Rashmi Group To Invest Rs 350 bn In Bengal's Steel Power And Mining

04 Jun 2026 CW Team

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.

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.

Infrastructure Transport

04 Jun 2026

Delhi Airport to Finalise 20-Year Master Plan

Delhi International Airport Ltd (DIAL) is finalising a 20-year master plan to guide long term infrastructure and operational development at Indira Gandhi International Airport, an official said. The operator expects the plan to reflect changes in the airline industry, shifts in the competitive landscape and evolving infrastructure requirements across terminals, airside and support services. The official said the document is likely to be ready in the next two to two-and-a-half months as the operator moves through planning stages. The plan will be prepared after consultations with airport users ..

Real Estate

04 Jun 2026

Aadhar Housing Finance Targets Rs 500 bn AUM By FY29

Aadhar Housing Finance has set a target to raise its asset under management to Rs 500 billion (bn) by the end of FY29, aiming to achieve this over the next three financial years through an 18-20 per cent loan growth trajectory. The firm focuses on the low-income segment with a ticket size of less than Rs 1.5 million (mn) and has relied on that segment to drive expansion. The company closed FY26 with an AUM of Rs 305.71 bn, reflecting the expansion in recent years, and it reported a net profit rise of 22 per cent to Rs 11.08 bn. Management indicated that gross non-performing assets stood at 1.0..

Infrastructure Energy

04 Jun 2026

Government to Launch Coal Gasification Urea Policy

The government will unveil a coal gasification based policy for urea production within one month, aiming to promote the use of domestic coal feedstock in synthetic fertiliser manufacture. The move seeks to enhance self reliance in fertiliser supply and to provide an alternative route to natural gas based synthesis. Officials said the policy will set out technical standards, permitting norms and incentives for projects that adopt coal gasification technology. It will aim to attract investments from both public sector undertakings and private manufacturers. The scheme will address logistical and..