Shyam group commissions first phase of Rs 9,900 cr steel plant

Kolkata : Kolkata Sep 02 2011 :The Kolkata-headquarter-ed Rs 3,500 crore Shyam group has commissioned the first phase of its 1.1 MTPA integrated steel plant at Jamuria (Burdwan) on 400 acres of privately acquired land. This is the first project in the state for making stainless steel from iron ore fines.

Shyam group, which is into ferro alloys, finished steel, power, cement and infrastructure, will cough up Rs 9,900 crore to complete the project by 2014-15. “The project will come up with a 1,000 MW captive power plant,” Brij Bhushan Agarwal, MD, Shyam group, told Financial Chronicle, adding that the group had already pumped nearly Rs 800 crore and was in the process of investing another Rs 700 crore by the middle of 2012.