Vedanta to set up steel plant in Jharkhand in JV with JSMDC

26 June 2017

A steel plant would soon come up at Manoharpur in West Singhbhum district, said Jharkhand Chief Minister Raghubar Das.  The Vedanta group and Jharkhand Mineral Development Corporation (JSMDC) would jointly set up the plant.

“Rs 700 crore of the total MoU signed with prospective investors have already been implemented on the ground and project proposals worth Rs 15 to 16,000 crore will be effective in July,” Das told a press conference here.

The steel plant of West Singhbhum district is one of such projects.

Claiming that investors were being attracted towards the mineral-rich state, the chief minister said that the state government had signed Rs 3 lakh crore worth of long-term and mid-term MoUs with the investors during the Momentum Jharkhand investors meet in February.

Priority would be given to mid-term MoUs that could start production within three years of implementation and generate employment, he said.

Source: Economic Times