Rashmi Group announces its expansion plans
The Group has played a significant role in creating investment opportunities in Maoist Affected districts
Kolkata 16th December, 2011: Rashmi Group, one of the leading manufacturers of steel, sponge iron, pig iron, TMT, cement and ductile iron pipe, today announced its expansion plans at a Press conference. The group’s flagship companies are Rashmi Metaliks Limited and Rashmi Cement Limited and is committed to an all round improvement in performance, quality and customer satisfaction. Rashmi Group aims at a continuous capital investment, diversification and technology upgradation. Mr. R.C. Behera, President Business Development, Rashmi Group and Mr. P.K. Chakraborty, Director ( Project), Rashmi Group were present at the occasion to the address media.
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 other 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 per pellet plant,1.2 lakh ton wire rod and 12MW power plant in kharagpurwith 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 round 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. These projects will involve around around 1000 crore of investment. The main trust 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). It 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 Group has 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 Rs. 1973.69 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 oppurtunities in Maoist infected districts like West Midnapore. They have created employment of more than 2000 people directly and in directly. Speaking at the occasion Mr. R.C Behera, President Business Development, Rashmi Group said, "We are pleased as a group to announce the expansion plans of the group and are extremely confident that we will work towards the betterment of the organization and the people we serve."
CSR Initiatives
The group has undertaken different social responsibilities to upgrade the life of the people in the nearby villages in Kharagpur and Jhargram. One such initiative has been the programme developed by the group aimed at providing short-term technical training for the development of skill among the young and offer 80% of the land loser with jobs so as to meet the rapidly changing requirements of the industry concerned. Rashmi Group has also undertaken the task of establishing "Green Belt" around their integrated Steel Plant at Kharagpur (West Bengal) by the plantation of nearly one lakh trees. Ambulance facilities and primary medical assistance are provided to the local people. Local educational institutes have been offered assistance by Rashmi group comprising of the completion of the unfinished classrooms. A link-road between NH-6 and Malancha (Kharagpur) has been constructed for the people of the nearby villages. Besides health care the company has also extended social responsibilities by providing tube well for drinking water supply to the village in Jhargram.
About Rashmi Group
Rashmi Group founded in 1966, really got impetus from its promoter, a true visionary, Sri Sajjan Kumar Patwari. Growing from merely a re-rolling mill to a full fledged Cement Grinding Plant having capacity of 3.6 lakh tones per annum, 3 lakh ton DRI and 18 MW power plant at Jhargram and 0.5 million ton Mini Steel Plant at Kharagpur in West Bengal, the company has developed core competence in minerals, steel and cement with 30 years of experience. Rashmi Group of companies is a fast growing group in the field of manufacturing steel and cement. The Group has been technologically driven with special emphasis on quality. The Group is also engaged in import/export of Mineral & Mineral based products. The group's main companies are Rashmi Cement Ltd., Rashmi Metaliks Ltd. Rashmi Metaliks Ltd. at Kharagpur had been accredited with the certificate of ISO 9001:2000.
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