Key Highlights
- Shyam Metalics signed a non-binding MoU with the Government of Maharashtra on October 1, 2026.
- The proposed project is a 9 MTPA greenfield integrated steel complex in Chandrapur, Maharashtra.
- The estimated investment for the project is ₹50,000 crore.
- The project is expected to create approximately 30,000 jobs.
- Around 10,000 direct and 20,000 indirect employment opportunities are proposed.
- The project is proposed to be initiated in FY 2026-27, subject to required approvals and clearances.
- The proposed complex will include pelletisation, sintering, coke making, blast furnace, DRI, steel melting and continuous casting facilities.
- The Maharashtra government will facilitate applicable approvals, clearances and fiscal incentives.
- The MoU is non-binding and is not a related-party transaction.
Shyam Metalics and Energy Limited has entered into a non-binding Memorandum of Understanding (MoU) with the Government of Maharashtra for the proposed establishment of a 9 million tonnes per annum (MTPA) greenfield integrated steel complex at Chandrapur in the Vidarbha region of Maharashtra.
The MoU was signed on October 1, 2026, with the proposed project involving an estimated investment of ₹50,000 crore.
Shyam Metalics ₹50,000 Crore Steel Project
The proposed integrated steel complex will have a capacity of 9 MTPA. The project is planned to include pelletisation, sintering, coke making, blast furnace operations, direct reduced iron (DRI), steel melting and continuous casting facilities.
The company expects the project to create approximately 30,000 employment opportunities. This includes around 10,000 direct jobs and 20,000 indirect employment opportunities.
Project to Begin in FY 2026-27
Shyam Metalics has proposed initiating the project during FY 2026-27, subject to obtaining the necessary approvals, permissions, registrations, clearances and fiscal incentives from the Government of Maharashtra.
Under the MoU, the Maharashtra government will facilitate the required permissions, registrations, approvals, clearances and applicable fiscal incentives in accordance with state policies, rules and regulations.
MoU Is Non-Binding
The company has clarified that the Memorandum of Understanding is non-binding. The proposed transaction is also not classified as a related-party transaction, with the Government of Maharashtra identified as an unrelated third party.
The proposed Chandrapur facility would cover multiple stages of steel production, including raw material processing, coke making, iron production, steel melting and continuous casting.
The company has disclosed the proposed investment, capacity and employment potential as part of the MoU. The project remains subject to the necessary approvals and subsequent development activities.