The projects are expected to improve the region's industrial ecosystem

Indian steelmaker Tata Steel and the government of Jharkhand signed a letter of intent and memorandum of understanding at the World Economic Forum in Davos to invest more than 11.1 billion rupees ($1.2 billion) in cutting-edge green steel technology in the region. This was reported by The Statesman.

The proposed investments include the introduction of advanced iron production technologies such as HISARNA and EASyMelt. The former allows the use of local coal and low-grade iron ore, while significantly reducing carbon emissions in combination with carbon capture systems. Following successful pilot tests in the Netherlands, Tata Steel plans to build an industrial facility with a capacity of about 1 million tons per year in Jamshedpur by 2030.

EASyMelt technology, the first global solution of its kind, is designed to reduce coke consumption through the use of synthetic gas, potentially reducing carbon emissions by up to 50%.

In addition, the investment package for the state includes funds for the creation of a modern combined plant and the expansion of production capacity for tinplate. Officials said these initiatives are expected to improve the industrial ecosystem of Jharkhand state and enhance long-term competitiveness in a global economy undergoing decarbonization.

As a reminder, in December, Tata Steel’s board of directors made a number of decisions regarding future capital expenditures in the country. It plans to expand the capacity of Neelachal Ispat Nigam Ltd. (NINL) in Odisha by 4.8 million tons per year (first phase). This move will enable the company to increase its long-rolled product portfolio, especially in the highly profitable retail segment.

In addition, funds have been approved for design and engineering work to build a 2.5 million tonne per annum thin slab casting and rolling facility at the Tata Steel Meramandali steel plant in Odisha, and a hot-rolled pickling and galvanizing line with a capacity of 0.7 million tons per year at the existing cold rolling complex in Maharashtra.