Ranchi, Feb 06 : The Jharkhand government has garnered investment proposals worth ₹26,000 crore during the Bengal Global Business Summit (BGBS) held in Kolkata, with nearly half of the proposed investments targeted at the steel sector, officials said on Thursday.
Chief Minister Hemant Soren, accompanied by his wife and MLA Kalpana Soren, attended the eighth edition of the BGBS at the invitation of West Bengal Chief Minister Mamata Banerjee. The summit, a flagship event organized by the West Bengal government, saw participation from leading industrialists and policymakers across India and the globe.
“The Jharkhand government received investment proposals to the tune of ₹26,000 crore, having the potential of generating 15,000 jobs, during the ‘Advantage Jharkhand’ program held as part of the BGBS,” an official said. “Of these proposals, about half pertain to the steel sector.”
Key proposals in the steel sector include Supreme Metals Export Private Ltd’s ₹3,000 crore plan to establish a steel plant, creating an estimated 1,500 jobs. Voltox Rail Pvt Ltd has expressed interest in investing ₹4,000 crore in special steel manufacturing, a project likely to generate 2,000 jobs.
These two initiatives alone, if realized, have the potential to create 3,500 direct jobs, officials added.
Beyond steel, other significant investment plans include BMW Industries Ltd’s ₹1,100 crore proposal to set up a Cold Rolling Mill Plant, expected to generate 1,500 jobs. Rashmi Metaliks Ltd has committed to investing ₹3,800 crore, while SM Steel and Power Ltd plans a ₹2,800 crore power generation project, likely to create 1,600 jobs.
These projects are expected to enhance Jharkhand’s industrial landscape, particularly in steel production, power generation, and advanced manufacturing.
Chief Minister Hemant Soren took to X (formerly Twitter) to express his appreciation for Mamata Banerjee’s efforts in organizing the summit and inviting Jharkhand to participate. “I feel this is a new beginning in the country where one state is moving forward along with other states to strengthen the foundation of the country,” Soren said.
Highlighting the cultural and historical ties between Bengal and Jharkhand, Soren remarked, “There are so many similarities between the two states that it becomes difficult to understand what is the difference between Jharkhand and Bengal.
“He further emphasized Jharkhand’s potential across key sectors, including MSME, tourism, mining, solar energy, and textiles, and expressed his commitment to collaborate with Banerjee to boost economic development in Eastern India. “In the coming days, Jharkhand will make a meaningful effort to move forward with respected Mamata Didi to accelerate economic development in Eastern India,” Soren added.
Officials underscored the transformative potential of the investment proposals, which collectively aim to generate over 15,000 jobs across various sectors. The projects in the steel sector, power generation, and cold rolling mill production stand out for their significant contribution to employment creation.
The BGBS has positioned itself as a crucial platform for regional cooperation and economic advancement. Soren’s participation at the summit underscores Jharkhand’s commitment to fostering mutual growth with neighboring states.
“The summit highlighted the collaborative spirit between Bengal and Jharkhand, paving the way for enhanced industrial activity and regional development,” an official noted.
The prominence of steel-related projects reaffirms Jharkhand’s status as a hub for mineral and industrial development. The state, rich in mineral resources, has long been a key player in India’s steel production and allied industries.
By securing significant investments and reinforcing ties with Bengal, Jharkhand aims to boost its industrial base, generate employment, and contribute meaningfully to Eastern India’s economic growth.
The proposals, particularly in the steel sector, signify a major leap forward for Jharkhand, as the state seeks to balance industrial progress with inclusive development.
