Shyam Metalics forays into aluminium flat-rolled products
Shyam Metalics & Energy announced its ambitious foray into a greenfield expansion project focused on aluminium flat-rolled products. The Group intends to invest Rs 450 crore in the project.
The investment is aimed at capacity expansion of the group while also generate the employment of 1000 direct and in-direct jobs. It will also increase manufacturing of Aluminium flat rolled products to bridge the demand & supply gap making Shyam Metalics group self reliant for the raw materials of aluminium foil business. The plant is to be setup in Odisha.
With an annual capacity of 60,000 metric tons per year (KTPA) of flat-rolled products, this expansion marks a significant stride towards sustainable manufacturing and supporting the ever-increasing electric vehicle (EV) sector in India.
Commenting on the expansion, Sheetij Agarwal, promoter and whole-time director of Shyam Metalics, stated, «our foray into Aluminum flat-rolled products and battery foil mills underscores our dedication for innovation, sustainability, and contributing to India's growth story. By leveraging green energy and advanced recycling techniques, we aim to set new benchmark for eco-friendly manufacturing while catering to the burgeoning demand in the electric vehicle segment.»
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