 "Jharkhand Chief Minister Raghubar Das at Jharkhand Investor Summit during Make In India week in Mumbai (pic: Suryakant Niwate)")
The BJP-led government in Jharkhand on Wednesday signed memoranda of understanding (MoUs) worth Rs 62,000 crore.
Adani Group signed an MoU with the Jharkhand government for a total investment of Rs 50,000 crore. Of the Rs 50,000 crore, an investment of Rs 15,000 crore was proposed in setting up two thermal power plants. The rest would be invested to set up a unit that would produce coal-based methane fertiliser.
Further, the Vedanta group would invest Rs 2,000 crore in setting up a steel plant. The Jharkhand industry department has also received 11 letters of intent from various companies, committing an investment of Rs 10,000 crore in setting up units in the chemical, IT, textile and construction sectors. These MoUs were exchanged in the presence of Jharkhand Chief Minister Raghubar Das at a Make in India Week function in Mumbai. The state government also released a new industrial and investment promotion policy to ensure ease of doing business.
Das spelt out a slew of initiatives taken by the state government to invite investments. The government has reduced the frequency of inspection to once in five years.
Besides, factories and other establishments have to file just one return before the labour department annually. This number was earlier 36. We have really put an end to the inspector raj. 58 categories of industries have been exempted from the requirement of obtaining consents to establish and operate," he added.
Das said Tata Steel had agreed to augment steel production in the state by one million tonnes. The company currently produces 10 million tonnes of steel, which would be increased to 11 million tonnes.
Besides, the factories and other establishments have to file just one return before the labour department annually. This number was earlier 36. We have really put an end to inspector raj. 58 categories of industries have been exempted from the requirements of obtaining consents to operate and establish," he added.
Das said the Tata Steel has agreed to augment steel production in the state by one million ton. The company currently produces 10 million ton steel which would be increased to 11 million ton.
