Kolkata-based Rashmi Group announced a fresh investment plan of Rs 35,000 crore, equivalent to Rs 350 bn, for West Bengal across steel, power and mining sectors. The diversified group said over Rs 30,000 crore, equal to Rs 300 bn, would be directed to expand its iron and steel manufacturing capacity by an additional seven million tonnes per annum (mn t per annum). Another Rs 5,000 crore would be allocated to operationalise three coal mines in Birbhum and Paschim Bardhaman.

In January the group signed a memorandum of understanding with the Telangana government for projects worth Rs 12,500 crore, equal to Rs 125 bn. The company did not disclose detailed project outlines, specific locations, land requirements or revised implementation timelines for the proposed expansions, and broader implementation sequencing was not provided.

In October 2025 the group had announced plans to set up a 2.8 mn t integrated steel plant together with a 400 megawatt (MW) captive power project at an estimated investment of Rs 10,000 crore in Purulia district, with around 938 acres allocated at the time. The latest announcement did not clarify whether the earlier Purulia proposal is incorporated into the new Rs 35,000 crore blueprint or whether configurations, land allocations or timelines have been revised.

The firm said the new investment plans would cover Purulia, Paschim Bardhaman, Birbhum, Jhargram and Paschim Medinipur districts. It estimated that the steel capacity expansion alone is expected to create nearly 35,000 direct and indirect employment opportunities, and it suggested that the coal mining projects may generate another 15,000 jobs; the company provided these estimates as part of its announcement.

Rashmi Group stated it has already invested nearly Rs 25,000 crore, equal to Rs 250 bn, and currently operates a 10 mn t steel plant, an 850 MW captive power plant and a 1.45 mn t cement manufacturing unit in the state. Company officials described the state as an emerging industrial destination and indicated the proposed investments reflect confidence in sustained industrial growth, long-term socio-economic development and regional industrial resilience.