Mamata Banerjee unveils Shyam Steel's Rs 15-bn Purulia plant

04 Mar 2024 CW Team

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.

Infrastructure Urban

06 Apr 2026

InsideFPV Delivers ₹10 Crore Kamikaze Drone Order Under MoD’s EPR Route

InsideFPV, a Surat-based drone technology manufacturer, has successfully executed a ₹10 crore defence contract to supply indigenous kamikaze drones under the Ministry of Defence’s Emergency Procurement Route (EPR). The company completed the delivery of hundreds of FPV kamikaze drone platforms within a rapid two-month timeframe, highlighting its ability to meet urgent military procurement timelines.The supply orders were fulfilled under the emergency procurement mechanism, which is aimed at fast-tracking acquisitions for immediate operational needs. InsideFPV’s quick execution reflects it..

Vedanta Resources Secures Fitch Upgrade to ‘BB-’, Best Rating Since 2015

Vedanta Resources Limited (VRL), a global player in metals, oil & gas, critical minerals, power and technology, has received a credit rating upgrade from Fitch Ratings, marking its strongest bond rating in over a decade.Fitch has raised Vedanta Resources’ Long-Term Foreign-Currency Issuer Default Rating (IDR) to ‘BB-’ from ‘B+’, while maintaining a Stable Outlook. The agency also upgraded VRL’s senior unsecured rating, along with the ratings of US dollar-denominated bonds issued by Vedanta Resources Finance II Plc and guaranteed by VRL, to ‘BB-’.The upgrade represents Vedan..

NAREDCO NextGen NCR Chapter Launched

The NAREDCO NextGen NCR Chapter was recently launched at Excelerate 2026 in Mumbai, marking a key step towards integrating emerging real estate leaders from the National Capital Region with the national platform. The initiative aims to promote sustainable and responsible urban development through collaboration and knowledge exchange.The event brought together young developers, entrepreneurs, and professionals from across NCR, including Noida, Gurugram, Ghaziabad, Faridabad, Bhiwadi, and Meerut. Discussions focused on urban development, finance, sustainability, innovation, and policy, emphasisi..