As part of the backward integration process, the Rashmi Group, a trailblazing force in the iron and steel industry, recently ventured into mining and accomplished a major milestone by obtaining the first-ever private coal mining rights in West Bengal. Three coal mines in the state have been allocated by the Ministry of Coal, Government of India, by auction, among other means. These mines are located in Birbhum and are called Kagra Joydev Coal Block and Kasta East Coal Block, respectively, and Jagannathpur B in West Burdwan. The successful allocation of these mines to the Rashmi Group represents a significant turning point in the industrial history of the state.

Following cabinet clearance under the “Long Term Settlement” Scheme (LTS), the West Bengal government gave the Rashmi Group 715.58 acres of land in the Kagra Joydev Coal Block in Kagra, which had previously belonged to DVC. This calculated decision promises to create a large number of jobs in the area and promote peripheral development as it paves the way for the operationalization of Birbhum’s coal block. It is also anticipated to make a significant financial contribution to the state government’s coffers.

Up to FY 2023, the Rashmi Group has made significant investments in West Bengal, including Rs. 450 crore in mining operations and Rs. 15,000 crores in an integrated steel plant. With plans to invest Rs. 20,000 Crores in expanding the Integrated Steel Plant and an additional Rs. 2000 Crores in mining operations between 2023 and 2030, the group is dedicated to strengthening its position in the state.

A bright future for the sector and the state is indicated by the planned expansion plans, which include the construction of integrated steel plants in Jamuria and Purulia, the expansion of the integrated steel plant in Kharagpur and Jhargram, and other projects.

Priyanka Dutta