Posted on 29 Feb 2024
India’s Shyam Steel says its new 1.19 million tonne/year integrated steel plant was virtually inaugurated by West Bengal chief minister Mamata Banerjee on 27 February, notes Kallanish.
The company invested INR 15 billion ($180.9 million) in setting up the newly commissioned plant, located in Raghunathpur, Purulia district, West Bengal, and spanning across 600 acres.
Shyam Steel director Lalit Beriwala says the company’s consolidated capacity will now increase to 4.03m t/y, due to the expansion. Finished steel capacity accounts for 1.36m t/y, he adds.
The new steel plant will help the company produce high-quality steel products and aid in addressing rising domestic and international demand, Beriwal adds.
According to sources, the Purulia plant’s planned capacities are two iron ore beneficiation plants each with 1.2m t/y capacity, two pellet plants each of 1m t/y, and eight direct reduced iron kilns of a combined 1.68m t/y.
It will also have a steel melt shop (SMS) with induction furnaces and LRF totalling 0.84m t/y capacity, and an EAF of 0.14m t/y. Moreover, it will possess a 0.77m t/y rolling mill through hot charging, 0.245m t/y coke oven plant (non-recovery), sinter plant of 0.525m t/y, a 0.315m t/y blast furnace, 0.042m t/y of ferroalloys capacity and a 200 t/y oxygen plant.
As per Beriwal, the company’s current annual turnover is INR 60 billion. It aims to increase this figure to INR 90-100 billion in 2-3 years, supported by the government’s focus on infrastructure.
On 1 February, Indian finance minister Nirmala Sitharaman proposed a capital expenditure increase of 11.1% to INR 11.11 trillion for the interim Union budget for the financial year ending March 2025. The budget retained its spending focus on infrastructure and fiscal prudence (see Kallanish passim).
Shyam Steel is a leading Indian TMT bar manufacturer. It has three other steel plants in West Bengal, which are located in Durgapur and Bankura. The company had earlier proposed building an integrated steel plant at the Purulia site and received environmental clearance in 2010. It was then modified in 2021 with a new proposal.
Source:Kallanish
