Tata Steel Ltd on Friday announced huge investment plans in Jharkhand. It is to invest Rs 1,00,000 crore over the next 12 years to take its steel making capacity up to 34 million tonnes of which, around 40,000 to Rs 50,000 crore would be invested in Jharkhand itself.
It has also placed a request for another 400 million tonnes of ore for existing plants expansion programme to 10 million tonnes.
If another 1.4 billion tonnes of iron ore were allotted to Tata Steel it would leave only about 1 billion tonnes of free ore in the state. This would stem a doubt if there will be enough ore left to attract a big investment by the L.N. Mittal group, which has submitted a proposal to build a 12-bilion -tonne ore plant in Jharkhand.