Shyam Metalics announces to invest INR 450 crore in setting up an aluminium flat-rolled plant
Shyam Metalics & Energy Limited, an Indian metal producing company, headquartered in Kolkata, West Bengal, India, has reportedly announced its ambition of investing into a greenfield project focused on manufacturing aluminium flat-rolled products.
As per the report, the company is willing to invest INR 450 crore in the project, aiming at expanding the capacity and generating about 1,000 employments, including both direct and indirect jobs.
This investment will increase the production of aluminium flat-rolled products to bridge the demand and supply gap. It will also make the company self-reliant for the raw materials of aluminium foil business.
Shyam Metalics & Energy will set up the plant in Odisha, with an annual capacity of 60,000 tonnes per year. This project will support India's ever-increasing electric vehicle (EV) sector by supplying aluminium flat-rolled products for car parts.
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