Shyam Steel plans to build sponge iron plant
Indian steel producer Shyam Steel reportedly plans to invest Rupees 1 billion ($22 million) to establish
sponge iron plant in Durgapur with the purpose of meeting local demand.
Moreover, the company plans to invest Rupees 500 million ($11 million) to establish a mini blast furnace.
Shyam Steel produces
longs with an annual
production capacity of 200'000 tons. The company serves downstream industries such as
construction, tube and
pipe producers.