Speaking to reporters at Writers' Buildings in 2005, Bansa Gopal Chowdhury, West Bengal's Minister for Cottage and Small Scale Industries, said, in 2005, a new company would be formed and an industrial complex would be set up at the plant complex in Raniganj. Outdated machinery and technology will be discarded and new machinery for manufacturing specialty paper set up. It has also been proposed to set up an integrated steel plant, and a 300 MW capacity thermal power plant within the existing complex. The total investment in these projects would be Rs 1,600 crore and would be commissioned in phases by April 2009.