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Shyam Metalics strengthens resource security through Coal Block

Shyam Metalics Group has announced a major strategic advancement in its resource security and operational footprint through an investment in Alom
Solar Private Limited, who has been declared as the successful bidder for the Phutamura Coal Block mining rights.

Located in the Raigarh District of Chhattisgarh within the prolific Mand Raigarh coalfield, the Phutamura Coal Block spans an area of approximately 7.324 sq. km. and holds estimated coal reserves of approximately 170 million tonnes. It is expected that mining Operations and Coal Production shall commence from July 2027.

This strategic development serves as a crucial backward integration initiative for Shyam Metalics Group, designed to secure a stable, long-term, and cost-effective coal supply to support its captive power generation and core steel manufacturing processes. By securing vital raw material reserves, the Group reinforces its commitment to operational self-sufficiency, sustainable growth, and long-term value creation for its stakeholders.

At 11.17 am, Shyam Metalics was trading at Rs. 1,079.05, down by 0.92%, with a volume of 5678 shares on the BSE.