Considerable number of business houses invited to attend the two-day investment extravaganza have already their footprints in Jharkhand, no matter which stages their projects are over the period of time. The business houses are now looking at the Global Investors’ Summit with handful of their concerns along with aspirations.
Essar Power is a big name in the State in the field of power generation as its Tori power house of 1800 MW capacity is nearly half done long ago. The company has recently reset its commissioning target to 2019 due to string of concerns starting with coal block.
“We have strong presence in Jharkhand and the plant is at very advanced stage. But after de-allocation of coal block we are stuck. Now we are looking at the GIS when the role of the State Government in augmenting coal linkage or allocating other coal block would be explored. Much depends on Central Government’s policy about swapping of coal intra-firm and about e-auction of coal,” said a senior official of Essar whose top bosses Prashant Ruia and Sashi Ruia would be present during the Summit.
The multinational firm has Tokisud coal block allocated in the State but that is not for the Tori power plant. The company needs about 6 MT of coal to fire the plant on which till date over Rs4,500 crore has already been invested. “It is sure that we are going ahead with our project at any cost in the State and awaiting certain policy decisions to be taken which, I believe, may be deliberated during the GIS. Chances are also that any new project or revision of the MoU would come-up here,” said he.
Whereas Adani Group is looking forward to its coal-to-polygeneration, besides its 1600 MW Godda power plant. “We would utilise this forum to make the government understand that only power generation from coal is not sustainable for future. There are other means such as solar, wind, geothermal to generate power but we need specifically coal for chemicals. We are ready with presentation that the country and the State need freedom from importing chemicals and coal-to-polygeneration is the solution to that. Our stage-I MoU for this has already been done but need some more time for the stage-II. We would be looking primarily during the GIS about making our projects secured in the State,” said Rajesh Jha, company’s CEO for its Coal to liquid project.
The idea is to convert coal-got linkage with JSMDC for the supply-into fabric, urea, ammonia, methanol etc. About 45 MT coal would be used inthe process every year and the corporate major would be investing in the tune of Rs50,000 crore with tentative operation in five years time.
At the same time there are firms wary about land issues along with mines allocation. “Forest and environment clearance for Ankua iron ore mine located in Saranda area is hanging fire at MoEF for clearance. lease is yet to be done. We want that the State Government come clean with its mining and mineral policy during the GIS,” said a top official of JSW Steel.
The firm has inked MoU way back in 2005 for setting up 300 MT steel plant located at Sonahatu, near Ranchi. As of now the company has been successful in acquiring 1,000 acre land which would only meet its 30 per cent requirement. JSW chairman Sajjan Jindal was to represent the firm in the Summit but sources confirmed that Biswadip Gupta, president corporate affairs, would remain present.
Jindal Steel and Power limited is particularly worried about its projects in the State since Jitpur coal block got de-allocated and proposed Godda power plant is heading for nowhere in the want of land.