Shyam Metalics to invest Rs 450 crore to set up aluminium plant

Shyam Metalics on Thursday anunced its entry into aluminium sector with an investment of Rs 450 crore to establish a greenfield aluminium plant in Odisha. project aims to focus on production of flat rolled aluminium products with an annual capacity of 60,000 metric tonnes.

company's decision to diversify into aluminium reinforces commitment to exploring new avenues within metal industry. Shyam Metalics intends to lever its expertise in metal production, spanning steel products, ferro alloys, stainless steel, and w, aluminium.

venture is anticipated to t only bolster Shyam Metalics' portfolio but also contribute to ecomic landscape of Odisha by generating approximately 1,000 direct and indirect employment opportunities. project aligns with state's efforts to attract investments and foster industrial growth.

Shyam Metalics' foray into aluminium sector signifies a strategic expansion strategy aimed at capitalizing on emerging market opportunities and reinforcing its position as a key player in metal industry.

(With PTI inputs)