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Soren launches 2021 industrial policy: We’re trying to leverage Jharkhand’s infinite resources

Companies which have been already active in the state, such as Tata Steel, Dalmia Group, Steel Authority Limited of India, Adhunik Power and Prem Rubber Works, have given in writing their proposed investment in the coming three-four years.

By: Express News Service | New Delhi |
August 29, 2021 1:13:29 am
Tata Steel, Dalmia Group, Steel Authority Limited of India, Jharkhand, Jharkhand CM, Hemant Soren, SAIL, indian express, indian express newsJharkhand Chief Minister Hemant Soren (File)

The two-day Investor Summit held by the Jharkhand government here saw a proposed investment of over Rs 9,000 crore in the state, with the launch of the Jharkhand Industrial and Investment Promotion Policy (JIIPP) 2021.

Companies which have been already active in the state, such as Tata Steel, Dalmia Group, Steel Authority Limited of India (SAIL), Adhunik Power and Prem Rubber Works, have given in writing their proposed investment in the coming three-four years.

As per documents sent by the Chief Minister’s Office, Dalmia Group signed an MoU of Rs 500 crore to expand their cement plant and the proposed commencement of production will be March 2023.

The documents stated that Tata Steel has “expressed their intent” to invest Rs 3,000 crore over next three years with “expansion of capacities”’ of coal and iron ore mines and “downstream” value added steel portfolio.

SAIL, too, has expressed intent to invest Rs 4,000 crore in Gua Mines in West Singhbhum district for over a period of three years, as per the document. IT will upgrade Gua mines from 4 MT capacity to 10 MT capacity and install a pallet plant of 4 MT capacity. As per the press release issued by the state government, Adhunik Power will invest Rs 1,900 crore and another company Prem Rubber Works will also invest Rs 50 crore.

At the launch of the JIIPP 2021, Chief Minister Hemant Soren said, “The state government wants to move forward with the cooperation of the investors. We are trying to leverage the infinite resources which nature has gifted Jharkhand and walk the path of development. The government has stepped up and we will not stop here. From the very beginning, the state government has been deliberating upon how to generate employment in Jharkhand. Our focus largely revolved around industries based on mines and minerals … but we are now also working in the field of tourism, education, renewable energy, food processing, automobile, pharma and textile.”

He added that in renewable energy, the state is coming up with a “big project” and planning to establish India’s “largest floating solar plant”, and emphasised that Jharkhand also has potential in tourism, pharma, educational institutes among others.

Soren said these investments in the coming months will lead to around 20,000 direct and around 1.5 lakh indirect employment. “All potential investors who would commit to engage 35 per cent of their workforce from scheduled tribe/scheduled caste communities will be incentivised over and above the existing provisions of the new JIIPP 2021.” he added.

During the event, Jharkhand Chief Secretary Sukhdev Singh said, “Our human capital is very healthy and very law-abiding. You will never have to face labour unrest in Jharkhand. We have a very good law and order situation. You will never hear of any organised extortion gang. Even Naxalism has shrunk to a few remote pockets of Jharkhand and it is likely to be eliminated from the geography of Jharkhand in a couple of months. Jharkhand invites you, invites you with open arms.” He added that seven bureaucrats travelled to Delhi from Ranchi to “solicit and woo” investors.

“It’s a beautiful state with a beautiful landscape. It is a state with a vast range of flora and fauna. Thirty per cent of our land is covered with forest, with such vast production of minor forest produce that it is a paradise for anyone interested in the agro-food processing industry,” the Chief Secretary further said.

Jharkhand Industries Secretary Pooja Singhal said the state has prepared a Single Window Clearance Policy in various sectors to invite investors. She said the state government has a “land bank of 1,000 acres” for setting up industries, and threw light on various aspects related to why investors should invest in Jharkhand. She also talked about the JIIPP 2021, ethanol policy, road connectivity, electric vehicle policy, Adityapur Cluster through a presentation.

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