en.Wedoany.com Reported - Shyam Steel Group has announced a large-scale expansion plan, investing approximately INR 150 billion, with a primary focus on industrial development in West Bengal. This investment plan is expected to create nearly 20,000 direct and indirect jobs locally and boost the state's manufacturing base.

The core of this expansion plan is the construction of a 2-million-tonne-per-annum integrated steel plant in the Mejia area of Bankura district. This project is expected to involve an investment of INR 100 billion and create approximately 15,000 jobs. Once the new facility is operational, Shyam Steel Group's total steel production capacity will reach 3.5 million tonnes per annum, making it one of the leading steel manufacturers in eastern India. The steel plant project, part of the INR 150 billion large-scale expansion plan, is located in the Mejia area, which has industrial development potential, aiming to enhance regional manufacturing capabilities.

In addition to its core steel business, Shyam Steel Group also plans to invest an additional approximately INR 50 billion in sectors such as defense manufacturing, engineering, chemicals, industrial townships, and real estate. These diversified investments, as part of the INR 150 billion large-scale expansion plan, are expected to attract ancillary industries and create thousands of additional jobs. The Chief Minister of West Bengal is expected to attend the groundbreaking ceremony of the plan, reflecting the state's proactive stance in attracting large-scale industrial projects.

Shyam Steel Group's INR 150 billion large-scale expansion plan reflects the long-term confidence of domestic Indian enterprises in the downstream steel and related industries. The implementation of this plan will help enhance West Bengal's industrial output and drive regional economic development through industrial chain extension.