Jharkhand, Adani Group sign MoU worth Rs.15,000 crore

The Jharkhand government and Adani Group on Wednesday signed an MoU for investment of Rs.15,000 crore in the state to set up a 1,600 MW capacity thermal power plant.

The MoU with Adani group was signed between Jharkhand Chief Minister Ragubar Das and Rajesh Adani, managing director, Adani Group during the Jharkhand Investors Summit at Make In India Week in Mumbai.

The Adani Group has entered into an agreement with Bangladesh Power Corporation to provide it energy and the proposed plants in Jharkhand will help the company to supply power to Bangladesh.

The proposed plants will be set up in Godda and Sahibganj districts of the state.

The Jharkhand government on Wednesday announced that it is expecting a total investment of over Rs.62,000 crore under various "Make in India" projects.

The biggest investment to the state has been committed by the Adani group which will pump in Rs.50,000 crore for power and fertiliser manufacturing plants.

The state is also getting an investment of Rs.2,000 crore from Vedanta group to set up a steel plant.

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, construction sectors.

"Jharkhand has huge locational and logistical advantages. It has been truly blessed by nature and it alone accounts for nearly 40 per cent of the country's mineral resources," Chief Minister Raghubar Das said, underlining the potentials of the state during the summit.

"It is the largest producer of iron ore, copper, mica and uranium. Thirty percent of country's proven coal reserves are in Jharkhand and it is the only state to have coking coal. No other state has such fabulous mineral wealth, in magnitude in scope, in range," the chief minister added.