Shyam Metalics, an Indian metal company, hopes to complete the acquisition of Mittal Corp. so it may expand into the stainless steel/wire rod & bar mill industry, which will help it diversify its metal offerings.
In order to map out the company’s growth trajectory, Shyam Metalics claimed to have started using a “diversification technique” in the metal industry. The company plans to invest an additional Rs 7,500 crore over the following five years.
According to the corporation, its integrated steel production capacity will rise from its current level of 8.85 MTPA to 14.45 MTPA, with a value-added Long Steel capacity increase to 2 MTPA from its current level of 1.47 MTPA.
This news is written by Ms. Amrita Singh, Research Assistant, All India Legal Forum