Rashmi Group gets coal mining rights in WB

Kolkata: City-based business conglomerate Rashmi Group has bagged the first-ever private coal mining rights in West Bengal.

The union coal ministry through auction allotted the state three mines: Kagra Joydev Coal Block and Kasta East Coal Block in Birbhum and Jagannathpur Block in Burdwan West.

While Kagra Joydev Coal Block went to Rashmi Group, Kasta East Coal Block is a joint venture between Rashmi Group, Shyam Steel Group, and Supershakti Group.

Jagannathpur Block is another joint venture between Rashmi Group and Shyam Steel Group.

After receiving cabinet approval through the “Long Term Settlement'' scheme, the state government has transferred 715.58 acres of land to Rashmi Group at Kagra Joydev Coal Block, formerly allotted to DVC.

Sharing these details on Wednesday, Rashmi Group stated that it invested Rs. 15,000 crores in an integrated steel plant and Rs. 450 crores in mining till FY 2023.

It also informed that it has proposed investments of Rs. 20,000 crores in expanding the integrated steel plant and an additional Rs. 2000 crores in mining from 2023 to 2030.

Rashmi Group promoter Sanjib Patwari said, "The success of this venture will not only be a testament to our capabilities but also a symbol of collaborative growth with the state government.”