Shyam Metalics and Energy unveiled an ambitious venture into a new greenfield expansion initiative, with a particular focus on aluminum flat-rolled products. The group has committed to investing ₹450 crore in the endeavour.
The investment is to expand the group’s capacity. Also, the objective of the investment is to boost manufacturing of aluminum flat rolled products, thereby addressing the demand-supply gap and achieving self-sufficiency in raw materials for the aluminum foil business within the Shyam Metalics group.
As reported by Business Standard, the proposed plant, to be located in Odisha, will have an annual capacity of 60,000 metric tons per year (KTPA) for flat-rolled products. The expansion signifies a significant step towards sustainable manufacturing practices and is poised to support the burgeoning electric vehicle (EV) sector in India.
