Shyam Steel Industries to add 300KT Rebar Capacity
Business Line reported that Kolkata-based rebar manufacturer Shyam Steel Industries Ltd, which has capacity to produce close to 600,000 tonne of TMT bars annually is looking to ramp up production capacity to 900,000 tonnes through brownfield expansion at an estimated investment of INR 600 crore over the next 18-24 months. The investment of INR 600 crore would be utilised for both backward and forward integration. While INR 400 crore would be invested for backward integration for ramping up sponge iron production and captive power, the remaining INR 200 crore would go towards increasing TMT production. Part of it would be funded through internal accruals and part of it through debt.
Shyam Steel Industries is also looking to add another six lakh tonne capacity through inorganic route by bidding for assets under IBC through NCLT. The assets for which the company has placed bids are primarily in Odisha and Jharkhand.