Shyam Metalics expands into aluminium flat-rolled products

27 Mar 2024 CW Team

Shyam Metalics & Energy declared its ambitious venture into a greenfield expansion project concentrating on aluminium flat-rolled products. The group revealed its intention to invest Rs 4.5 billion in the project.

It was stated that the investment was targeted towards expanding the group's capacity, while also aiming to generate employment for approximately 1000 individuals, both directly and indirectly. Additionally, it was mentioned that the investment would lead to increased manufacturing of aluminium flat rolled products, with the purpose of bridging the gap between demand and supply. This move would render Shyam Metalics group self-reliant for the raw materials necessary for its aluminium foil business. It was further noted that the plant was to be established in Odisha.

The speaker conveyed that Shyam Metalics & Energy had announced its ambitious venture into a greenfield expansion project focusing on aluminium flat-rolled products. The group had indicated its intention to invest Rs 4.5 billion in the project.

It was communicated that the investment was targeted at expanding the group's capacity, with the aim of generating employment for approximately 1000 individuals, both directly and indirectly. Furthermore, it was stated that the investment would result in increased manufacturing of aluminium flat rolled products, with the goal of bridging the gap between demand and supply. This move would make Shyam Metalics group self-reliant for the raw materials necessary for its aluminium foil business. It was also conveyed that the plant was to be established in Odisha.

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