India's Shyam Metalics & Energy Ltd has signed a memorandum of understanding (MoU) with the Maharashtra government to set up a 9 million mt greenfield steel mill at Chandrapur in the western Indian state, according to a regulatory filing by the company on Monday, October 5.
The company said that an investment estimated at $5.19 billion would be made in the project.
The greenfield project will be developed in two phases. The first phase will have a 3.75 million mt per year of finished steel capacity, while the second will add another 5.25 million mt per year.
The company said it will undertake the entire production chain at the site, from pelletization, sintering and coke production to iron-making, steel melting, casting, rolling and finishing.
