Press Release - Shyam Metalics signs MOU with Maharashtra Govt. to set up Rs. 50000 Crore Integrated Steel Complex in Chandrapur

ORE TO METAL Certified SMEL/SE/2026-27/79 05% October, 2026 [EEE [The Secretary, he Manager - Listing Department LListing Department, INational Stock Exchange of India BSE Limited Limited “Exchange Plaza”, 5th Floor, Phiroze Jeejeebhoy Towers Dalal Street Plot No. C/1, G Block, Bandra-Kurla Mumbai 400 001 Maharashtra, India omplex, Bandra (East), Scrip Code: 543299 Mumbai 400 051 Maharashtra, India ymbol: SHYAMMETL Sub: Press Release Dear Sir/Madam, Pursuant to Regulation of SEBI (LODR) Regulations, 2015, we are please to inform you that the Company has issued an Press Release titled “Shyam Metalics Signs MoU with Maharashtra Govt. to SetUp ¥50,000 Crore Integrated Steel Complex in Chandrapur” This is for your information and Record. etalics and Energy lelted Birendra Kumar Company Secreta DUR BRANDS: SinicER Sirieer Siricer GnickR Srickrron iR [ ElL g [slElL ) [slelid [s el SHYAM METALICS AND ENERGY LIMITED Regd. Office: P-19, (Plate No.: D-403), Taratala Road, CPT Colony, Kolkata, West Bengal - 700088 CIN: L40101WB2002PLC095491 GSTIN: 19AAHCS5842A1ZE T: 491 33 6521 6521 Email: contact@shyamgroup.com Web: www.shyammetalics.com Follow us on: ®@®® Place ORE TO METAL Work Press Release Certified Shyam Metalics Signs MoU with arashtra Govt. to Set Up 250,000 Crore Integrated Steel Complex in FEB2026-F2E02R7 Chandrapur INDIA The proposed 9 MTPA greenfield facility is expected to create 30,000 direct and indirect jobs while driving industrial transformation across Vidarbha. MUMBAL, October 5, 2026 — Shyam Metalics & Energy Ltd (SMEL), India’s leading metals and minerals producer, signed a Memorandum of Understanding (MoU) with the Government of Maharashtra to establish a 9 million tonnes capacity integrated steel complex in Chandrapur. The agreement was formally executed in Mumbai by Dr. P. Anbalagan, IAS, Principal Secretary (Industries, Investment & Services), representing the Government of Maharashtra, and Mr. Brij Bhushan Agarwal, Chairman & Managing Director of Shyam Metalics and Energy Ltd, marking a shared commitment toward expanding the state's industrial footprint and creating long-term regional value. The project will be set up at an estimated investment of 50,000 crore and will mark one of Vidarbha region’s largest single industrial investments. It also aligns with the state's vision to accelerate manufacturing growth and expand India’s domestic steel-making capabilities. Chandrapur district, the chosen site for the proposed project sits close to iron ore reserves in Gadchiroli, coal deposits across the Chandrapur mining belt, and has proximity to essential minerals such as limestone and dolomite, all supported by well-connected rail, road, and power infrastructure. The Greenfield Integrated Steel Complex will be developed in two phases: ® Phase-I (3.75 MTPA Finished Steel Capacity) ® Phase-II (5.25 MTPA Additional Finished Steel Capacity) As a fully integrated greenfield complex built from the ground up, the facility will manage the entire steel production Jjourney under one roof. The plant will undertake onsite raw material conversion through pelletisation, sintering, and coke making, followed by ironmaking via blast fumace and direct reduced iron (DRI) processes, steel melting, continuous casting, and downstream rolling and finishing. This end-to-end operation is designed to manufacture high-quality, value-added steel for key sectors including infrastructure, construction, automotive, railways, renewable energy, oil and gas, and heavy engineering. By supplying these core industries with domestically manufactured steel, the facility will directly support India’s self-reliance goals and reduce reliance on imported steel. In near future the complex will become a major driver of regional economic prosperity generating approximately 10,000 direct jobs and 20,000 indirect employment opportunities. This substantial workforce demand will spur comprehensive skill development initiatives across