Jharkhand attracts Rs 62k crore investment at Make in India Week

The state has signed MoU worth Rs 50,000 crore with Adani Group

Jharkhand government today said it has secured Rs 62,000 crore worth of investment commitments with large corporates such as Adani and Vedanta evincing interests in power, fertiliser, steel and chemicals.

"We have signed Memorandum of Understanding (MoUs) worth Rs 50,000 crore with Adani Group for setting up of thermal power plant and fertiliser manufacturing unit," Jharkhand Chief Minister Raghubar Das told reporters here on the sidelines of 'Make in India Week' here.

"We have also signed a Rs 2,000 crore pact with the Vedanta as well as received 11 letters of intent worth Rs 10,000 crore from companies in sectors like chemicals, IT, textiles and constructions," Das said.

The state has signed an agreement worth Rs 15,000 crore with the Gautam Adani-led group to set up a thermal power plant with a total capacity of 1,600 mega watt energy that will be supplied to Bangladesh Grid.

The rest Rs 35,000 crore will be invested for setting up a unit that will produce coal-based methane fertiliser.

Das said Jharkhand, with 40 per cent mineral base of the country, is the only state that has both coal and iron ore deposits.

"We are on the path of becoming a developed state from a developing one in the next four years. For this, we are focusing on developing industry, agriculture, IT and tourism sectors, which are also very high employment generating sectors," he said.

The chief minister also assured investors of a secured environment.

The state, he said, which was ranked number 29 in ease of doing business, has improved to number 3 in the last 13 month since the BJP government took charge.

"Besides the usual incentives, which are at par with other states, we have also introduced single-window system for speedy clearance of projects," Das said.

"When we took charge of the government 13 months back, Jharkhand was at 29th position in ease of doing business list by World Bank-DIPP study. We have improved this to number 3 in just 13 months," he said.

Jharkhand, which is also focusing on infrastructure and roads, is planning to provide 24x7 power supply by 2018, Das said, adding that the state will provide solar power to 400 tribal villages and towns by December this year.