With a concentration on long steel products and ferro alloys, ShyamMetalics and Energy Limited (SMEL), a prominent integrated metal producing firm with headquarters in India, has begun the new year on a promising note by gaining Consent to Operate (CTO) from the Orissa State Government.
The company had budgeted 360 crore for capital expenditures to boost iron pellet output from 3.6 MTPA to 6 MTPA as part of its expansion goals. The CTO will add 1.2 MT to the Sambalpur plant’s current capacity, bringing the facility’s overall capacity to 3 MTPA and the Company’s total pellet capacity to 4.8 MTPA. The business is pleased to share another another early implementation.
This expansion at Sambalpur was slated to be completed by September 2023, has come through Eight (8) months ahead of schedule. This has resulted 40% additional capacity in the plant for producing Pellets.
Commenting on the developments, BhushanAgarwal, Managing Director said, “The key to deliver on our promised growth plans is our focus on timely implementation coupled with strong execution. We are happy to have completed a large project much earlier than the proposed timeline. This will enable us to efficiently cater to the increasing demand for our products. We have now completed and implemented nearly 57% of the proposed expansion capacities. We look forward to continue to maintain our track record on timely delivery and generate enhanced value for stakeholders.”
