Shyam Metalics and Energy has proposed a major expansion of India’s steel manufacturing capacity with a planned investment of ₹50,000 crore (about $5.2 billion) in a new integrated steel complex in Chandrapur, Maharashtra. The company has signed a non-binding MoU with the Maharashtra government for the proposed 9 MTPA greenfield project in the Vidarbha region, expected to create around 30,000 jobs, approximately 10,000 direct and 20,000 indirect.
The facility is planned to be developed in two phases, with Phase I adding 3.75 MTPA and Phase II adding 5.25 MTPA. The approval process, covering permissions, clearances and fiscal incentives from the state government, is expected to begin during FY2026–27. The integrated complex will cover pelletisation, sintering, coke making, blast furnace operations, Direct Reduced Iron facilities, steel melting and continuous casting.
The project comes as India’s finished steel consumption rose 7 per cent to 164 million tonnes in FY2025–26, with the country’s crude steelmaking capacity at around 220–222 MTPA against a National Steel Policy target of 300 MTPA by 2030–31. The proposed 9 MTPA complex would represent roughly 4 per cent of India’s current crude steelmaking capacity.
Chandrapur’s location in Vidarbha offers access to nearby iron ore, coal, limestone and dolomite resources, along with rail, road and power connectivity. The project is expected to generate opportunities across logistics, engineering, construction, MSMEs and downstream industries including automobiles, railways and renewable energy, while Shyam Metalics reported FY26 revenue of ₹18,552 crore, up 22 per cent year-on-year.