Vidarbha, opening career paths for local youth while catalyzing an extensive downstream industrial ecosystem. Micro, small, and medium enterprises (MSMEs), fabrication units, engineering workshops, and transport and logistics providers across the region stand to gain substantial business momentum from the plant's operational requirements. At the same time, the development incorporates advanced environmental safeguards to ensure long-term, energy- efficient operations. The plant will deploy clean technologies including waste heat recovery systems to generate power, coke dry quenching to conserve water and trap energy, and closed-loop water treatment systems for complete recycling and reuse. Coupled with state-of-the-art pollution-control infrastructure and high-efficiency machinery, Shyam Metalics aims to set a strong benchmark for sustainable steel manufacturing in Maharashtra. OUR BRANDS: MLTIGEEER Vi TI[GSTeEli R § Vi[TSTIelGiE gR M, TIGsEoRn SLTI[SGTEETLYR FOIL 550D TMT RE-BAR STAINLESS STEEL FING SHEETS STRUCTURAL STEEL ALUMINIUM FOIL SHYAM METALICS AND ENERGY LIMITED Regd. Office: P-19, (Plate No.: D-403), Taratala Road, CPT Colony, Kolkata, West Bengal - 700088 CIN: L4010TWB2002PLC095491 GSTIN: 19AAHCS5842A1ZE T: 491 33 6521 6521 Email: contact@shyamgroup.com Web: www.shyammetalics.com Follow us on: @@®@ - Great Place ORE TO METAL To Work. Commenting on the partnership, Dr. P. Anbalagan, IAS, Principal Secretary (Industries, Investmen&t Services), RS-] Government of Maharashtra, stated: "Maharashtra continues to serve as the preferred industrial destination in the country by offering a robust policy framework, seamless infrastructure, and an enabling business climate. This landmark investment by Shyam Metalics will be a catalyst for the socio-economic transformation of Vidarbha. By anchoring a mega-scale steel complex in Chandrapur, the project will accelerate regional industrialisation, unlock extensive forward and backward linkages for local MSME, and generate large-scale employment for the region’s youth. The state government remains fully committed to facilitating the timely development and commissioning of this strategic project." Sharing his perspective on the mega project, Mr. Brij Bhushan Agarwal, Chairman & Managing Director of Shyam Metalics and Energy Ltd, said: "This MoU marks a pivotal milestone in Shyam Metalics' long-term growth journey and reinforces our dedication to nation-building. Chandrapur’s unique mineral wealth and strategic connectivity provide the ideal foundation for buildinga world-class, integrated steel manufacturing hub. With an investment of 50,000 crore, our vision goes beyond creating 9 MTPA of high-grade, value-added steel capacity. We are building an ultra-modern facility anchored in cutting-edge circular technology, resource efficiency, and green practices. We shall commence with obtaining the necessary permissions, registrations, approvals, and clearances in FY 2026-27, and look forward to working closely with the Government of Maharashtra to spur job creation, strengthen domestic supply chains, and drive lasting industrial prosperity across Vidarbha." About Shyam Metalics and Energy Limited Shyam Metalics is a leading and fastest-growing integrated metal-producing company based in India primarily in the steel industry in West Bengal, Odisha, Jharkhand, and Madhya Pradesh with a focus on Long & Flat Steel Products, Ferro Alloys, Aluminium, and Stainless Steel. The company got listed itself on the exchanges in 2021 and possesses a ‘market capitalization of more than ¥ 29,000 Cr. Headquartered in Kolkata, West Bengal, the company is amongst the largest producers of ferro alloys in terms of installed capacity in India. The company has an aggregate installed metal capacity of 16.93 MTPA across the steel value chain and is supported by a 467 MW aggregated installed capacity of captive power plants. For more information, please visit our website at https://www.shyammetalics.com/. Contact Details Media Relations Contact [Showing first 8,000 characters — download PDF for full document]