Shyam Middle East FZC, a subsidiary of India’s Shyam Steel Group, has inaugurated its first overseas manufacturing facility in the Hamriyah Free Zone in Sharjah with an initial investment of AED 60 mln (USD 16.3 mln).
The new plant will produce 24,000 tons per year of aluminium alloys and 6,000 tons per year of copper alloys, serving customers across the Middle East, GCC, Africa, Asia and Europe. The facility also includes non-ferrous metal recycling operations and advanced quality control laboratories.
According to the company, the project marks Shyam Steel Group’s first international manufacturing investment and will serve as a base for its global expansion strategy.
The company plans to invest an additional AED 150 mln (USD 41 mln) in phased expansion projects to increase production capacity, diversify its product portfolio and strengthen its position in advanced manufacturing. Future phases will include the production of special alloy steel and rare earth metals.
Shyam Steel Group is a leading primary steel producer in India, manufacturing rebar, wire rod, structural steel as well as ferro alloys. The company operates multiple integrated steel plants in West Bengal.
1 USD / 3.67 AED