Tata Steel to invest ₹11,000 crore in Jharkhand, says Chandrasekaran

Tata Motors to make new investment in hydrogen truck at Jharkhand's Jamshedpur facility, he added

Tata Steel will invest ₹11,000 crore in Jharkhand for developing advanced-grade steel at its Jamshedpur facility, Tata Group Chairman N Chandrasekaran said on Monday.

 

Chandrasekaran was speaking in the presence of CEO T V Narendran and Jharkhand Chief Minister Hemant Soren.

 

“Tata Steel will invest ₹11,000 crore in Jharkhand for developing advanced green steel technology, pioneered by it with low-carbon production,” he said.

 

The technology developed by the Tata Group for advanced steel production will benefit other steelmakers, too, he said.

 

He said that Tata Motors will also invest in hydrogen trucks at the Jamshedpur facility.

 

 

“Tata Motors’ investment in hydrogen trucks is strategically important, the scope of which is significant for domestic and global players,” the Tata Group chairman said.

 

He added that the Tata Group will form an experts’ panel to explore investment in various sectors for the development of Jharkhand, “as suggested by the chief minister”.