Industry News

Shyam Steel invests $95 million to increase rebar output2021-08-11

Shyam Steel, a leading TMT bar producer in India, has approved investing US$95 million to extend a factory. The investment will be used in its Mejia plant.

It was expected to increase its rebar''s annual output to 500,000 tons from 200,000 tons. The company hoped its total annual output can reach 900,000 tons in 2023.

To reach its production goal, part of the investment will be also used to improve the output of sponge iron and square billet, as well as the production capacity of its rolling mill.

The company also hoped to participate in the auction of mines to balance the effect of the iron ore prices fluctuation.