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Private Sector | Orissa - India | PID: 202674
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Shyam Metalics & Energy plans to foray into a greenfield expansion project for aluminium flat-rolled products. The Group intends to invest Rs 450 crore in the project, which will be set up in Odisha.
The investment is aimed at capacity expansion of the Group while it will generate employment with 1,000 direct and indirect work opportunities. It will also increase manufacturing of aluminium flat rolled products to bridge the demand and supply gap. With this, Shyam Metalics Group aims to be self reliant in the area of raw materials of aluminium foil business.
With an annual capacity of 60,000 ktpa of flat-rolled products, this expansion marks a stride towards sustainable manufacturing and supporting the electric vehicle (EV) sector in India. In its foray into flat-rolled products and battery foil mills, the company reinforces its practices for innovation and sustainability.
By leveraging green energy and advanced recycling techniques, it aims to set new benchmark for eco-friendly manufacturing, while catering to the demand in the EV segment.
| Updated on: 27 - Mar - 2024
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