State to get Euro 320mn in investments after CM’s trip, says official

Ranchi: Jharkhand has received investment proposals worth over Euro 320 million (over Rs 3,059 crore) within a week of chief minister Hemant Soren led delegation's recent diplomatic mission to Europe, aimed at attracting investments to the state, which is lagging in major foreign direct investments (FDI) over the years.
This was revealed by the secretary of department of industries, Arava Rajkamal, who was part of the 11-member delegation team that accompanied the CM during a tour to Spain and Sweden from April 19 to 27.
Following the tour, two European companies have given positive nod to investment in Jharkhand, while another seven companies are deliberating with the state govt.
"Out of the two major investors, a Spain-based company Fira de Barcelona, which has expertise in organising exhibitions across the globe has given the govt written confirmation for developing a mega convention and trade exhibition centre in Ranchi with an investment of Euro 120 -170 million. Another Czech Republic-based battery manufacturer, Tesla Group has given their nod to establish a manufacturing unit investing Euro 150 million. However, the group is in discussion with another govt in India for establishing the unit. If Jharkhand can match the company's requirements, the unit will be established, we have already received letter of intent from the company," Rajkamal said.
Tesla Group nodded positively to set up a GIGA factory in Jharkhand to assemble commercial and industrial battery storage products.
This apart, Barcelona-based football team, RCD Espanyol have shown their intent to sign a memorandum of understanding with the Jharkhand govt to train coaches from the state.
Another Spanish company Zitron, which expertise in designing, manufacturing, and supplying custom-made ventilation systems for underground mines, road and railway tunnels has responded to relocate and expand its manufacturing unit from Delhi to Jharkhand.
During their Sweden visit, the delegation visited the IVL Swedish Environmental Research Institute and engaged in extensive discussions and explored areas for potential collaborations on water and waste management, environmental technologies, e-mobility, and waste-to-energy initiatives.
While, another two Spanish companies from the solar sector, Novargi and Gransolar offered the govt for joint ventures in the energy sector.
The visit was focused mainly on identifying green technology partnerships in mining, steel and electric vehicle sector, attracting investment leads for industrial areas of the state, learning best practices in mining and clean energy sector. This apart, the delegation explored about join ventures and knowledge transfer in food processing, exhibition hubs, and sports infrastructure.
Prior to the Europe tour, Jharkhand's last international investor outreach through road shows was conducted in 2016-17 in USA and Canada. Thus the state had not been actively promoting investments on global platform for over nine years.
The govt has identified Japan, Taiwan and Australia as investment destinations which will possibly be visited, informed the industries secretary.