Adani, Birla, Others Commit to Invest 50k cr in Jharkhand
Ranchi: Conglomerates such as the Adani Group, Vedanta, AV Birla Group and JSPL have committed nearly ₹ 50,000 crore of fresh investments in Jharkhand, as the state’s maiden investment summit, Momentum Jharkhand, got off to an encouraging start on Thursday. “The moment is now,” Ratan Tata told the gathering. Kumar Mangalam Birla said his AV Birla Group would invest ₹ 5,000 crore in the state out of which ₹ 1,500 crore had already been earmarked. He will send ₹ 750 crore for a 2.2-MT cement plant at Bokaro. The group promised to set up a 250-tonne-per-day caustic soda unit at a cost of ₹ 500 crore and invest ₹ 1,000 crore in telecom infra. Vedanta chairman Anil Agarwal said he would look at investments of around 5,000 crore, including in a unit in iron & steel. Rajesh Adani, MD of the Adani Group, said it will pump in Rs 15,000 crore in power projects in the state, while Adani Green Energy will put in another 3,000 crore to set up 500 MW of solar power projects, creating some 12,000 jobs over the next five years. In the mining sector, it is investing another ₹ 700 crore. Jindal of JSPL, which already invested ₹ 3,000 crore and has a presence in the state through its 1.6 MT unit. is planning to expand it to 6 MT capacity.