Indian Rungta Mines Ltd. (RML) will invest 350 billion rupees to build two steel mills with annual capacity of 530,000 tons respectively, mainly producing Thermo-Mechanically Treated bars (TMT steel bars), wire, structural steel and alloy steel. The project could add 2,000 local jobs, and iron ore demand will be supplied by the company's mines.

Last August, the group has planned to expand annual capacity of its Jharkhand plant from 500,000 tons to 700,000 tons. Rungta Group owns iron ore and manganese mines in Orissa and Jharkhand, and the group's companies can produce direct reduced iron, semi-finished and finished steel, cement and coal mines, as well as real estate business.