Mamata Banerjee, Chief Minister, West Bengal, virtually inaugurated Shyam Steel's integrated plant in Purulia district, which is valued at Rs 15 billion. The company already has three facilities in Durgapur and Bankura. Lalit Beriwala, the director of Shyam Steel, informed that the new steel plant at Raghunathpur, spread across 600 acres, would have a capacity of 1.19 million tonnes.

According to Beriwala, the expansion would lead to a consolidated capacity of 4.03 million tonnes per annum (MTPA), including finished steel of 1.36 MTPA. Shyam Steel, currently with a turnover of Rs 6,000 crore, aims to enhance its position in the steel industry. The group anticipates achieving a turnover of Rs 9,000-10,000 crore in the next 2-3 years, driven by government-backed infrastructure initiatives.

The newly inaugurated steel facility is expected to empower the company to manufacture high-quality steel products to meet the rising demands in both domestic and international markets, as stated by the official.