Naveen Jindal plans Rs 70,000 investment in Jharkhand in steel, nuclear, RE space

New Delhi: Industrialist Naveen Jindal on Friday announced plans to invest over Rs 70,000 crore to set up steel, nuclear energy and renewable energy projects in Jharkhand.

The group has also signed an agreement in this regard with the government of Jharkhand, Jindal said in a video message.

"I am pleased to announce that the Naveen Jindal Group proposes to invest more than Rs 70,000 crore across steel, nuclear energy and renewable energy projects in the state," he said.

Follow The PSUWatch Channel on WhatsApp

The proposed investment includes Rs 40,000 crore in steel, strengthening Jharkhand's manufacturing ecosystem and creating around 10,000 direct employment opportunities, besides generating significant opportunities for MSMEs, downstream industries and local entrepreneurs.

The group also proposes to invest Rs 30,000 crore in nuclear energy. Reliable and affordable power is essential for sustained industrial growth. Nuclear energy will provide clean, dependable, round-the-clock power, create highly skilled employment and support the growth of future industries, including data centres and advanced manufacturing, Jindal said.

"In addition, we propose to invest Rs 650 crore in solar energy, supporting Jharkhand's clean energy ambitions," he stated.

Follow PSU Watch on LinkedIN

About the agreement with the Jharkhand government, the industrialist said the state has a strong industrial foundation. Its natural resources, skilled workforce, strategic location and entrepreneurial spirit make it an important destination for long-term investment. The investments will deepen the group's association with the state through this new commitment.

"These investments are expected to create more than 11,000 direct jobs, along with many thousands of indirect employment opportunities across construction, logistics, manufacturing, services and allied sectors. This investment reflects our confidence in Jharkhand's future. It will strengthen industrial capacity, expand employment opportunities and support the state's contribution to India's manufacturing and clean energy ambitions," he said.

(PSU Watch– India's Business News centre that places the spotlight on PSUs, Bureaucracy, Defence and Public Policy is now on Google News. Click here to follow. Also, join PSU Watch Channel in your Telegram. You may also follow us on Twitter here and stay updated.)