Essel Infraprojects to invest Rs 5,700 crore in Jharkhand

Ranchi: Essel Infraprojects Ltd (EIL) on Thursday said it has committed an investment of Rs 5,700 crore for development and enhancement of infrastructure in Jharkhand.

The announcement was made at the Momentum Jharkhand Investors Summit in Ranchi and the MoU for investment will be inked between the state government and Essel Infraprojects Ltd.

"Essel with its futuristic objective to build smarter communities and world class infrastructure is targeting projects like roads & energy with an investment of Rs 4,000 crore & Rs 1,100 crore respectively," the company said in a statement.

"The remaining Rs 600 crore will be pledged towards investments in Urban Infrastructure, Energy including Hydro Power and Tourism. The projects are expected to generate employment to over 1000 locals in the state," it said.

Essel Group said: "With our expertise in handling complex infrastructure projects, this MoU provides a unique opportunity to enhance existing infrastructure and provide new transition to the development of Infrastructure in the State."

EIL will also make investment towards Corporate Social Responsibility (CSR) where the company will arrange training, run ITI/ Polytechnic institutes for developing skill-sets amongst the youth for changing economy.

The government of Jharkhand will facilitate Essel Infraprojects Ltd to obtain permissions/registrations/ approvals/clearances from the concerned departments of the state, as per the existing policies/rules and regulations.