Rs 8,000 Crore investment in Jharkhand’s Kolhan to create 5,000 jobs

Mail News Service

Jamshedpur, Jan 16: In a major push to the industrial growth of Kolhan, the state government has signed Memorandum of Understanding (MOUs) with several companies, committing a total investment of Rs 8,000 crore. This massive investment is set to provide direct and indirect employment to more than 5,000 people across the region. The development comes as part of the government’s initiative to boost the industrial sector in Jharkhand.

Voltas Rail Private Limited, one of the major investors, has proposed setting up a railway coach assembly plant in East Singhbhum. The company also plans to establish facilities for fabrication, casting components, steel, and aluminium production, contributing Rs 3,967 crore to the region’s economy. Voltas aims to create job opportunities for around 2,000 people directly and indirectly.

Ramakrishna Forging Limited, another key player, intends to set up a fabrication plant in Saraikela-Kharsawan with an investment of Rs 139.58 crore. This project will directly benefit over 200 people. The company is also planning to invest Rs 30,000 crore in the region over the coming years.

The Jharkhand government’s industrial incentive policies have played a key role in attracting these investments. To date, companies have received Rs 98.49 crore in incentives under various industrial policies, further bolstering the attractiveness of the state.

Industry Department Secretary Jitendra Singh emphasized the importance of these incentives in fostering industrial growth. “Our incentive policies have successfully drawn investors to Jharkhand, and we continue to improve facilities to further promote industrial development,” he said. Companies have benefited from policies including the Jharkhand Industrial Investment and Promotion Policy, the captive power plant policy, and the food processing and textile policies.