Tata Steel renews lease deal with Jharkhand

Tata Steel renews lease deal with Jharkhand

Indian steelmaker Tata Steel Ltd renewed the Jamshedpur lease deal with the state government of Jharkhand. The 30-year deal is effective retroactively from January 1, 1996. The same terms and conditions included in the earlier lease document have been carried over to the new deal. The land leased includes the land Tata was built on and also vacant land that will be used for future projects. The deal stipulates that Tata Steel will pay Rupees 250 million ($5.7 million) a year to the Jharkhand government over the life of the contract.