Jharkhand invites Chinese steel firm for investment

Wednesday, 18 October 2006, 07:00 Hrs
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Ranchi: Jharkhand state officials have invited a Chinese steel firm to explore investment opportunities in the state.

State officials met representatives of China-based steel firm Sinosteel last week in New Delhi and have invited them to explore possibilities of investing in the state.

"The industry department gave a presentation before Sinosteel officials in New Delhi and invited them for investment possibilities," said Rahul Purwar, director of the department.

"We have just invited the Chinese company to explore possibilities. The ultimate decision will be taken by the political leaders of the state," said a senior official of industry department.

Sinosteel has evinced interest in Jharkhand and said it would send a team to explore opportunities, the official added.

Chief Minister Madhu Koda had earlier announced that the Memorandums of Understanding (MoU) signed by his predecessor Arjun Munda would be reviewed.

Deputy Chief Minister Sudhir Mahto had recently stressed that the government would focus on the development of small and medium scale industries instead of mega projects that cause large-scale displacements.

The Arjun Munda government had signed MoUs worth over 2.2 trillion with 45 companies in the steel, mining, power and other sectors. The mega projects included steel units of Mittal, Tata, Essar and Jindal groups.

Source: IANS
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