Ranchi, March 2: Tata Steel will invest ₹11,000 crore in Jharkhand to develop advanced grade steel using low-carbon green steel technology at its facility in Jamshedpur, N. Chandrasekaran, Chairman of Tata Group, announced.
Chandrasekaran made the announcement in the presence of Tata Steel CEO T. V. Narendran and Chief Minister Hemant Soren, stating that the investment will focus on developing advanced green steel technology aimed at reducing carbon emissions in steel production.
“Tata Steel will invest ₹11,000 crore in Jharkhand for developing advanced green steel technology, pioneered by it with low carbon production,” Chandrasekaran said.
He added that the technology developed by the Tata Group for advanced steel production would also benefit other steelmakers.
In addition, Tata Motors will invest in hydrogen-powered truck technology at its Jamshedpur facility. Chandrasekaran described the initiative as strategically significant for both domestic and global markets.
“Tata Motors’ investment in hydrogen trucks is strategically important, the scope of which is significant for domestic and global players,” he said.
The Tata Group chairman also announced that the conglomerate would set up an expert panel to explore investment opportunities across multiple sectors in Jharkhand.
“The Tata Group will form an experts’ panel to explore investment in various sectors for the development of Jharkhand, as suggested by the chief minister,” Chandrasekaran said.
