India-based Shyam Steel Limited (SSL) has signed a Memorandum of Understanding (MoU) with the government of Maharashtra to establish an integrated steel plant in the western province.

Under the terms of the agreement, SSL will invest an estimated US$1.07 billion into the construction of this facility, a move designed to significantly expand its footprint in the Western Indian steel market. Its current manufacturing operations are primarily concentrated in the eastern states of West Bengal and Jharkhand.