Shyam Metalics and Energy543299New project launch
Non-binding MoU with Govt. of Maharashtra for 9 MTPA greenfield steel complex
Non-binding Memorandum of Understanding (MoU) signed with the Government of Maharashtra on October 1, 2026.
Approximately 30,000 jobsTotal employment potential
Indirect employment potential20,000 indirect employment opportunities
Direct employment potential10,000 direct employment
- Estimated investment
- ₹50,000 Crore (Rupees Fifty Thousand Crores)
- Employment potential
- about 30,000 jobs — 10,000 direct and 20,000 indirect
- Project capacity
- 9 MTPA Greenfield Integrated Steel Complex
- Location
- Chandrapur, Vidarbha region
- Initiation timeline
- FY 2026-27
Shyam Metalics and Energy Ltd has informed the exchanges about a Memorandum of Understanding signed with the Government of Maharashtra.
What was signed and with whom
- A non-binding Memorandum of Understanding (MoU) with the Government of Maharashtra, entered into on October 1, 2026.
- The Government of Maharashtra is represented in the MoU by Dr. P. Anbalagan, IAS, Principal Secretary, Industries, Investment & Services Department.
- The Government of Maharashtra is an unrelated third party, and the transaction does not fall within related party transactions.
- None of the Promoters, Promoter Group, Key Managerial Personnel or Group Companies have any interest in the Government of Maharashtra.
What the MoU covers
- Purpose: to facilitate the establishment of a 9 MTPA Greenfield Integrated Steel Complex at Chandrapur, in the Vidarbha region of Maharashtra.
- Scope: setting up a 9 MTPA greenfield integrated steel plant with pelletisation, sintering, coke making, blast furnace, direct reduced iron (DRI), steel melting and continuous casting.
- The Government of Maharashtra is to facilitate the necessary permissions, registrations, approvals, clearances and fiscal incentives as per applicable state policies, rules and regulations.
Proposed investment and jobs
- Estimated investment: ₹50,000 Crore (Rupees Fifty Thousand Crores).
- Employment potential: approximately 30,000 jobs, being about 10,000 direct employment and 20,000 indirect employment opportunities.
Proposed timeline
- Initiation in FY 2026-27, with obtaining the necessary approvals, permissions, registrations, clearances and fiscal incentives from the Government of Maharashtra.
Points the update records
- The agreement is described as a non-binding Memorandum of Understanding.
- The investment is described as an estimated proposed investment.
- The start of the project is linked to obtaining the necessary approvals, permissions, registrations, clearances and fiscal incentives, and to applicable state policies, rules and regulations.
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More numbers
- Estimated proposed investment₹50,000 Crore
- Proposed investment in wordsRupees Fifty Thousand Crores
- Proposed steel complex capacity9 MTPA
- Total employment potentialApproximately 30,000 jobs
- Direct employment potential10,000 direct employment
- Indirect employment potential20,000 indirect employment opportunities
Source: BSE · 2 Oct 2026
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