West Bengal Chief Minister Mamata Banerjee inaugurated Shyam Steel's Rs 1,500-crore integrated plant in Purulia district, marking the company's fourth facility in the state. The plant, spread over 600 acres, will have a capacity of 1.19 million tonne and a consolidated capacity of 4.03 million tonne per annum.
West Bengal Chief Minister Mamata Banerjee on Tuesday virtually inaugurated Shyam Steel 's Rs 1,500-crore integrated plant in Purulia district. This is the fourth facility of the company in the state with three others located in Durgapur and Bankura. Spread over an area of 600 acres, the new steel plant at Raghunathpur will have a capacity of 1.19 million tonne, Shyam Steel director Lalit Beriwala said. The expansion will result in a consolidated capacity of 4.03 million tonne per annum (MTPA), including finished steel of 1.36 MTPA, he said. With a current turnover of Rs 6,000 crore, Shyam Steel aims at strengthening its position in the steel industry, the official said. The group was looking for Rs 9,000-10,000 crore turnover over the next 2-3 years on the back of an infrastructure push by the government. The new steel facility will enable the company to produce high-quality steel products, catering to the growing demand of domestic and international markets, he added. (You can now subscribe to our Economic Times WhatsApp channel)