Shyam Metalics and Energy Limited has signed a non-binding Memorandum of Understanding (MoU) with the Government of Maharashtra to develop a 9 million tonnes per annum (MTPA) greenfield integrated steel complex in Chandrapur, Vidarbha.
The proposed project involves an estimated investment of ₹50,000 crore and is expected to create around 30,000 jobs, including 10,000 direct and 20,000 indirect employment opportunities.
The integrated complex is planned to include pelletisation, sintering, coke making, blast furnaces, direct reduced iron (DRI), steel melting and continuous casting facilities. The project would significantly expand Shyam Metalics’ steelmaking capacity and strengthen its presence in western India.
Subject to the required approvals, permissions and incentives from the Maharashtra government, construction is targeted to begin in FY2026-27.
The proposed investment is expected to support industrial development in the Vidarbha region while creating opportunities across manufacturing, logistics, services and the wider supply chain.