Shyam Metalics Share Price in Focus; Signs ₹50,000 Crore MoU with Maharashtra Government for Steel Project

Shyam Metalics and Energy has signed an MoU with the Maharashtra government for a new integrated steel complex in Chandrapur, as per exchange filing. The proposed project will have 9 MTPA of finished steel capacity and an estimated investment of ₹50,000 crore.  

The project will come up in two phases. The first phase will have 3.75 MTPA capacity, followed by another 5.25 MTPA in the second phase.  

Project to Cover the Steel-Making Process 

The planned facility will handle several stages of production at the site, starting with pelletisation, sintering, and coke making. This will be followed by ironmaking, steel melting, continuous casting and rolling, and finishing.  

Chandrapur was selected for its proximity to iron ore reserves in Gadchiroli and coal deposits in the Chandrapur mining belt. Limestone and dolomite are also available nearby, while the location has rail, road, and power connectivity.  

30,000 Direct and Indirect Jobs Expected 

The project is expected to create around 10,000 direct jobs and another 20,000 indirect employment opportunities.  

The company said local MSMEs, fabrication units, engineering workshops and transport and logistics providers could also be part of the wider industrial activity around the plant.  

The complex will also include waste heat recovery, coke dry quenching, and closed-loop water treatment systems.  

Government and Shyam Metalics Comment 

Maharashtra government Principal Secretary P. Anbalagan said the project would support industrialisation in Vidarbha and create employment opportunities for the region’s youth.  

He also said the state government would facilitate its development and commissioning.  

Shyam Metalics Chairman and Managing Director Brij Bhushan Agarwal said Chandrapur’s mineral availability and connectivity make it suitable for the proposed steel manufacturing hub.  

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Shyam Metalics and Energy Share Price Performance  

As of 05 October 2026, at 12:42 PM, Shyam Metalics and Energy Limited share price is trading at ₹1,029.90 per share, reflecting a decline of 1.71% from the previous trading session. 

Conclusion 

The MoU sets out Shyam Metalics’ proposed Chandrapur project, with the 9 MTPA complex to be built through the two phases announced by the company.  

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