Tata Steel and the Jharkhand government inked a Letter of Intent (LoI) and Memorandum of Understanding (MoU) at the World Economic Forum in Davos. The agreement outlines an investment exceeding Rs 11,100 crore focused on low-carbon industrial growth and modernizing manufacturing infrastructure in the state.

A major portion of the funding, approximately Rs 7,000 crore, targets the deployment of HISARNA and EASyMelt ironmaking technologies. HISARNA utilizes domestic coal and low-grade iron ore to cut carbon dioxide emissions, with a commercial-scale facility planned for Jamshedpur by 2030. Besides, the EASyMelt technology uses synthetic gas to reduce coke consumption, offering a potential 50% decrease in carbon dioxide output.

The package also allocates Rs 1,500 crore for a new Combi Mill and Rs 2,600 crore to expand tinplate production. These projects intend to strengthen the local industrial ecosystem and ensure long-term competitiveness as the global steel market moves toward decarbonization.