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.