Kolkata: Rashmi Group has announced plans to set up a 2.8 million tonnes per annum (MTPA) integrated steel plant along with a 400 MW captive power plant at Jungle Sundari I, Raghunathpur in Purulia.
The state government has allotted 938 acres of land for the project and accorded it “Ultra Mega Project” status, enabling fast-track clearances for the Group’s expansion.
The proposed facility forms part of the Group’s broader growth strategy and reaffirms its position as one of India’s fastest-growing industrial conglomerates.
From its beginnings as a small-scale enterprise, Rashmi Group has so far invested over Rs 20,000 crore in West Bengal, with an additional Rs 10,000 crore committed by 2030. The company aims to transform the state into a major manufacturing and export hub. In FY25, the Group reported a gross turnover of Rs 41,393 crore and a net worth of Rs 26,791 crore, supported by a low-leverage financial model focused on reinvestment of profits, prudent debt management, and value-based capital expenditure.
Rashmi Group currently operates 8.3 MTPA of integrated iron and steel capacity, excluding 0.2 MTPA of aluminium. Its diversified portfolio includes pellets, sinter, pig iron, sponge iron, ductile iron pipes, billets, aluminium, TMT bars, and wire rods. The company also runs a 1.9 MTPA cement plant and generates 1,050 MW of power through captive and independent power projects. Additionally, it is developing five coal mine blocks in West Bengal and Jharkhand. The Group’s industrial footprint in Kharagpur, Jhargram, and other districts has created over 50,000 direct and indirect jobs. The upcoming Purulia steel plant and mining projects are expected to generate another 40,000 employment opportunities in the coming years.
Looking ahead, Rashmi Group plans to further expand its capacity in ductile iron pipes, steel, and ferro alloys, while strengthening its international presence across Southeast Asia, GCC countries,
and Africa.