Sourav Ganguly, a former captain of the Indian cricket team, has declared his interest in business with a significant steel mill project in Salboni, in Midnapore, West Bengal. Ganguly plans to contribute a sizeable 2,500 crore to the project with a friend. Notably, around 6,000 people are anticipated to find work as a result of the plant.
Sourav Ganguly disclosed his 2007-era investment activities. The future Salboni facility was mentioned by the former BCCI president as their third project. Asansol and Patna were the locations of the first two factories.
“With a friend, I’ve been investing since 2007… I was playing cricket, but my friend has essentially been watching over it. The third plant will be this one. The first plant was in Asansol, a second was built in Patna, and the current one will be in Salboni, according to Ganguly, who was speaking on the ABP Ananda news channel.
The JSW company declared its willingness to return roughly 3,500 acres of land allotted for their intended steel plant, which never materialised, which led to the decision to establish the integrated steel facility in Salboni. According to Ganguly, the Chief Secretary, H.K. Dwivedi, and the Industry Secretary, Vandana Yadav, support the idea and have already helped get the required government clearances.
In addition, Ganguly disclosed the project’s quick construction schedule, with a six-month completion target. With a planned expansion, the initial Rs 2,500 crore investment will result in the immediate creation of 6,000 jobs, increasing the workforce by an extra 50%.
“JSW had acquired land for a steel mill that they never built. There will now be an integrated steel plant built there. Everything will be in one location. A Rs 2,500 crore first investment would be made. Around 6,000 people will initially gain employment as a result of it, and as we ramp up, another 50% of the workforce will be recruited, he continued.
A shareholder in Captain Steel India Limited, Sourav Ganguly
The company Captain Steel India Ltd, which specialises in TMT bars, would be in charge of the Salboni project. Owner of Captain Steel Sanjay Gupta confirmed Sourav Ganguly’s participation in the project as a stakeholder. Within two to three years, production of the plant’s target product—about 1 million tonnes of TMT bars—is expected.
Sourav Ganguly is like family to me. We’ve known one other for a long time. He will have a stake in the Salboni project, too,” Sanjay Gupta added.
With investments in ferroalloy and real estate, Captain Steel Group has a sizable revenue of Rs 4,000 crore. The company gains legitimacy from Sourav Ganguly long-standing status as a brand advocate for Captain TMT bars.
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