Telangana Secures Rs 12,500 Crore Steel Plant Deal with Rashmi Group at WEF Davos

• Telangana Congress government secured a Rs 12,500 crore deal with Rashmi Group for a new steel plant at the World Economic Forum (WEF) in Davos.
• The proposed steel plant is expected to create 12,000 jobs and will focus on steel production, waste heat recovery, and energy-efficient steelmaking.
• Rashmi Group, founded in 1966 and based in West Bengal, is a global leader in Ductile Iron (DI) pipes and has interests in billets, sponge iron, TMT bars, power, and cement.
• The establishment of the plant faces challenges including land acquisition and ensuring the MoU translates into reality, but offers benefits like coal supply from Singareni Collieries.
• This investment is seen as a significant step towards industrial development in Telangana, potentially leading to cluster development and attracting more companies.

Why It Matters: Telangana inks a major Rs 12,500 crore deal for a steel plant, promising 12,000 jobs and industrial growth.