Shyam Steel Unveils ₹15,000-Crore Expansion Blueprint, Lays Foundation for Mega Integrated Steel Plant in Bankura
2-MTPA facility at Mejia aims to create over 20,000 jobs and strengthen West Bengal’s industrial revival
By Rajib Mukherjee | IBG NEWS
Kolkata/Bankura, July 18: In one of the largest industrial investment announcements in West Bengal in recent years, Shyam Steel Group has launched an ambitious ₹15,000-crore expansion programme with the foundation stone laying of a new 2-million-tonne-per-annum (MTPA) Integrated Steel Plant at Mejia in Bankura district. The project marks a major step in the company’s long-term expansion strategy and is expected to significantly boost employment, manufacturing capacity and infrastructure development in eastern India.
The foundation stone for the new integrated steel facility was laid on 17 July 2026 by West Bengal Chief Minister Suvendu Adhikari. The proposed plant will include a Direct Reduced Iron (DRI) unit, pellet and beneficiation facilities, a steel melting shop and a high-speed rolling mill for manufacturing TMT bars and structural steel. According to the company, the expansion will contribute to India’s target of producing 300 million tonnes of steel annually by 2029-30, as envisioned under the National Steel Policy 2017.
Major Capacity Expansion
Founded in 1953, Kolkata-headquartered Shyam Steel Group currently has an annual production capacity of 1.5 MTPA. Upon completion of the Mejia project, the company’s finished steel production capacity is expected to rise to 3.5 MTPA, reinforcing its position among India’s leading integrated steel manufacturers. The company currently records an annual turnover exceeding ₹10,000 crore, employs over 25,000 people, and works with more than 5,000 dealer partners across the country.
₹5,000 Crore Diversification Plan
Beyond steel manufacturing, the Group has announced plans to invest an additional ₹5,000 crore in strategic sectors including defence manufacturing, aviation, industrial townships, fabrication, paints, construction chemicals, engineering and infrastructure. Together with the steel project, the total planned investment reaches ₹15,000 crore, making it one of the largest private industrial commitments in the state.
Employment and Regional Development
The integrated steel project and related investments are expected to generate more than 20,000 direct and indirect employment opportunities, while supporting the livelihoods of over 1.25 lakh families. Company officials said the expansion is expected to accelerate economic activity in Bankura and neighbouring underdeveloped districts by creating new industrial ecosystems and ancillary business opportunities.
Company’s Vision
Speaking on the occasion, Lalit Beriwala, Director of Shyam Steel Group, described the investment as a long-term commitment aligned with the vision of Atmanirbhar Bharat and the industrial development of West Bengal. He said the project is intended not only to expand production but also to promote sustainable economic growth, employment generation and technological advancement in the state.
He further stated that the enhanced production capacity would help the company meet growing demand from infrastructure sectors including highways, railways, defence, airports, oil and gas, housing and urban development projects across India.
IBG NEWS Analysis
The announcement represents a significant industrial investment for West Bengal at a time when states across India are competing to attract manufacturing projects. If implemented on schedule, the Mejia steel plant could strengthen eastern India’s manufacturing ecosystem, create thousands of skilled and semi-skilled jobs, stimulate ancillary industries, and reinforce Bankura’s position as an emerging industrial destination.
The proposed diversification into defence, aviation and engineering also reflects Shyam Steel Group’s broader ambition to evolve beyond conventional steel manufacturing and participate in India’s expanding strategic manufacturing sector.
With more than seven decades of industrial experience, Shyam Steel Group’s latest investment signals confidence in West Bengal’s industrial potential and could serve as a catalyst for further private sector investments in the region.
