Davis Index: Market Intelligence for the Global Metals and Recycled Materials Markets

Indian steelmaker Shyam Steel (SSL) plans to invest $80mn to expand its TMT rebar output to 900,000mt from 600,000mt per annum in the next 18-24 months.


Lalit Beriwal, Director, SSL noted in media reports on Monday that of the total investment the steelmaker will utilize around $27mn to expand its TMT bar mill’s capacity and $53mn on backward integration to ramp up sponge iron production and a captive power plant. 


Apart from brownfield expansion, the company is also looking for stressed steelmaking assets in the East Indian states of Odisha and Jharkhand in a bid to expand production.

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