The Business Bytes
TBB BUREAU
NEW DELHI, MARCH 21, 2024
Shyam Metalics revealed its ambitious plans on Wednesday, intending to invest Rs 450 crore to inaugurate a state-of-the-art greenfield aluminium project in Odisha.
The proposed project aims to manufacture aluminium flat rolled products with an impressive annual capacity of 60,000 metric tonnes, as outlined in a statement released by Shyam Metalics.
“Shyam Metalics shall foray into the greenfield expansion of aluminium flat rolled products. The investment estimated is Rs 450 crore for the expansion,” the statement said.
Anticipated to create employment opportunities, the project is forecasted to generate around 1,000 direct and indirect jobs, according to the company’s declaration.
Kolkata-based Shyam Metalics stands as a prominent metal-producing conglomerate, specializing in an array of products including steel, ferro alloys, stainless steel, and now, aluminium.
