Ground-breaking for 21 projects worth Rs 700 cr

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Ranchi: The Jharkhand government today organized a ground-breaking ceremony at Hotwar in Ranchi to lay foundation for 21 projects that are expected to attract Rs 700-crore investments and create 21,000 direct jobs and also promised speedy approvals for new businesses.

The Momentum Jharkhand: Global Investors Summit (GIS) in February in the state saw signing of 210 memoranda of understanding (MoUs) worth Rs 3.1 lakh crore between investors and the state government.

Speaking on this occasion after laying the foundation stone, Chief Minister Raghubar Das said, “The ground-breaking ceremony marks the successful culmination of the Jharkhand government’s efforts in attracting national and international investors and then driving speedy due diligence and approvals within the shortest possible time-frame.”

“The 21 projects underway will have an estimated direct investment inflow of more than Rs 700 crore and the potential of generating 21,000-plus direct jobs,” said the CM.

This also marks the beginning of a new era in sustainable development that will broad-base the state’s industry segments, while creating income-generating opportunities and employment avenues for the local people, he said.

“The speed with which clearances to the said projects were granted is testimony to the Jharkhand government’s resolve in making our state the most-preferred investment destination in the country,” he added.

The summit had attracted investors from across the world including nations such as Russia, Korea, Belarus, China and others.

In turn, the multiplier effect would be generating indirect employment in excess of 50,000 and ensuring a manifold increase in income for SMEs (small and medium enterprises) in Jharkhand.

Apart from 21 projects, three other projects were inaugurated by the CM during the ground-breaking organised by the Department of Industries today.

The 21 projects pertain to 19 corporate entities from across the country, representing eight industry segments, including textiles, food & food processing, pharmaceuticals, waste management, health, footwear, warehousing & logistics, among others.

Some leading corporate houses promoting these projects are Orient Craft, Shahi Exports, Kaveri Agri Warehousing, Dev Aahar Food Industries, Shaw Pharma, Matrix Clothing, Pragati Beverages and Thriveni Apparels.

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