New Delhi, March 4, 2024 — In a momentous event graced by the virtual presence of Hon’ble Chief Minister of West Bengal, Mamata Banerjee, Shyam Steel, a venerable name in the steel industry, continues its legacy of excellence with the inauguration of its fourth Integrated Steel Plant at JSK-II, Purulia, West Bengal. Established in 1953, Shyam Steel has consistently exemplified excellence, and this new venture marks another significant milestone in its illustrious journey.
The Raghunathpur Steel Plant, with a capital investment of ₹1,500 crore, stands as a testament to Shyam Steel’s unwavering commitment to innovation, job creation, and sustainable growth. In phase 1 of its expansion, the plant boasts a robust steel-making capacity of 1.19 million tonnes per annum. This state-of-the-art facility is equipped with cutting-edge technology, including DRI Plants, Power plant, Steel Melting Shop, and a Rolling Mill, ensuring top-quality production. In the backdrop of Shyam Steel’s journey of excellence, fortified by the establishment of four cutting-edge integrated steel plants in Durgapur, Mejia, Bamunara, and Howrah, the inauguration of the Raghunathpur Steel Plant stands as a new pinnacle.
Mr. Purushottam Beriwala, Director of Shyam Steel Industries, ” The inauguration of the Raghunathpur Steel Plant marks a significant milestone in our relentless pursuit of growth and innovation. This strategic expansion is intricately aligned with our overarching goal of enhancing capabilities and providing superior service to our valued customers.”
Mr. Lalit Beriwala, Director of Shyam Steel Industries, expressed his enthusiasm for this momentous occasion, “Our vision has always been to contribute to India’s industrial progress while uplifting local communities. With the Raghunathpur Steel Plant, we are not only advancing our legacy but also creating over 5,000 direct employment positions for skilled and unskilled workers across various departments such as production, maintenance, quality control, logistics, and administration in the backward district of Purulia.”
The 600-acre plant, situated at the Jungle Sundari Karmanagari (formerly known as Raghunathpur Industrial Park), will play a pivotal role in bolstering the region’s economy. Construction commenced in April last year, and the plant is poised to transform the landscape of Purulia. The move is aimed at growth, further underscored by Shyam Steel’s ambitious vision to double its turnover from Rs. 4500 crores to Rs. 9000 crores over the next two years. This vision is backed by a robust expansion strategy, showcasing the company’s commitment to scaling new heights in the steel industry.
Shyam Steel remains unwavering in its commitment to contributing to the realization of the target of 300 million tonnes of steel production by 2030-31. This commitment aligns perfectly with the National Steel Policy and the broader vision of transforming India into a self-reliant $5-trillion economy. As the plant gears up for full-scale production, it promises to be a beacon of progress, prosperity, and pride for the people of Purulia.
