JIPB gets 27 investment proposals worth Rs.1 lakh cr

The Dollar Business Bureau

The government of Jharkhand organized the inaugural of Jharkhand Investment Promotion Board, chaired by Chief Minister Raghubar Das, in Mumbai. 

The JIPB will likely include ten representatives from the industry, who will be elected by the government with focus onto the areas of automobiles, information technology, energy, food processing, tourism, education, infrastructure development and healthcare.

The state government has already received 27 investment proposals ranging from the sectors of agriculture, food processing, mining, power, healthcare, education and tourism. The 27 proposals are worth Rs.1 lakh crore.

The investors inclusive of industry giants like Essar, Tata Steel, Adani, JSW, NTPC, SAIL and NDMC. Of late, the government beefed up the efforts to project Jharkhand as investment hub of eastern India.

Jharkhand CM Das, who is responsible for industries department, said that they are quite enthusiastic about the achievement by introducing Business Reforms Desirables of DIPP. The board called upon the representatives of the industry to consider such systems in straight and frank manner to remove the discrepancies and make the system more robust and responsive.

Das revealed that Adani Group initiated the procedure to develop power project of 1600 MW. He further stated that Adani expressed its willingness to invest 50,000 cr for development of Jharkhand.

Many industrialists including Sajjan Jindal, Chairman and MD at JSW Steel, P K Singh, Chairman of SAIL, Rajeev Jhawar, MD of Usha Martin Ltd, Tom Albanese, CEO of Vedanta Resources, Anindya Sen, Director at IIM Ranchi, Derek Shah, Executive Vice-President of L&T ltd, T V Narendran, MD of Tata Steel Ltd, attended the JIPB inaugural meet.

‘Handbook for Shelf on Projects in the State of Jharkhand,’ a document comprising particulars of the main investible projects, was also released during the inaugural meeting.

The handbook will assist the prospective investors to understand the scope of wide opportunities in Jharkhand.