The country’s leading steel company Tata Steel has announced a big investment for Jharkhand. The company will invest around ₹10,000 crore in the state by the year 2028. This investment will not only increase steel production capacity but will also create about 2000 direct and indirect jobs. The company says that this investment will further strengthen Jharkhand as a major industrial center of the country.
According to Tata Steel, of the total investment, ₹7,000 crore will be spent on Hisarna and Easy Melting Technology projects. Apart from this, there will be an investment of ₹2,600 crore on the expansion of tinplate division and ₹1,500 crore on the combi mill project. These projects will promote modern and environment-friendly steel production.
New technology will reduce pollution and costs
Hisarna technology is Tata Steel’s patented low-carbon iron making technology. Its biggest feature is that it does not require traditional coke, sinter and pellet plants. This reduces carbon emissions by about 20 percent. Also, better utilization of coking coal available in India will reduce dependence on imports and will also reduce production costs.
One million ton pilot plant to be built in Jamshedpur
The company said that Hisarna Pilot Plant with 10 lakh tonne capacity will be set up in Jamshedpur. Its engineering study has started. The hot metal produced here will be used in the steel melt shops of Jamshedpur. This will make the production process more modern and energy efficient.
Target to increase steel production capacity
Currently, Tata Steel has a steel production capacity of 27.35 million tonnes per annum (MTPA) in India. The company wants to increase it to 40 MTPA. In the long term the company aims to achieve a production capacity of more than 50 million tonnes. The bulk of this expansion will take place in India, especially Jharkhand and Odisha.
Jharkhand’s economy will benefit
Experts believe that this investment will accelerate industrial activities in Jharkhand, create new employment opportunities for local youth and also strengthen the economy of the state. Additionally, adopting new environment-friendly technologies will also help in making India’s steel sector globally competitive.
Also read- This TATA company announced salary hike, average salary increased by 5%; But some employees got a big shock!
