Tata Steel will invest Rs 11,000 crore in Jharkhand for developing advanced grade steel at its Jamsehdpur facility, Tata Group Chairman N Chandrasekaran said on Monday.
The technology developed by the Tata Group for advanced steel production will benefit other steelmakers, too, he said.
"Tata Steel will invest Rs 11,000 crore in Jharkhand for developing advanced green steel technology, pioneered by it with low carbon production... It will make the steel process faster and reduce carbon emission," Chandrasekaran said, sharing the stage with CEO T V Narendran and Chief Minister Hemant Soren.
The steel major has pioneered and developed the technology, and its first investment will be in Jamshedpur, he said.
"It is a very important project for Tata Steel's footprint globally, and this technology will also benefit other steel companies," Chandrasekaran said.
Following successful pilot trials in the Netherlands, Tata Steel plans to establish a commercial-scale facility of around 1 million tonnes per annum capacity in Jamshedpur by 2030.
Besides, Tata Motors will also invest in hydrogen trucks at the Jamshedpur facility, he said.
"Tata Motors' investment in hydrogen trucks is strategically important, the scope of which is significant for domestic and global players," Chandrasekaran said.
He also said 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”.
Chandrasekaran said he had a two-hour long meeting with the CM, where Tata Group officials discussed plans for development of the state, from where Tata Steel began its journey and expanded globally.
"We feel at home in Jharkhand. We have a large steel plant here besides Tata Motors," he said.
"We want to partner with the state in many initiatives. Wherever we can we want to contribute for its development. Definitely, we want to open some hotels in the state. We are looking at Ranchi first, and then other locations," the top company official said.
He said a lot of work needs to be done in the skill development sector, as the state has ambitious plans.
"We will definitely partner with the state in upgrading and creating new skills at a much larger scale. We will also increase our CSR footprint in Jharkhand,” Chandrasekaran said.
Chief Minister Soren said he had a fruitful meeting with Chandrasekaran.
"Had a constructive meeting with Shri N Chandrasekaran, Chairman of the Tata Group, to further strengthen our enduring parternship. We discussed aligning our shared efforts with Jharkhand's long-term development aspirations and Vision 2050 - focused on sustainable growth, knowledge economy, innovation-led progress and inclusive transformation," Soren posted on X.
Earlier, the state government and Tata Steel had signed a Letter of Intent (LoI) and an MoU on the sidelines of the World Economic Forum (WEF), Davos, for investment of over Rs 11,000 crore in ‘New Age Green Steel Technologies', aimed at supporting India's transition towards low-carbon, environmentally responsible industrial growth, while generating substantial direct and indirect employment opportunities.
The partnership will bring advanced green steel technologies from the Netherlands and Germany to Jharkhand, positioning the state as a key contributor to the global shift towards sustainable manufacturing, officials said.
"A major component of the proposed investment involves deploying HISARNA and EASyMelt ironmaking technologies, with an estimated investment of Rs 7,000 crore. The HISARNA technology enables the use of domestic coal and low-grade iron ore, thereby reducing dependence on imported raw materials and improving cost efficiency. When integrated with carbon capture and storage solutions, the technology has the potential to reduce carbon dioxide emissions by up to 80 per cent," an official said.
The EASyMelt (Electrically Assisted Syngas Melter) technology, a first-of-its-kind global solution, is designed to enhance the sustainability of conventional blast furnace operations. By reducing coke consumption through the use of syngas, it can lower carbon emissions by up to 50 per cent, he said.
In addition to ironmaking technologies, the investment package includes Rs 1,500 crore for the establishment of a modern Combi Mill and Rs 2,600 crore for the expansion of Tinplate facilities.
These initiatives are intended to strengthen Jharkhand's industrial ecosystem, support high-skilled employment, and enhance long-term competitiveness in a decarbonising global economy, the official said, adding, collectively, these projects position Jharkhand and Tata Steel among the early adopters of large-scale green ironmaking technologies.
As Jharkhand marks 25 years of its formation, the agreement represents a milestone in the state's evolving industrial trajectory, he said.
(This story has not been edited by NDTV staff and is auto-generated from a syndicated feed.)
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