Rashmi group to invest in West Bengal - Kolkata

Wednesday, 7 November 2012

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City: Kolkata, West Bengal


Contact name Keyline

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Kolkata-headquartered Rashmi Group will invest nearly Rs 930 crore in setting up different projects across West Bengal. Expansion plans will be funded through internal accruals and borrowings.
The group, which reported a turnover of nearly Rs 2,000 crore last fiscal, has a cement grinding plant and DRI unit in Jhargram, West Midnapore. It also has a Mini Steel plant and Ductile Iron (DI) Pipe manufacturing facility in Kharagpur, West Midnapore.
Rashmi Group caters to various sectors such as steel, construction and DI pipes in eastern India in West Bengal, Orissa and Jharkhand and in the north-eastern States of Meghalya, Tripura, Assam and Arunchal Pradesh.
It has already invested around Rs 130 crore to set up a ferro alloy plant and an 18-MW power plant project at Jhargram. The project is expected to be completed by the next fiscal.
The group's investment in Bengal also includes a Rs 300-crore project in Kharagpur for setting up a 1.5 million tonne beneficiation plant, 1.2 mt pellet plant, 1.2 lakh tonne wire rod and a 2 MW power plant. The beneficiation, pellet plant and wire rod plants are expected to be operational in 2012.
“Excess land in our existing Kharagpur facilities would be utilised for setting up some of the projects,” Mr Amlan Bandyopadhyay, Senior Manager, Corporate, Rashmi Group, said.
Rashmi Group, which is already in possession of 285 acres at Jamuria in Burdwan through its subsidiary company - Rashmi Cements, is planning an initial investment of Rs 500 crore in setting up the first phase of its one mt capacity enabled integrated steel plant there.