The Government of Jharkhand and Tata Steel Limited today signed four separate Memorandums of Understanding (MoUs) on relating to the setting up new greenfield steel capacity and enhancement of capacity of the Jamshedpur Works as well as development of the State's skilled technical manpower.

The MoUs were signed in the presence of Shri Arjun Munda, Hon'ble Chief Minister of Jharkhand, Mr Ratan Tata, Chairman, Tata Sons Limited, Cabinet Ministers and other important government dignitaries and senior officials of Tata Steel at a function held at the Chief Ministers residence in Ranchi. The MoUs were signed by Mr. P P Sharma, Chief Secretary, Government of Jharkhand on behalf of the State Government and by Mr. B. Muthuraman, Managing Director, Tata Steel Limited.

According to the MoU, the 12 million tonnes per annum greenfield integrated steel plant will be set up in two phases. The first phase of 6 million tonnes per annum is likely to be setup within 36 months to 54 months from the date of obtaining all statutory clearances. The project will also include the development of iron ore mines and other raw materials sources including coal and logistic linkages for this plant.

The MoU for the expansion of the Jamshedpur works from the present 5 million tonnes per annum to 10 million tonnes per annum is also expected to be undertaken in two phases. The first phase of expansion to 7 million tonnes is already underway. The order for the key equipments has been placed and the current phase of the expansion is expected to be completed by 2008.

Government of Jharkhand and Tata Steel have also entered into two MOUs to cooperate in the filed of Human Resource Development with an objective to impart technical and job oriented training to the youth of the state through up gradation of polytechnics and Industrial Training Institutes through expert assistance. These initiatives in the field of human resources development will enhance the availability of skilled technical manpower in the State and will increase the employability of the youth of Jharkhand and bring them into the mainstream of industrial development of the state.

Speaking on the occasion, Mr. Muthuraman said, "We have been present in the State since our inception and the signing of these MoUs reaffirms our commitment towards the development of the State. The new integrated steel plant and the expansion of the Jamshedpur steel plant will give further impetus to the industrialization of the State. The MoU for cooperation in the field of Human Resource Development in the State and Tata Steel's commitment towards the State's unique Health Insurance Scheme for those living the Below the Poverty Line are in line with our belief that the 'community' is the purpose of an enterprise".

Established in 1907 by its Founder J N Tata, Tata Steel is the flagship of Tata Group, the most trusted corporate name in the country. It has one of the most modern steel making facilities and is also one of the lowest cost producers of steel in the world. It currently produces 5 million tonnes of steel per annum at its Jamshedpur plant and has recently invested in NatSteel Asia , which has a capacity of about 2 million tonnes per annum of finished steel. The steel company is focussed on the sophisticated automobile and the construction sectors. A benchmark in corporate social responsibility and corporate governance, it believes in improving the quality of life of its employees and the communities it serves.