Shyam Metalics and Energy Limited Announces ₹10,000-Crore Bengal Investment, More Spending Likely Under New Policies.

Shyam Metalics and Energy Limited plans to invest around ₹10,000 crore in new projects in West Bengal over the next three years and is considering an additional investment of a similar amount depending on the new industrial and land policies expected from the newly-elected BJP government in the State.

The Kolkata-headquartered steelmaker is already investing nearly ₹6,000 crore in Jamuria in Paschim Bardhaman district to set up facilities for manufacturing hot rolled coils, speciality steels and carbon steel products.

The company is also expanding operations in Kharagpur following the acquisition of Ramsarup Industries through the National Company Law Tribunal (NCLT) process. It plans to establish a railway coach manufacturing facility and a speciality steel plant at the site.

“We acquired a plant, Ramsarup Industries, from NCLT. We are planning to set up a railway coaches manufacturing facility and a speciality steel manufacturing plant there in Kharagpur. We will be investing close to ₹4,000 crore. This will be invested in the next two to three years,” Brij Bhushan Agarwal told newspersons recently.