local youth while catalysing an extensive downstream industrial ecosystem.
Micro, small, and medium enterprises, fabrication units, engineering workshops, and transport and logistics providers across the region stand to gain substantial business momentum from the plant’s operational requirements. The plant will deploy clean technologies including waste heat recovery systems to generate power, coke dry quenching to conserve water and trap energy, and closed-loop water treatment systems for complete recycling and reuse.
P Anbalagan, IAS, Principal Secretary (Industries, Investment & Services), Maharashtra government, said the investment by Shyam Metalics will be a catalyst for the socio-economic transformation of Vidarbha. By anchoring a mega-scale steel complex in Chandrapur, the project will accelerate regional industrialisation, unlock extensive forward and backward linkages for local MSMEs, and generate large-scale employment for the region’s youth, he said.
Brij Bhushan Agarwal, Chairman and Managing Director of Shyam Metalics and Energy, said Chandrapur’s unique mineral wealth and strategic connectivity provide the ideal foundation for building a modern integrated steel manufacturing hub.
The company will commence obtaining the necessary permissions, registrations, approvals and clearances in FY27 for the execution of the project and look forward to working closely with the Maharashtra government to spur job creation, strengthen domestic supply chains, and drive lasting industrial prosperity across Vidarbha, he added.
Published on October 5, 2026
