India’s Shyam Metalics and Energy Limited (SMEL) has commenced operations at its first phase greenfield cold rolling mill (CRM) at its steel mill in the eastern state of West Bengal, a company statement said on Tuesday, September 17.
The company said that the new CRM facility has a capacity of 400,000 mt per year to produce pre-painted galvalume coils (PPGL) and galvanized iron/galvanized steel (GI/GL) coils.
It said that capital investment to the tune of $41 million has been completed in the first phase, with an additional investment of $31 million to be made in the second phase.
Brij Bhushan Aggarwal, vice-chairman and managing director of SMEL, said the new facility is expected to contribute in the range of 8-10 percent to the revenues of the company, while the strategic location in eastern India aims to address the region’s shortage of color-coated sheet manufacturing units.
