India’s Shyam Metalics and Energy Limited (SMEL) has started construction of a 0.3 million mt stainless steel hot rolled coil facility at its existing mill at Sambhalpur in the eastern state of Odisha, a company statement said on Wednesday, January 28.
The company said that the facility will specialise in the production of 200 and 400 series stainless steel hot rolled coils by utilising captive raw materials such as direct-reduced iron (DRI), power and ferroalloys in a reliable and efficient supply chain.
The company also announced expansion plans to construct a stainless steel bright bar production facility with a capacity of 25,000 mt per year and a steel wire production unit with a capacity of 18,000 mt per year.
These two projects have been scheduled for commissioning around mid-2027, while entailing a capital investment of around $687 million.
