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Private Sector | West Bengal - India | PID: 202193
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Iron and steel company Rashmi Group has forayed into the mining sector by securing the first-ever private coal mining rights in West Bengal, as a part of the backward integration process
The Union Ministry of Coal has allotted three coal mines- Kagra Joydev Coal Block and Kasta East Coal Block in Birbhum and Jagannathpur-B in West Burdwan through auction. These mines were allotted to Rashmi Group, marking a landmark moment in the state's industrial landscape
After receiving cabinet approval through the Long Term Settlement (LTS) scheme, the state government transferred 715.58 acres of land to the Group at Kagra Joydev Coal Block, which was formerly allotted to DVC. This strategic move paves the way to operationalise the coal block in Birbhum, generating opportunities for employment in the region and peripheral development
To commence its mining operations in Kagra Block (Birbhum), the local district administration supported the Group in acquiring land for mining and possession of land through LTS to proceed with its plans as per schedule. The Group targets to augment its presence in the state, with proposed investments of Rs 20,000 crore in expanding the integrated steel plant (ISP) and an additional Rs 2,000 crore in mining activities from 2023 to 2030
The proposed expansion seeks to create about 40,000 jobs in the ISP and 15,000 in mining. The expansion plans include the augmentation of the ISP in Kharagpur & Jhargram and the establishment of ISP in Jamuria and Purulia. Rashmi Group is engaged in manufacturing integrated iron and steel products, cement, power and mining in Eastern India
| Updated on: 22 - Dec - 2023
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