Tata Steel to invest ₹3000 crore in Jharkhand to augment capacities

Tata Steel, India’s largest steel manufacturer, announced Rs 3.000 crore in Jharkhand on Saturday to boost capacity over the next three years.

Tata Motors, one of the major car manufacturers worldwide, already has a Jamshedpur-based manufacturing plant.

During the opening ceremony of the Jharkhand Industrial Promotion and Investment Policy (JIIPP) 2021 here, Chief Minister Hemant Soren committed here.

The Jharkhand government is hoping to support investment worth 1 lakh crore in the state. Moreover, generate 5 lakh jobs via a two-day investors’ forum, which concluded on Saturday.

The Jharkhand government hopes to attract Rs 1 lakh crore in investment. As to create 5 lakh job opportunities during a two-day investor forum that finished on Saturday here.

Also read: Tata Motors Share hit 10 % lower : As JLR warns Chip deficit

The company is a leading company of the Tata Group with an annual capacity of 34 million tonnes. Especially one of the ten world’s largest stainless steel manufacturers.The current revenue of Tata is Rs 1,84,191,47

“Tata Steel aims to spend Rs 3,000 crore in Jharkhand over the next three years in capacity development of coal and iron ore mines and downstream value-added steel portfolio,”

Tata Steel Vice President – Corporate Services Chanakya Choudhary told PTI

Jharkhand Chief Minister Hemant Soren on Friday offered perks and benefits to major industrial players. Such as Tatas, Vedanta, SAIL, NTPC, and Maruti Suzuki to entice big-ticket investments. Also for establishing Jharkhand as a prominent center for the production of electric vehicles, among other things.

“During a one-on-one meeting with Tata Group officials, the Chief Minister questioned them why they couldn’t build an electric car manufacturing unit in the state,” a meeting official told PTI.

Ugersain Aasdev

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