The State Government and Adani Group on Wednesday signed memorandum of understanding for investment of Rs 15,000-crore in Jharkhand to set up a 1,600 MW capacity thermal power plant. The MoU was signed between Chief Minister Raghubar Das and Managing Director of Adani Group Rajesh Adani during the ‘Jharkhand Investor Summit’ at the ‘Make In India’ event in Mumbai. The proposed plants will be set up in Godda and Sahibganj districts of the state.
The Adani group would set up 2X800 MW of thermal power plant besides 1,000 MW of solar power plant in the State.
Sources said the State Government expects flow of investment of over Rs 62,000-crore under various “Make in India” projects of which the biggest investment has been confirmed by the Adani Group which is likely to pump Rs 50,000-crore for power and fertiliser manufacturing plant in the State. Moreover, the state is also getting an investment of Rs 2,000-crore from Vedanta group to set up a steel plant.
later in the summit, Das reached out to the investors assembled at the ‘Make in India Week’ and invited them to ‘Global Investor Summit’ that is likely to kick off in November this year in Ranchi. Das requested investors to take interest in Jharkhand as he stated from the platform of ‘Jharkhand Investor Summit’ organised today in the ongoing event at Mumbai that the State is ready with environment conducive for investment.
Das apprised attendees about various measures taken by the State Government to infuse confidence among investors as he also shared a list of achievements of significance for investors that makes Jharkhand suitable for long term investment.
While inviting corporate entities to the planned summit Das said, “Jharkhand’s natural beauty, abundant resources, committed bureaucracy and skilled labour will be ready to welcome investors in the event”.
Das informed investors about sectors that present ample opportunity for investment and the State government’s initiatives taken during last one year to improve on key areas that put the eastern state among destinations worth exploring for business prospects. He expressed that the State is committed to march ahead with the idea of ‘Make In Jharkhand’ patterned on the concept of ‘Make In India’.
Das said “In last one year Jharkhand has created a new environment and prepared itself according to the ‘Make In India’ programme started by Prime Minister Narendra Modi. It is because of this World Bank has given Jharkhand rank among three best places for ease of doing business” and ease of doing business is one time initiative taken under the ‘Make In India’ programme by the State government.
Das expressed that the natural resources, skill manpower, industrial climate besides, an active and positive system of governance are blessings for the State and these things will help in opening new avenues of employment. In his address, the CM encouraged investors to participate in the success story of Jharkhand and people of the State present a big market for their products. He drew attention towards tourism, agriculture, horticulture, services industry, education, insurance, medicine, information technology and other sectors which have not been explored yet by investors. He assured people who attended the ‘Jharkhand Investor Summit’ that assets would be arranged by various industrial development authorities in industrial areas.
The CM, while addressing the investors, apprised them about availability of basic infrastructures, power, water and land, labour and promised special package for keen investors.
The CM, principal secretaries and secretaries of all departments attended the programme to communicate state’s readiness to offer a complete and secure climate to investors.
Meanwhile, Jharkhand industry department has also received 11 letters of intent from different companies committing an investment of Rs 10,000-crore, in Chemical, IT, textile, and construction sectors.
A panel discussion was also held on the theme of ‘Advantage Jharkhand’ and the panellists included Tata Steel MD, TV Narendran; Plant Head of Tata Motors, AB lal; MD of Timken, Sanjay Kaul; MD of Mandhana Group, Manish Mandhana; CMD of HEC, Abhijeet Ghosh; CMD of CCl, Gopal Singh, Divisional Chief Executive (Food) of ITDC, Vl Rajesh; Chairman of MECON, AK Tyagi; Chief Marketing Officer of Carnival Group, Saurav Saxena and Chairman of Pan IIT Alumni Reach for India, Hari Padmabhan. The panel discussion focused on single window system, improving law and order situation besides industrial policy which was praised as investor friendly by the panelists.