Shyam Steel Industries, a major producer of structural construction material, has planned to invest Rs 3,000 crore to set up two integrated steel plants in Bengal.
The first phase of the work—likely to be completed by the end of 2009—will see an investment of Rs 500 crore.
Shyam Sunder Beriwala, chairman and managing director of Shyam Steel, said, “The project will be completed in two phases.” Shyam Steel has facilities at Durgapur and Howrah with a combined capacity of 2 lakh tonne a year.
The company will set up a 1200-acre plant at Raghunathpur in Purulia with a capacity of 1.1 million tonne, while it has planned another at Kharagpur in West Midnapore with a capacity of 0.6 mn tonne over 650 acres.