Essar Steel to invest in Jharkhand
Indian steel producer Essar Steel will reportedly invest Rupees 43 billion ($980 million) in Jharkhand to establish a three-million ton steel plant with Britain-based Hy-Grade Pellets Ltd (HGPL). The state government will help Essar Steel and HGPL supply iron ore in the state and it will provide land for the steel plant. The memorandum of understanding (MoU) regarding this project has been signed between the state government and Essar and HPGL previously.