Steel sector leads in over Rs 26K Cr investment for Jharkhand
Ranchi, February 6: More than 60 per cent of the Rs 26,000 crore investment proposals received by Jharkhand government during the Bengal Global Business Summit (BGBS) in Kolkata pertain to the steel sector, an official said on Thursday.
Jharkhand Chief Minister Hemant Soren, along with his wife and MLA Kalpana, attended the eighth edition of the BGBS at the invitation of his West Bengal counterpart Mamata Banerjee.
“The Jharkhand government received investment proposals to the tune of Rs 26,000 crore, having the potential of generating 15,000 jobs, during ‘Advantage Jharkhand’ programme held as part of the BGBS. Of these proposals, about half pertain to the steel sector,” officials said.
These include various proposals by groups like Supreme Metals Export Private Ltd and Voltox Rail Pvt Ltd which have evinced interest in Rs 3,000 crore and Rs 4,000 crore projects in the state, the official added.
While Supreme Metals and Exports Pvt Ltd has expressed willingness to set up a steel plant, Voltox has expressed interest in special steel manufacturing in the state, the official said, adding that these two projects, if materialised, would result in the creation of 3,500 jobs.
In addition, BMW Industries Ltd has expressed intent to set up Cold Rolling Mill Plant at a cost of Rs 1,100 crore which in turn would generate 1,500 jobs, while Rashmi Metaliks Ltd has plans of investing Rs 3,800 crore with an employment potential of 3,000.
SM Steel and Power Ltd plans to set up a power generation project at a cost of Rs 2,800 crore, which is likely to generate 1,600 jobs, he said.
Tata Steel subsidiary, The Indian Steel and Wire Product Limited which has a unit at Jamshedpur has proposed an investment of Rs 1270 crore for setting up steel and wire industry. This will provide employment to more than 600 people.
Jamshedpur-based Gajanan Ferro Private Limited has proposed an investment of Rs 1050 crore. This will provide employment to more than 900 people.
Ramakrishna Forgings Limited which already has several plants in Gamharia industrial area of Seraikela Kharsawan district in Jharkhand has proposed an investment of more than Rs 313 crore for fabrication, grey, SG and ADI casting plants. This will provide employment to more than 500 people.
