India's Shyam Metalics expands new SS HRC facility in Odisha

Source: Steelmint Apr 12, 2024 08:30

Shyam Metalics and Energy Ltd, a leading and rapidly expanding metals manufacturing firm in India, is pleased to announce the inauguration of a new Stainless Steel Hot Rolled Coils (HRC) facility at its existing plant in Sambalpur, Odisha. This move aligns with the company's approved expansion plan set forth by the Board of Directors in July 2023. With a strategic focus on growth and market positioning, the company aims to bolster its presence in the Stainless Steel sector.

The newly established facility, with a capacity of 0.3 million metric tonnes per annum (MTPA), will specialize in producing 200 and 400 series stainless steel hot rolled coils. It will leverage captive raw materials such as direct-reduced iron (DRI), power, and ferroalloys to ensure a reliable and efficient supply