The agreement was formally executed in Mumbai by Dr. P. Anbalagan, IAS, Principal Secretary (Industries, Investment & Services), representing the Government of Maharashtra, and Brij Bhushan Agarwal, Chairman & Managing Director of Shyam Metalics and Energy Ltd, marking a shared commitment toward expanding the state’s industrial footprint and creating long-term regional value.
The project will be set up at an estimated investment of 750,000 crore and will mark one of Vidarbha region’s largest single industrial investments. It also aligns with the state’s vision to accelerate manufacturing growth and expand India’s domestic steel-making capabilities.
Chandrapur district, the chosen site for the proposed project sits close to iron ore reserves in Gadchiroli, coal deposits across the Chandrapur mining belt, and has proximity to essential minerals such as limestone and dolomite, all supported by well-connected rail, road, and power infrastructure.
The Greenfield Integrated Steel Complex will be developed in two phases:
- Phase-I (3.75 MTPA Finished Steel Capacity)
- Phase-II (5.25 MTPA Additional Finished Steel Capacity)
As a fully integrated greenfield complex built from the ground up, the facility will manage the entire steel production journey under one roof. The plant will undertake onsite raw material conversion through pelletisation, sintering, and coke making, followed by ironmaking via blast furnace and direct reduced iron (DRI) processes, steel melting, continuous casting, and downstream rolling and finishing.
This end-to-end operation is designed to manufacture high-quality, value-added steel for key sectors including infrastructure, construction, automotive, railways, renewable energy, oil and gas, and heavy engineering. By supplying these core industries with domestically manufactured steel, the facility will directly support India’s self-reliance goals and reduce reliance on imported steel.
In near future the complex will become a major driver of regional economic prosperity generating approximately 10,000 direct jobs and 20,000 indirect employment opportunities. This substantial workforce demand will spur comprehensive skill development initiatives across Vidarbha, opening career paths for local youth while catalyzing an extensive downstream industrial ecosystem. Micro, small, and medium enterprises (MSMEs), fabrication units, engineering workshops, and transport and logistics providers across the region stand to gain substantial business momentum from the plant’s operational requirements.
At the same time, the development incorporates advanced environmental safeguards to ensure long-term, energy-efficient operations. The plant will deploy clean technologies including waste heat recovery systems to generate power, coke dry quenching to conserve water and trap energy, and closed-loop water treatment systems for complete recycling and reuse. Coupled with state-of-the-art pollution-control infrastructure and high-efficiency machinery, Shyam Metalics aims to set a strong benchmark for sustainable steel manufacturing in Maharashtra.
