Tata Steel to invest Rs 11,000 cr in Jharkhand for developing advanced grade steel

Ranchi, Mar 2 (PTI) Tata Steel will invest Rs 11,000 crore in Jharkhand for developing advanced grade steel at its Jamsehdpur facility, Tata Group Chairman N Chandrasekaran said on Monday.

The technology developed by the Tata Group for advanced steel production will benefit other steelmakers, too, he said.

"Tata Steel will invest Rs 11,000 crore in Jharkhand for developing advanced green steel technology, pioneered by it with low carbon production," Chandrasekaran said, sharing the stage with CEO T V Narendran and Chief Minister Hemant Soren.

Besides, Tata Motors will also invest in hydrogen trucks at the Jamshedpur facility, he said.

"Tata Motors’ investment in hydrogen trucks is strategically important, the scope of which is significant for domestic and global players," Chandrasekaran said.

He also said 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”. PTI NAM/SAN RBT