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In WEF, Davos, Jharkhand government signs a MoU with Tata Steel of over ₹11,000 crore
In WEF, Davos, Jharkhand government signs a MoU with Tata Steel of over ₹11,000 crore
On the sidelines of the World Economic Forum (WEF) annual meeting in Davos, Jharkhand government and Tata Steel Limited on Tuesday (January 20, 2026) signed a Letter of Intent (LoI) and Memorandum of Understanding (MoU).
The agreement outlines a proposed investment of over ₹11,000 crore in New Age Green Steel Technologies, aimed at supporting India's transition towards low-carbon, environmentally responsible industrial growth while generating substantial direct and indirect employment opportunities in the State.
Read: World Economic Forum 2026 Day 2 LIVE
As per the information shared by the Jharkhand Chief Minister's Office, the partnership will bring advanced green steel technologies from the Netherlands and Germany to Jharkhand, positioning the State as a key contributor to the global shift towards sustainable manufacturing.
The meeting was attended by T.V. Narendran, managing director & CEO, Tata Steel, along with senior members of the Tata Steel delegation. Tata Steel also plans to establish a commercial-scale facility of approximately 1 million tonnes per annum capacity in Jamshedpur by 2030.
As Jharkhand marks 25 years of its formation, the agreement represents a milestone in the State's evolving industrial trajectory.
“Under the leadership of Chief Minister Hemant Soren, Jharkhand is progressing from a mineral-based economy towards becoming a hub for sustainable and future-ready industrial development. In this context, a separate MoU was also agreed upon between the Government of Jharkhand and Tata Steel to promote industrial tourism at Tata Group–associated mining and manufacturing locations in the State,“ the press statement stated.
The official delegation of the Jharkhand government led by the Chief Minister also held a meeting with Bharat Kaushal, Regional Head, Hitachi, and senior representatives of the company.
The discussions focused on cooperation in the areas of power systems, power transmission, advanced infrastructure, and skill development.
Hitachi representatives informed that the power systems of nine metro rail networks currently operating in India are managed by Hitachi, highlighting the company's strong technological capabilities and experience in large-scale urban transport systems.
They also shared that Hitachi has developed a dedicated digital dashboard for power electronics, and noted that Hitachi already has a centre in Dhanbad, reflecting its continued engagement with Jharkhand.
“During the meeting, Mr. Kaushal extended a formal invitation to the Chief Minister to visit Hitachi's manufacturing unit. It was further proposed that joint meetings be organised during February–March with Hitachi's manufacturing units in India and Jharkhand, along with other Japanese companies, to deliberate on short-term and long-term projects and identify concrete areas of collaboration,“ it stated.
Welcoming the proposals, Mr. Soren asserted that the Government of Jharkhand is keen to deepen global technology partnerships in the areas of energy, infrastructure, and skill development to support sustainable, inclusive, and future-ready growth in the State.
It further stated, “In recognition of his leadership, WEF representatives honoured Mr. Soren with the prestigious White Badge which is conferred upon select global leaders worldwide and grants uniform access to the WEF Congress Centre and all WEF exclusive events, making it one of the highest distinctions accorded by the WEF to heads of States and governments.”
WEF representatives extended an invitation to Mr. Soren to visit the WEF site, and further conveyed that the WEF President is interested in engaging in future discussions to explore avenues for collaboration and partnership with Jharkhand.
Accompanied by wife and MLA Kalpana Murmu Soren and the official delegation also held an interaction with Sunita Rajan, managing director, Bloomberg Asia-Pacific.
Mr. Soren stated that Jharkhand, as a young State, has come to Davos for the first time with confidence in its capabilities, opportunities, and a clear vision for the future.
He emphasised that Jharkhand is no longer limited to a mineral-based economy, but is steadily emerging as a state focused on green industrial development, critical minerals, clean energy, human resource development, and inclusive economic growth.
Published - January 21, 2026 11:00 am IST
business (general) / Jharkhand / economy, business and finance
Source: TheHindu
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