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Jharkhand aims to become auto hub, top investment spot

Press Trust of India  |  Mumbai 

Mineral-rich is taking "unprecedented measures" to boost industrial growth and aims to become an automobile hub in the near future, Chief Minister Raghubar Das said today.

"My government is taking unprecedented measures to promote industrial growth in the state in order to establish as one of the prime investment destinations in the country.

"Today we launched policies to promote investments in agriculture, industrial, information technology, tourism, textiles, medical and entertainment sectors," he told PTI after launching a roadshow for an investor meet next year.

The Global Investors Summit 2017 will be held on February 16-17 in Ranchi to attract companies to set up ventures and infuse funds in the state.

"We see a lot of opportunities in automobile sector. The automobile and auto component policy aims to attract mega projects in the state, promote new auto-clusters and strengthen existing clusters.

"We plan to encourage establishment of facilities by tier I, II and III auto-component manufacturers to create direct and indirect employment opportunities and promote local entrepreneurship.

"We will identify and address the existing infrastructure gaps affecting the automobile and auto-component industry and augment talent pool to meet skill requirements of this industry," Das said.

The Chief Minister said he will meet top industrialists in Mumbai to seek investments.

has attracted investments of Rs 21,000 crore in the last 20-month period and hopes to get Rs 15,000 crore more after Adani Group's 1,600 MW power plant commences operation this month. The state will get 25 per cent power from the plant, while the rest will go to Bangladesh, he said.

Jharkhand has finalised a Rs 40,000 crore JV with public sector mineral producer NMDC to set up a 10 MT iron ore unit, for which 1,000 acres of land will be provided, he said.

He said Jharkhand, which came into existence in 2000, will auction 10 mines. Of these, two iron ore mines will be put on the block in the next three months. Bauxite and gold mines will be auctioned thereafter.

On other mega projects, Das said he will meet JSW Group Chairman Sajjan Jindal on Wednesday to discuss proposals of setting up steel, power and cement plants.

Jharkhand is moving fast towards realising its commitment to provide better infrastructure, rapid development and establishment of industrial base which would create employment opportunities for millions of youth, he said.

"We are focused on providing an enabling business environment and all necessary infrastructure for industries to bloom in the state," he added.

(This story has not been edited by Business Standard staff and is auto-generated from a syndicated feed.)

First Published: Tue, September 20 2016. 20:07 IST
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