Shyam Metalics acquires Mittal Corp
Steel

Shyam Metalics acquires Mittal Corp

Shyam Metalics and Energy Ltd, an integrated metal producer with headquarters in Kolkata, has announced the acquisition of Mittal Corp Ltd, a stainless steel, wire rod, and bar mill company with headquarters in Indore.

With the acquisition, Shyam Metalics' capacity for stainless steel, wire rod, and bar milling increases to 150,000 tonnes annually. According to a statement from the corporation, it will invest 75,000 million over the course of five years to further diversify its metals industries. Capex is probably going to reach $100,000,000,000 within the next five years to fund its inorganic and organic growth objectives.

By adding value-added long steel capacity of 2 mtpa from the current capacity of 1.47 mtpa, the company hopes to increase its annual steel capacity from 8.85 million tonnes to 14.45 million tonnes.

Shyam Metalics has already committed $24 billion of its $39.5 billion two-year capital investment plan.

Additionally, the new injection will enable it to increase its global reach and place large bets on export markets. It operates in more than 40 nations, and those markets account for 16% of its income.

Since the beginning of our operations in 2005, we have a positive PAT (profit after tax). According to Brij Bhushan Agarwal, vice chairman and MD of Shyam Metalics and Energy, "the present investments across portfolios will take us to the next level of diversification, business excellence, and increase domestic and worldwide footprint. The company will increase its capacities for pellets from 3.6 million tonnes (mt) to 6.0 mt, sponge from 2.10 mt to 2.90 mt, billet from 1.47 mt to 2 mt, and finished steel from 1.47 mt to 2 mt during the course of the next six months.

Additionally, the corporation wants to enhance the capacity of its captive power plant from 267 megawatts (mw) to 357 mw.

Shyam Metalics and Energy Ltd, an integrated metal producer with headquarters in Kolkata, has announced the acquisition of Mittal Corp Ltd, a stainless steel, wire rod, and bar mill company with headquarters in Indore. With the acquisition, Shyam Metalics' capacity for stainless steel, wire rod, and bar milling increases to 150,000 tonnes annually. According to a statement from the corporation, it will invest 75,000 million over the course of five years to further diversify its metals industries. Capex is probably going to reach $100,000,000,000 within the next five years to fund its inorganic and organic growth objectives. By adding value-added long steel capacity of 2 mtpa from the current capacity of 1.47 mtpa, the company hopes to increase its annual steel capacity from 8.85 million tonnes to 14.45 million tonnes. Shyam Metalics has already committed $24 billion of its $39.5 billion two-year capital investment plan. Additionally, the new injection will enable it to increase its global reach and place large bets on export markets. It operates in more than 40 nations, and those markets account for 16% of its income. Since the beginning of our operations in 2005, we have a positive PAT (profit after tax). According to Brij Bhushan Agarwal, vice chairman and MD of Shyam Metalics and Energy, the present investments across portfolios will take us to the next level of diversification, business excellence, and increase domestic and worldwide footprint. The company will increase its capacities for pellets from 3.6 million tonnes (mt) to 6.0 mt, sponge from 2.10 mt to 2.90 mt, billet from 1.47 mt to 2 mt, and finished steel from 1.47 mt to 2 mt during the course of the next six months. Additionally, the corporation wants to enhance the capacity of its captive power plant from 267 megawatts (mw) to 357 mw.

Next Story
Infrastructure Energy

Invenia Wins Rs 3.6 Billion Contract for PowerGrid Data Centre

Invenia-STL Networks Limited, a leading digital infrastructure and IT services company, announced it has secured a major contract worth over Rs 3.6 billion from PowerGrid Teleservices Limited (PowerTel), a wholly owned subsidiary of the Power Grid Corporation of India Limited (PGCIL), the nation’s largest electric power transmission utility.Under the agreement, Invenia will design, build, commission and maintain the complete IT and cloud infrastructure for a greenfield Tier III data centre at PowerGrid’s Manesar facility. In addition, Invenia will establish a Disaster Recovery Data Centre ..

Next Story
Infrastructure Energy

Vikram Solar Secures 200 MW Order to Expand India’s Solar Capacity

Vikram Solar, one of India’s leading solar PV module manufacturers, has announced a major order of 200 MW high-efficiency solar modules from AB Energia, a specialist in end-to-end EPC solutions for commercial and industrial (C&I) solar projects. The modules, rated at 590 Wp and above, will be deployed across Maharashtra, Madhya Pradesh and Gujarat — three solar-progressive states accelerating their adoption of clean energy.Under this order, Vikram Solar will supply its advanced M10R N-Type TOPCon modules, designed for superior performance, reliability and higher energy yield. Deliverie..

Next Story
Real Estate

Shriram Properties Backs Neerathon 2025 to Promote Water Conservation

Shriram Properties Limited (SPL), one of India’s leading residential developers in the mid-market and mid-premium segments, reaffirmed its commitment to sustainability and community welfare by supporting IPA Neerathon 2025 in Chennai as the Title Sponsor. The event, which attracted thousands of participants across 10K, 5K and 3K categories at Island Grounds, was more than a race — it was a movement for water conservation and environmental stewardship.For SPL, this partnership aligns with its long-standing efforts to support initiatives beyond real estate, promoting sustainable communities ..

Advertisement

Subscribe to Our Newsletter

Get daily newsletters around different themes from Construction world.

STAY CONNECTED

Advertisement

Advertisement

Advertisement

Talk to us?