On the sidelines of the World Economic Forum (WEF) annual meeting in Davos, Jharkhand government and Tata Steel Limited on Tuesday (January 20, 2026) signed a Letter of Intent (LoI) and Memorandum of Understanding (MoU).

The agreement outlines a proposed investment of over ₹11,000 crore in New Age Green Steel Technologies, aimed at supporting India’s transition towards low-carbon, environmentally responsible industrial growth while generating substantial direct and indirect employment opportunities in the State.

As per the information shared by the Jharkhand Chief Minister’s Office, the partnership will bring advanced green steel technologies from the Netherlands and Germany to Jharkhand, positioning the State as a key contributor to the global shift towards sustainable manufacturing.

The meeting was attended by T.V. Narendran, Managing Director & CEO, Tata Steel, along with senior members of the Tata Steel delegation. 

Reports claimed that Tata Steel also plans to establish a commercial-scale facility of approximately 1 million tonnes per annum capacity in Jamshedpur by 2030.

As Jharkhand completed 25 years of its formation in 2000, the agreement represents a forward journey toward industrialisation in the State’s evolving industrial trajectory.

“Under the leadership of Chief Minister Hemant Soren, Jharkhand is progressing from a mineral-based economy towards becoming a hub for sustainable and future-ready industrial development”, a report issued by the office of the CMO,claimed 

In this context, a separate MoU was also agreed upon between the Government of Jharkhand and Tata Steel to promote industrial tourism at Tata Group–associated mining and manufacturing locations in the State,“ the press statement stated.

The official delegation of the Jharkhand government led by the Chief Minister also held a meeting with Bharat Kaushal, Regional Head, Hitachi, and senior representatives of the company.

The discussions focused on cooperation in the areas of power systems, power transmission, advanced infrastructure, and skill development.

Hitachi representatives informed that the power systems of nine metro rail networks currently operating in India are managed by Hitachi, highlighting the company’s strong technological capabilities and experience in large-scale urban transport systems.