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Shyam Metalics Plans Rs 450 Crore Investment To Set Up Aluminium Project In Odisha

Shyam Metalics plans to invest Rs 450 crore in setting up an aluminium project in Odisha.

PTI

A roll of hot steel passes along a conveyor belt at Shyam Metalics and Energy Ltd. (Source: Company website).

Shyam Metalics on Wednesday announced plans invest Rs 450 crore to set up a greenfield aluminium project in Odisha.

The company plans to produce aluminium flat rolled products from the proposed project, which will have an annual capacity of 60,000 metric tonnes, Shyam Metalics said in a statement.

"Shyam Metalics shall foray into the greenfield expansion of aluminium flat rolled products. The investment estimated is Rs 450 crore for the expansion," the statement said.

The project is expected to generate 1,000 direct and in-direct employment opportunities, the company said.

Kolkata-based Shyam Metalics is a metal-producing group with focus on steel products, ferro alloys, stainless steel, and aluminium.

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