Adani, Birla, Oth­ers Com­mit to In­vest 50k cr in Jhark­hand

The Economic Times - - Companies: Pursuit Of Profit - Rakhi.Mazum­dar @times­group.com

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.

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