Shares of Shyam Metalics and Energy Ltd were trading in the green and 1% higher on 20 May after the company announced its foray into the wagon manufacturing market. 

The company would establish a new greenfield factory in Kharagpur, West Bengal, via its step-down subsidiary, Ramsarup Industries Ltd. The plant is anticipated to commence operations in March 2026.

The move helps the Indian government’s “Make in India” and “Atmanirbhar Bharat” efforts.  Shyam Metalics claimed that it would also create jobs and benefit the local economy.

The facility will be developed in two stages, which are as follows: 

• Phase I will produce 2,400 wagons per year (about 8 per day), 
• Phase II will double the capacity to 4,800 wagons annually. 

The plant will produce a variety of rolling equipment, including flat, open, box, hopper covered, tank, and specialised wagons.

The facility will have a ‘Uni-Flow’ manufacturing architecture for efficiency and rooftop solar panels.  It will also provide on-site housing and basic facilities to employees. The company intends to use domestically made equipment to assist local manufacturing, it stated.

Sheetij Agarwal, director of Shyam Metalics and Energy Ltd, said, “With our foray into wagon manufacturing, we are reinforcing Shyam Metalics’ vision of advancing India’s industrial self-reliance through high-impact, future-ready infrastructure. This facility reflects our commitment to innovation, sustainability, and nation-building.” 

“From utilising rooftop solar power to integrating indigenous technology, every aspect has been carefully crafted to boost efficiency, reduce environmental impact, and support employee well-being. 

The Uni-Flow layout introduces global manufacturing standards to our processes, enabling scalable operations while maintaining exceptional quality. 

This represents a major milestone in our journey toward becoming a holistic and responsible provider of steel and mobility solutions for India’s infrastructure development.  

Furthermore, the location has good accessibility via two national highways and a local port. It will also benefit from Shyam Metalics’ existing infrastructure, which includes a railway siding, captive power, and access to raw materials at the company’s main steel mill.

This also represents a strategic move by Shyam Metalics to diversify beyond steel and into a new area with development potential. It is part of the company’s five-year capital investment plan, which prioritises infrastructure and long-term growth.

Shyam Metalics is one of India’s biggest integrated metal producers, with operations in West Bengal, Odisha, Jharkhand, and Madhya Pradesh. 

The company is headquartered in Kolkata and specialises in long steel products, ferro alloys, aluminium, and stainless steel. Shyam Metalics was listed on the public exchanges in 2021 and has a market capitalisation of around Rs 25,473 crore.

Shyam Metalics is one of India’s top ferro alloy producers in terms of installed capacity, according to the CRISIL report. 

At 3:30 pm, the shares of Shyam Metalics were trading 0.23% higher at Rs 909 on NSE. 

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