The Jharkhand government has extended by three years the memoranda of understanding (MoU) it had inked with
Tata Steel and Mittal Steel for the
construction of steel plants in the state.
The MoUs were originally signed in the fall of 2005 with both companies agreeing to start work within two years. However, the fact that the companies have not yet been able to commence work has necessitated the extension of the MoUs with the local government.
The decision regarding the MoU extensions was taken at a high-level meeting chaired by Jharkhand government chief secretary P. P. Sharma after both companies made representations saying that work on the projects would start once they acquired the necessary land.