Shyam Metalics announces ₹20,000 crore investment push in Bengal

Sanjay Kumar Agarwal (L), Joint Managing Director, Shyam Metalics and Brij Bhushan Agarwal, Chairman and Managing Director, Shyam Metalics and President, Indian Chamber of Commerce. Photo: Special arrangement

Shyam Metalics, one of the country’s leading metal conglomerates, on Tuesday (May 19) announced an investment of Rs 20,000 crore in West Bengal in the coming years. The company’s chairman and chief executive said they hoped for an easier path for industrial growth after the change in government.

“We employ more than 25,000 people in Bengal and plan to increase it to at least 45,000 in the next few years. With the new era in the state, we think a lot of central funds will come for better development,” CMD Brij Bhushan Agarwal said on Tuesday.

They are also set to start a railway manufacturing unit at Kharagpur and will invest at least ₹ 4,000 crore in this project in the coming years. They have recently acquired a factory plant that has been closed for almost 15 years and are expected to start operations at this plant by the end of this year.

Mr. Brij Bhushan also said that almost 90% of their workers are from Bengal and they are inclined to continue recruiting from there to ensure better employment of youth in the state.

Calling it a proud moment for Bengal, Sanjay Kumar Agarwal, joint managing director, said they hope for a better land policy from the new government to help them acquire land and start work faster than before.

“We will see that we get a chance to give jobs to people from this state so that migration stops. We appreciate the work ethic we have in Bengal,” said Mr. Sanjay.

He also added that they were among the first to announce such a huge investment in Bengal after the regime change and asked other industrialists to follow suit.

According to top company officials, they said that Bengal consumes only 15,000 metric tonnes of coated steel, similar to Kerala, even though the population of Bengal is almost three times that of Kerala. Adding that this was mostly due to lack of growth, the official said there was huge potential in the state to increase consumption through better industrialization.

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EOM

Published – 20 May 2026 11:04 AM IST