TCIL to invest over Rs 1,785 cr for setting up manufacturing facility in Jamshedpur
Tata Steel, on Friday said it will invest Rs 1,787 crore for setting up a 3-lakh-tonnes-per-annum manufacturing facility in Jharkhand's Jamshedpur. The facility, an expansion project, is scheduled for commissioning in 2026, and is likely to generate about 600 direct and indirect employment opportunities, TCIL said.
A pact was inked between the company and the Jharkhand government in this regard at a ceremony to mark the completion of four years of the JMM-led government in the state.
"… This landmark MoU heralds the establishment of a cutting-edge 300,000 Tons per Annum (TPA) manufacturing facility in Jamshedpur, backed by an investment of approximately Rs 1,787 crore," TCIL said in a statement.
The facility will not only enhance Tinplate's manufacturing capabilities with advanced technology and automation, but also contribute significantly to both domestic and export markets, bolstering the state's industrial growth, it said.
«We are committed to partnering with the Jharkhand Government and local communities to promote economic and social development, including job creation, increased revenue, and skill development opportunities for the local workforce,» said R N Murthy, Managing Director of TCIL.
Tinplate and Tin Free Steel, TCIL's key product offerings, serve as packaging substrates for a range of industries, catering to segments such as edible oils, paints & pesticides, processed foods, battery and aerosols, and bottle crowns manufacturers.
Chief Minister Hemant Soren had in April taken part in the groundbreaking rituals for TCIL's expansion project in Jamshedpur.
