Davos/Ranchi, Jan 20: India’s Jharkhand state and Tata Steel have signed agreements at the World Economic Forum in Davos for investments of Rs 11,100 crore ($1.3 billion) in green steel technologies, aiming to cut carbon emissions and strengthen the state’s industrial base, the state government said on Tuesday.
The agreements include a letter of intent and a memorandum of understanding covering next-generation ironmaking technologies, industrial infrastructure and employment creation. Tata Steel plans to invest about Rs 7,000 crore in advanced ironmaking processes, including HISARNA and EASyMelt, which are designed to significantly reduce carbon emissions in steel production.
HISARNA technology allows the use of indigenous coal and low-grade iron ore, potentially cutting carbon dioxide emissions by up to 80% with carbon capture, while reducing dependence on imported raw materials. Tata Steel aims to set up a 1 million tonne-per-year commercial plant in Jamshedpur by 2030. EASyMelt, described as the world’s first of its kind, uses syngas to lower coke consumption and may reduce emissions by up to 50%.
Additional investments include Rs 1,500 crore for a combi mill and Rs 2,600 crore for tinplate expansion.
Tata Steel Managing Director and CEO T.V. Narendran said Jharkhand was making rapid progress in education, manufacturing and mining, and should continue engaging with global business forums.
Chief Minister Hemant Soren said the projects underscored the state’s shift from a mineral-based economy towards green innovation as it marks 25 years of statehood.
