Lloyds Metals and Energy Limited (LMEL) has announced a monumental investment of over Rs 40,000 crore in Maharashtra's Gadchiroli district over the next five years. 

This significant capital infusion is earmarked for the expansion of its steel plant and related units, further cementing Gadchiroli's position as a burgeoning industrial hub.

This additional investment comes on top of the ₹5,000 crore already invested by Lloyds Metals in the region.

Managing Director B Prabhakaran stated that the overall investment plan for the district stands at Rs 45,000 crore, with Rs 5,000 crore already deployed. 

He emphasized that this expansion is projected to generate approximately 30,000 direct and indirect employment opportunities, providing a massive fillip to the local economy and empowering the youth in this region, which has historically been impacted by Left Wing Extremism.

The company intends to fund this extensive expansion primarily through internal accruals, with the option to raise additional capital if needed. 

Notably, Lloyds Metals successfully raised over Rs 4,000 crore last year through a qualified institutional placement, demonstrating strong investor confidence in its growth trajectory.