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Jharkhand Govt. signs MOU with Vedanta, CIL and Shree Cement

The Government of Jharkhand has  signed MoUs with three other companies for making huge investments in Jharkhand. While the one MoU with Coal India Limited (CIL) was signed on the opening day of the three-day show, the two others involving Mineral Exploration Corporation Ltd (MECL) and Shree Cement were signed on the concluding day on Wednesday.

The State Government has signed a Memorandum of Understanding (MoU) with Vedanta for setting up a steel plant

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The MoU with MECL is for undertaking mineral exploration to identify prospective mineral blocks, whereas Shree Cements would set up a cement plant in Jharkhand.

Informing this, Chief Secretary Rajbala Verma said that over 50 companies from different mining fields displayed their products during the three-day mining show which took place for the first time ever in the mineral rich State

“The show has indicated that the State would have to look at producing other chemicals such as ammonia, urea and methanol besides, traditional minerals like coal or iron ore. The investment coming in this field would improve the GDP of the State and people can generate greater level of income,” said the Chief Secretary on the concluding day of the show, which is planned to take place next year as well.

Urban Development and Housing Minister CP Singh, also present on the occasion, stressed over signing MoUs  for exploration.

“Lots of MoUs have been done for investment in the State and also during the Momentum Jharkhand. Now, there is a greater need to bring the agreements down on ground. The show is an important step in that direction since we have mines and minerals here, but the exploration was lacking. I hope that the event would pave the way in that direction now,” said the Minister.

Union Mines Secretary Arun Kumar lauded the growth trajectory of Jharkhand in the last three years. “Investors have shown greater interest in Jharkhand in the last three years. However, often allegations of illegal mining come to fore, so the Centre has now done technical changes in the allocations of mineral blocks. The state is going to be benefited with Rs 1.3 thousand crore auctions taken place in 2015 alone,” said Kumar urging the Government here to follow the same methodology for mining minerals.

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