Shyam Metalics acquires Mittal Corp

22 Dec 2022 CW Team

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.

Infrastructure Transport

06 Feb 2026

Lucknow Metro East-West Corridor Consultancy Contract Awarded

The Uttar Pradesh Metro Rail Corporation has awarded the first construction-related consultancy contract for the Lucknow Metro East West Corridor to a joint venture of AYESA Ingenieria Arquitectura SAU and AYESA India Pvt Ltd. The firm was declared the lowest bidder for the Detailed Design Consultant contract for Lucknow Metro Line-2 under Phase 1B and the contract was recommended following the financial bid. The contract is valued at Rs 159.0 million (mn), covering design services for the corridor. Lucknow Metro Line-2 envisages the construction of an 11.165 kilometre corridor connecting Cha..

Div Com Kashmir Urges Fast Tracking Of Jhelum Water Transport Project

The Divisional Commissioner of Kashmir has called for the fast-tracking of the Jhelum water transport project, urging district administrations and relevant agencies to accelerate planning and clearances. In a meeting convened at the divisional headquarters, the commissioner instructed officials from irrigation, public health engineering and municipal departments to prioritise the project and coordinate survey and design work. The directive emphasised removal of administrative bottlenecks and close monitoring to ensure timely mobilisation of resources and contractors. Officials were told to in..

Interarch Reports Strong Q3 And Nine Month Results

Interarch Building Solutions Limited reported unaudited results for the third quarter and nine months ended 31 December 2025, recording strong revenue growth driven by execution and a robust order book. Net revenue for the third quarter rose by 43.7 per cent to Rs 5.225 billion (bn), compared with Rs 3.636 bn a year earlier, reflecting heightened demand in pre-engineered building projects. The company’s total order book as at 31 January 2026 stood at Rs 16.85 bn, supporting near-term visibility. EBITDA excluding other income for the quarter increased by 43.2 per cent to Rs 503 million (mn),..