Shyam Metalics commissions aluminium foil facility at Sambalpur plant in Odisha

Mumbai, Jul 16 (PTI) Shyam Metalics and Energy Ltd on Thursday announced the commissioning of an aluminium foil manufacturing facility with an annual production capacity of 18,000 tonnes at its Sambalpur plant in Odisha. The company has invested around Rs 800 crore in developing downstream aluminium facilities at the plant to strengthen value-added product portfolio. The company's step-down subsidiary, SMEL Steel Structural, has commenced commercial production at its aluminium foil manufacturing facility in Sambalpur, a statement said, adding that the plant is equipped to manufacture premium-grade foils in thickness range of 6-40 microns. SMEL also confirmed that its aluminium Flat Rolled Products (FRP) facility is in its final phase and is on track for commercial launch by September, further strengthening its presence in the value-added aluminium products segment. The FRP section will have an installed capacity of 60,000 TPA. Brij Bhushan Agarwal, Chairman and Managing Director, Shyam Metalics and Energy Ltd said, "by delivering high-quality, specialised products, we are well-positioned to serve high-growth economic segments, unlock new revenue streams, and simultaneously foster localised socio-economic and employment growth in Odisha." Shyam Metalics and Energy shares closed 0.32 per cent higher at Rs 1,037.25 on BSE, taking its market valuation to Rs 28,952.95 crore. PTI IAS DR MR