Shyam Metalics Accelerates Expansion Vision; With ₹8,700 crores already deployed, the steel giant proposes to add fresh capital of ₹2700 Crore to its existing ₹16,060 crore pipeline, executing the balance over the next 3 to 4 years.
Shyam Metalics and Energy Ltd is planning to invest around Rs 700 crore to set up an aluminium flat rolled products (FRP) and foil manufacturing facility in Sambalpur, Odisha, as it expands into value-added downstream segments, as per media reports.
The project, being developed through its step-down subsidiary Smel Steel Structural Pvt Ltd, is in an advanced stage and is expected to be commissioned by June 2026, the company said.
The facility will have an installed capacity of 60,000 tonnes per annum (TPA) of aluminium flat rolled products and 18,000 TPA of aluminium foils, marking the company’s entry into high-margin aluminium downstream products, according to a company statement.
Commenting on the developments, Mr. Brij Bhushan Agarwal, Chairman and Managing Director, Shyam Metalics and Energy Limited, said, “This marks the next phase of Shyam Metalics’ evolution from scale-led growth to value-led growth. Our objective is not simply to add capacity, but to build stronger positions in sophisticated, higher-margin product categories that can drive sustainable returns over the long term.
The investments in specialty steel and advanced stainless downstream products will help us move further up the value chain, support import substitution, and strengthen India’s manufacturing capabilities. Importantly, these expansions are being funded entirely through internal accruals, reflecting both our balance sheet strength and disciplined approach to growth. We are confident that the integration of these stainless steel offerings will catalyze manifold growth in both our topline and profit margins.
With these projects, we are building a stronger, more resilient and globally competitive metals platform, one that is aligned with India’s industrial ambitions while delivering long-term value for customers, communities and shareholders.”