Sourav Ganguly is set to invest INR 2,500 crore in a new venture, 6000 jobs are expected

Former Indian cricket captain Sourav Ganguly has announced his involvement in entrepreneurship with a major steel plant project in Salboni, in Midnapore, West Bengal. Alongside a friend, Ganguly is set to invest a substantial INR 2,500 crore in the venture. Notably, the plant is expected to generate employment opportunities for over 6,000 people.

Ganguly revealed his previous investment endeavours since 2007. The former BCCI president highlighted that the upcoming Salboni plant as their third project. The first two plants were established in Asansol and Patna.

“I have been investing since 2007, along with a friend... I was playing cricket, but he (the friend) has been basically looking after it. This is going to be the third plant. The first plant was in Asansol, then we set up another in Patna and this one will be in Salboni,” Ganguly said on ABP Ananda news channel.

The decision to set up the integrated steel plant in Salboni comes after the JSW group expressed willingness to return approximately 3,500 acres of land allocated for their proposed steel plant, which never materialized. Ganguly confirmed that the necessary government clearances for the project have already been secured, thanks to the support of the Chief Secretary, H.K. Dwivedi, and the Industry Secretary, Vandana Yadav.

Furthermore, Ganguly also revealed the rapid construction timeline, with the project expected to be completed within six months. The initial investment of INR 2,500 crore will result in the immediate creation of 6,000 jobs, with plans for further expansion to increase the workforce by an additional 50 percent.

"JSW had taken up land for a steel plant, which they did not set up. Now, we will set up an integrated steel plant there.... We will have everything in one place. The initial investment will be Rs 2,500 crore... To begin with, it will result in job creation for around 6,000 people and then we will ramp up and another 50 per cent will be added to the workforce,” he added.

Ganguly has been a stakeholder in Captain Steel India Limited

The Salboni project is set to be led by Captain Steel India Ltd, specializing in TMT bars. Sanjay Gupta, the owner of Captain Steel, confirmed Sourav Ganguly's involvement as a stakeholder in the project. The plant aims to manufacture approximately 1 million tonnes of TMT bars, with production anticipated within two to three years.

“Sourav is like family. We have been associated with him for years. In the Salboni project, he will be a stakeholder also,” Sanjay Gupta said.

Captain Steel Group, with interests in ferroalloy and real estate, boasts a substantial turnover of INR 4,000 crore. Ganguly's long-standing association with Captain TMT bars as a brand ambassador adds credibility to the venture.