The Jharkhand government and Tata Steel signed a Letter of Intent (LoI) and Memorandum of Understanding (MoU) at the World Economic Forum in Davos for an investment of over Rs 11,100 crore in new-age green steel technologies in the State.
The agreement, signed in the presence of Chief Minister Hemant Soren, aims to support low-carbon industrial development, strengthen manufacturing infrastructure, and generate direct and indirect employment in Jharkhand.
According to officials, the proposed investment includes the deployment of advanced ironmaking technologies such as HISARNA and EASyMelt, with an estimated outlay of Rs 7,000 crore. HISARNA technology enables the use of domestic coal and low-grade iron ore while significantly reducing carbon emissions when combined with carbon capture systems. Following successful pilot trials in the Netherlands, Tata Steel plans to establish a commercial-scale facility of around one million tonnes per annum capacity at Jamshedpur by 2030.
The EASyMelt (Electrically Assisted Syngas Melter) technology, a first-of-its-kind global solution, is designed to reduce coke consumption through the use of syngas, potentially lowering carbon dioxide emissions by up to 50 per cent.
In addition, the investment package includes Rs 1,500 crore for setting up a modern Combi Mill and Rs 2,600 crore for the expansion of tinplate manufacturing facilities. Officials said these initiatives are expected to enhance Jharkhand’s industrial ecosystem and improve long-term competitiveness in a decarbonising global economy.
The agreement was signed on the sidelines of the World Economic Forum, where the Chief Minister is participating in meetings with global industry leaders and investors.
During the interaction, Tata Steel Managing Director and Chief Executive Officer T V Narendran said Jharkhand has been making steady progress in education, manufacturing, and mining, and should continue engaging with global business platforms to attract future investments.
The Chief Minister proposed industry support for upgrading Industrial Training Institutes (ITIs) in the State to improve employability and align training with market needs. Tata Steel expressed willingness to support the initiative under its corporate social responsibility programmes.
As Jharkhand marks 25 years of its formation, officials said the agreement reflects the State’s efforts to transition from a mineral-based economy towards sustainable and technology-driven industrial growth. A separate MoU was also agreed upon to promote industrial tourism at Tata Group–associated mining and manufacturing sites in Jharkhand.