Shyam Group plans Rs. 99,000-mn Capex projects WB

Kolkata: The Shyam Group of Industries, which has interests in steel, power and cement, plans to set up an integrated steel and power plant at Jamuria near Asansol in West Bengal for around Rs 9,900 crore. Group company Shyam Sel Ltd today signed a memorandum of agreement in this regard with the West Bengal Industrial Development Corp Ltd.

Addressing newspersons shortly after the signing ceremony, Mr B. Bhushan Agarwal, Vice Chairman-cum-Managing Director of Shyam Group, said the integrated steel plant would have a finished steel-making capacity of 1.1 million tonnes (mt) per annum and a captive power plant of 1,000 MW capacity. About 1,500 acres would be required to set up the project. While a portion of the land required would comprise barren land that would be acquired from the State Government, the balance would be obtained on lease from WBIDC.