Shyam Metalics & Energy has agreed alongside the Maharashtra government to plan a huge new steel plant in Chandrapur, in the Vidarbha region. The project would cost ₹50,000 crore, about $5.19 billion, & produce 9 million metric tons of steel a year. It could create 30,000 jobs. The plant would make steel from iron ore & coal using blast furnaces & direct reduced iron. The agreement is not binding yet; it depends on land, clearances & incentives. It is the company's first big move outside eastern India.