Mumbai: S.M. Group has signed a Memorandum of Understanding (MoU) with the Government of Maharashtra for the proposed establishment of the Maharashtra Integrated Steel and Special Steel Complex at Salori, Chandrapur, Maharashtra. The project envisages an investment of ₹20,000 crore and is expected to generate approximately 2,000 employment opportunities, marking a significant milestone in the Group’s expansion into Maharashtra.
The MoU signing ceremony was held at Vidhan Bhavan, Mumbai, in the presence of Maharashtra Chief Minister Devendra Fadnavis, Industries Minister Uday Samant, representatives of SM Group and other dignitaries. The agreement is part of the state’s broader efforts to attract industrial investments, strengthen its manufacturing base and accelerate regional economic development.
The proposed steel complex is expected to strengthen Chandrapur’s position as an emerging industrial destination, particularly in the steel and allied manufacturing sectors. The investment is expected to support employment generation, encourage the development of ancillary industries and create opportunities across logistics, transportation, raw material supply and other supporting services. It will also contribute to strengthening the industrial ecosystem.
For S.M. Group, the proposed investment represents an important step towards expanding its integrated steel manufacturing capabilities and geographical presence. The Group has an established manufacturing base in Jharkhand, with operations spanning sponge iron, MS billets and TMT rebars. Its existing infrastructure includes Direct Reduced Iron (DRI) units, Steel Melting Shop (SMS) facilities, continuous billet casting and automated rolling mills, supported by captive power generation.
Commenting on the development, Manish Khemmka, Chairman and Managing Director, S.M. Group, said,
“The signing of this MoU with the Government of Maharashtra marks an important milestone in S.M. Group’s growth journey. Our proposed investment in Chandrapur reflects our confidence in Maharashtra’s industrial potential and our commitment to contributing to India’s manufacturing capabilities. Through this project, we aim to support the development of the regional steel ecosystem, generate meaningful employment and create opportunities for allied industries. We look forward to working closely with the state government to take this initiative forward.”
The proposed project reinforces the growing importance of regional manufacturing hubs in supporting India’s infrastructure and industrial development. With its planned investment in Chandrapur, S.M. Group aims to contribute to Maharashtra’s industrial growth while strengthening its own presence in the country’s steel sector.
The project will progress in coordination with the relevant state authorities and will be subject to applicable statutory approvals, clearances and other regulatory requirements.
About SM Group
SM Group is a diversified industrial enterprise with an integrated presence across iron and steel manufacturing, power generation, mining, minerals, transportation, shipping, exports and supply chain solutions. With manufacturing operations in Odisha and Jharkhand, the Group has established capabilities across sponge iron manufacturing, steel production, billet casting and captive power generation, supported by access to key raw materials and mineral resources. SM Group has built a strong industrial and distribution network across Eastern, Northern and Southern India, serving the infrastructure and construction sectors through reliable manufacturing, efficient logistics and supply-chain capabilities.
