Patna, July 31: The Bihar government on Thursday signed a Memorandum of Understanding (MoU) with the Mahashakti Group for the establishment of a Large Integrated Steel Project in Gaya district, entailing a proposed investment of ₹6,000 crore and aimed at accelerating the state’s industrial development.
The MoU was signed and exchanged in the presence of Chief Minister Samrat Chaudhary at the “Sankalp” auditorium in Patna, marking one of the state’s major industrial investment initiatives.
According to the government, the proposed steel plant will have an annual production capacity of 1.0 to 1.5 million tonnes (MTPA) and is expected to significantly strengthen Bihar’s position as an emerging industrial hub.
Officials said the project is likely to generate substantial direct and indirect employment opportunities while also promoting the growth of ancillary and small-scale industries, providing a major boost to the regional economy.
Addressing the gathering, Chief Minister Samrat Chaudhary said the state government is committed to creating an investor-friendly ecosystem through policy reforms and infrastructure development.
“The Bihar government is continuously working to create a conducive environment for industry in the state. Investors are being provided with improved infrastructure, transparent policies, and prompt administrative support,” the Chief Minister said.
He expressed confidence that the proposed steel plant would contribute significantly to employment generation and industrial expansion.
“The establishment of the steel plant will create a large number of direct and indirect employment opportunities and will boost ancillary and small-scale industries,” Chaudhary said.
The Chief Minister also said the project would be implemented within the stipulated timeframe through coordinated efforts of the Bihar Industrial Area Development Authority (BIADA), the Industries Department and the investor.
“With the joint efforts of BIADA, the Industries Department and investor institutions, this project will progress within the stipulated timeframe,” he said.
Describing the investment as a milestone for the state, Chaudhary added, “With this investment, a new chapter of industrial development will begin in Bihar and the state’s economy will get a new boost.”
Several senior government officials, including Chief Secretary Pratyay Amrit, Principal Secretary to the Chief Minister Deepak Kumar, Industries Department Secretary Kundan Kumar, Industries Department Director Mukul Kumar Gupta, and representatives of the Mahashakti Group, attended the MoU signing ceremony.
