West Bengal Chief Minister Mamata Banerjee inaugurated Shyam Steel's Rs 1,500-crore integrated plant in Purulia district virtually on 27 February, 2024.

Strategically located at Raghunathpur, the new steel plant spans over 600 acres and will have a capacity of 1.19 million tonne. This is the company's fourth facility in the state, with three others located in Durgapur and Bankura.

The expansion will culminate in a combined capacity of 4.03 million tpa, comprising 1.36 million tonne of finished steel. With a current turnover of Rs 6,000 crore, the company seeks to strengthen its position in the steel industry.

The new facility will enable the company to produce high-quality steel products to cater to the increasing demand of domestic and international markets. The Group targets Rs 9,000-10,000 crore turnover over the next two to three years on the back of an infrastructure push by the government.