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Government of Jharkhand and Tata Steel Launch Health Insurance Scheme for the State Jamshedpur Land Lease Resolved

Ranchi, August 20, 2005

The State Government has renewed the Jamshedpur Land Lease Agreement for a period of 30 years with effect from 1st January, 1996 on the same terms and conditions contained in the earlier lease document. The Jamshedpur Land Lease Agreement was signed today by Mr P P Sharma, Chief, Secretary, Government of Jharkhand on behalf of the State Government and Mr B Muthuraman, Managing Director, Tata Steel in the presence of Shri Arjun Munda, Hon’ble Chief Minister of Jharkhand and Mr Ratan Tata, Chairman, Tata Sons Limited. At the historic function a MoU was also signed to launch the State’s unique Health Insurance Scheme for those living the Below the Poverty Line (BPL). The initiative will forge a new partnership between the Government of Jharkhand and the country’s most modern steel plant, Tata Steel, as it will address the critical issue of the health of the poorest of the poor in the State. The State and Tata Steel will jointly fund a 50% scheme which will enable every member of the ‘BPL’ families of the State to avail of medical care. The scheme will be effective for a period of thirty years.

Tata Steel has since its inception believed that the ‘community’ is the purpose of an enterprise. Tata Steel, over the nearly-century old-partnership with the State, has set sustainability standards that do not have a match in the world. The growth of the steel plant in terms of technology and profitability over the years has always been matched by sustainable corporate welfare measures designed to “improve the quality of life” of the communities it serves. Through its dedicated agencies, the Company, with the support of the State Government, runs programmes on income generation, environment, civic amenities, education, health and hygiene, sports and culture, and relief and rehabilitation. This has resulted in better growth indices for the city of Jamshedpur and its collieries and iron ore mines, which have a very sizeable tribal population.

Tata Steel’s partnership with the Government of Jharkhand has yielded rich dividends in the preservation and promotion of indigenous art and culture and sports. Tata Steel at its excellent sports centres such as the JRD Tata Sports Complex, Football Academy, Archery Academy and Athletics Academy has nurtured and created opportunities for the talented youth of Jharkhand – a pre-dominantly tribal heartland - to participate in national and international arenas. This will enable the State to host important sports events and provide more opportunities for the local youth to pursue sports more professionally.