Tinplate and the Government of Jharkhand signs MoU for industrial advancement
The Tinplate Company of India Limited (TCIL), a subsidiary of Tata Steel, reinforces its dedication to fostering economic growth in Jharkhand through the formalization of a Memorandum of Understanding (MoU) with the Government of Jharkhand. This agreement aligns with the state's focus on generating employment opportunities as outlined in the Jharkhand Industrial and Investment Promotion Policy 2021. The MoU was officially signed during an event in Ranchi, involving R N Murthy, Managing Director of TCIL, and Shri Jitendra Kumar Singh, IAS, Secretary-Industries, Government of Jharkhand.
This significant Memorandum of Understanding marks the inception of an advanced manufacturing facility in Jamshedpur with a production capacity of 300,000 Tons per Annum (TPA), supported by an investment of around Rs 1,787 crore. Expected to be operational by 2026, this expansion initiative is projected to create more than 600 direct and indirect job opportunities. The state-of-the-art facility will not only upgrade Tinplate's manufacturing capabilities through cutting-edge technology and automation but will also make substantial contributions to both domestic and international markets, thereby strengthening the industrial growth of the state.
R N Murthy, the Managing Director of TCIL, conveyed his satisfaction with the expansion, underscoring the company's unwavering commitment to the economic and social progress of Jamshedpur and Jharkhand. Murthy affirmed, "Our dedication involves collaborating with the Jharkhand Government and local communities to foster economic and social advancement, encompassing the creation of jobs, augmented revenue, and skill development prospects for the local workforce. We extend our gratitude to the Jharkhand Government for their wholehearted support".
TCIL's primary products, Tinplate and Tin Free Steel, function as versatile packaging materials utilized across various industries. With a focus on serving sectors like Edible Oils, Paints & Pesticides, Processed Foods, Battery & Aerosols, and bottle crown manufacturing, TCIL plays a crucial role in India's domestic tinplate market, presently commanding a market share exceeding 45%. Furthermore, around a quarter of TCIL's sales contribute to its global presence in South-East Asia, the Middle East, and specific regions in Europe. Established in 1920, TCIL is continuously evolving, aligning its growth strategy with Tata Steel's vision for sustainable development and environmental responsibility.
