Shyam Metalics and Energy, on Thursday, March 21, announced its plans to invest an estimated INR 450 Crore towards setting up a greenfield aluminium project in Odisha. The upcoming project will generate nearly 1000 direct and indirect job opportunities.
The upcoming greenfield aluminium project will have an anticipated annual capacity of 60,000 Metric Tonnes and produce aluminium flat-rolled products. Moreover, the project marks a significant step towards sustainable manufacturing and supporting the ever-increasing electric vehicle (EV) sector in India.
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Shyam Metalics and Energy plans to foray into aluminium flat-rolled products and battery foil mills through this project. By leveraging green energy and advanced recycling techniques, the company aims to set new benchmarks for eco-friendly manufacturing. Additionally, while catering to the burgeoning demand in the EV segment, said Sheetij Agarwal, promoter and whole-time director of Shyam Metalics.
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Disclaimer: The information herein is based upon information obtained in good faith from sources believed to be reliable. All such information and opinions are further subject to change. Furthermore, the image featured in this article is for representation purposes only. It does not in any way represent the project. If you wish to remove or edit the article, please email editor@biltrax.com.
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