Rashmi Group, orre of the leading manufacturers of steel
At present, they are running Cement Grinding Plant having capacity of 3.6 lakh tones per annum, 3 lakh ton DRI unit and 18 MW power plant at Jhargram and 0.5 million ton Mini Steel Plant along with Ductile Iron Pipe at Kharagpur in West Bengal. The company plans to set up a ferro alloy plant in Jhargram and another 18MW power plant with an investment of Rs 130 crore which is already under implementation. The group is also in the process of setting up a 1.5 million ton beneficiation plant, 1.2 million ton pellet plant, 1.2 lakh ton wire rod and 12 MW power plant in Kharagpur with an investment of around Rs. 300 crore within the next one year. Their expansion plan is to also have another manufacturing facility at Jamuria, Burdwan with an Initial investment of around Rs. 500 crore. These projects will create employment for around 2000 people directly and indirectly.
The group has undertaken ambitious program to expand their business in Odisha and Madhya Pradesh in the next five years. They have plans of establishing an iron ore beneficiation plant along with a pellet plant in Odisha, ferro alloy plant and power plant in Madhya Pradesh. These projects will involve around 1000 crore of investment. The main thrust and drive for the expansion programme would be to upgrade the skills and quality in the value chain and become an active partner in the growth story of the country.
The Group occupies the entire North Eastern region markets (Assam, Tripura, Arunachal Pradesh and Meghalaya).lt has already captured a significant market share in West Bengal, Orissa, Bihar and Jharkhand and it is projected as one of the fastest growing companies in the East. The various sectors that it caters to are steel, construction, engineering and ductile iron pipes. The Group is also engaged in import and export of mineral and mineral based products. Rashmi Grouphas highlighted an investment plan of 9500 crores on their various projects over a period of five years.
At present the turnover of the organization is about Rs1973.69 crores with a net worth of around Rs. 1108.94 crore. They have paid Rs. 17.84 crore to state exchequer in FY'10-11 as value added tax. Rashmi is among the first company to have played a significant role in creating investment and employment opportunities in Maoist infected districts like West Midnapore. They have created employment of more than 2000 people directly and Indirectly.