World Economic Forum: Tata Steel agrees to invest Rs 11k crore green steel tech in Jharkhand

Ranchi: Jharkhand chief minister held a series of meetings and deliberations with global industry giants and policy makers, who pledged investments in Jharkhand during his World Economic Forum (WEF), held in Davos, Switzerland.To push the state’s thrust on green technology, India’s sustainable industrial transition, Tata Steel has announced an investment of Rs 11,100 crore in the state for next-gen industrial infrastructure and provide jobs. The state govt and Tata Steel Ltd signed a letter of intent (LoI) and memorandum of understanding (MoU) in this regard on the sidelines of the WEF event.“The agreement outlines a proposed investment of over Rs 11,000 crore in new-age green steel technologies, aimed at supporting India’s transition towards low-carbon, environmentally responsible industrial growth,” an official said.“The partnership will bring advanced green steel technologies from the Netherlands and Germany to Jharkhand, which will put the state as a key contributor to the global shift towards sustainable manufacturing,” he added.According to the official statement, a major component of the proposed investment involves deploying HISARNA and EASyMelt iron-making technologies, with an estimated investment of Rs 7,000 crore. “Following successful pilot trials in the Netherlands, Tata Steel plans to establish a commercial-scale facility of approximately 1 million tonnes per annum capacity in Jamshedpur by 2030,” it said.During the interaction, Tata Steel MD T V Narendran and Hemant also sought support in the upgrade of Industrial Training Institutes (ITIs) in Jharkhand to enhance employability.Hemant also held meetings with Sunita Rajan, the managing director of Bloomberg Asia-Pacific, which will be organising a global roundtable in India in October this year. It has formally invited Hemant to participate in the event.At the meeting with Cecilia Oldne, chief India representative, Sweden–India Business Council, Hemant focused on strengthening business cooperation between Jharkhand and Sweden.“Oldne informed that more than 50 Swedish companies are currently operating in India, and highlighted Jharkhand’s potential to emerge as an important investment destination for Swedish enterprises,” the state IPRD said.Hemant has proposed a Sweden–India Business Council to prepare a feasibility report on bicycle usage in Jharkhand and the potential introduction of e-bicycles for schoolchildren.The CM -led delegation to WEF also met with Bharat Kaushal, regional head, Hitachi, for discussions on cooperation in the areas of power systems, power transmission, advanced infrastructure, and skill development.“It was proposed that joint meetings be organised during February–March with Hitachi’s manufacturing units in India and Jharkhand, along with other Japanese companies, to deliberate on short-term and long-term projects and identify concrete areas of collaboration,” it said.During the inter-Ministerial dialogue, held alongside Vazil Hudák, former minister of finance and minister of economy of Slovakia, and others, talks were held on renewable energy development, opportunities in heavy vehicle manufacturing, among others.During one of the panel discussions, Hemant said Jharkhand’s efforts to align industrial growth with environmental responsibility, while creating employment opportunities and strengthening regional economic resilience.Addressing policymakers, Hemant said Jharkhand does not intend to remain merely an exporter of mines and minerals. The state’s resolve to move towards value addition, sustainable industrialisation, and inclusive growth to directly benefit the people is the key motto,” he said.Notably, chief minister Hemant Soren on Tuesday became the first elected tribal leader from India to get the White Badge honour at the WEF. The White Badge is conferred upon select global leaders worldwide and grants uniform access to the WEF Congress Centre and all WEF exclusive events, making it one of the highest distinctions accorded by the World Economic Forum to heads of state and governments, the state IPRD department said in a statement.