Shyam Metalics and Energy (SMEL) has announced a Rs 10,000 crore capital expenditure plan under its 'Vision 2031' to more than double its revenue to Rs 40,000 crore by 2031.
The company aims to increase its production capacity from 15 million tonne to 27 million tonne within seven years. The investment will focus on expanding specialty steel, stainless steel, flat products, and aluminium segments, with emphasis on downstream integration, technology upgrades, and energy efficiency improvements.
SMEL’s strategy targets strengthening its foothold in high-value sectors such as defence, infrastructure, engineering, and railways. Additionally, the expansion plan will generate around 10,000 new employment, and double export revenues to USD 300 million.