India’s Shyam Steel Limited (SSL) has signed a memorandum of understanding (MoU) with the government in Maharashtra to construct an integrated steel mill in the western state, a company statement said on Friday, April 17.
As per the MoU, SSL will invest an estimated $1.07 billion to construct the steel mill and expand its footprint across western regional steel markets.
At present, the company’s steel manufacturing facilities are located across the eastern states of West Bengal and Jharkhand.
I graduated from the University of Kolkata with a degree in economics and have three decades of experience in reporting for leading print media publications, covering key manufacturing industries like iron and steel, energy (fossil and renewable), chemicals and petrochemicals and mining sectors (coal, bauxite, iron ore and copper). I work as a correspondent for SteelOrbis reporting on the Indian steel industry covering pricing and trade trends across the value chain, capacity creations and utilizations, corporate developments, government policy frameworks and industry related news.
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