In the future, Jharkhand will see major development. Adani Godda, following the Hindalco and Vedanta projects, will establish a cement factory with its power station.
Adani Godda announced the creation of a cement factory and its power plant project in an effort to reach the goal of self-reliance. After a meeting between Gautam Adani, Chairman of Adani Group and Dr. Nishikant dubey in Delhi, the consent was granted to establish a factory.
Dr. Dubey previously expressed concern about the high levels of fly ash generated by power generation. The Adani Group stated that the factory’s model will be sustainable. To make cement that can withstand all the challenges, fly ash will be used in large quantities. Limestone will be mixed with it. With an upcoming power plant of 1600 MW capacity based on super-critical technology and cement factory in Godda by the Adani Godda, the region is likely to become a big industrial hub. The state will have more opportunities for local workers, which will help to boost its overall economy.
The MP of Godda Dr Nishikant dubey stated that a permit has been granted on his behalf for a cement factory and power plant to be built in Godda. He hoped that the region would see more success and prosperity in the future with the support of conglomerates like these.
Jharkhand is one of India’s most mineral-rich states. This greatly contributes to India’s overall mineral production. It is home to more than 40% of India’s mineral wealth, making it attractive for investment. The state is preferred by the major industry players from different sectors due to its favorable conditions and huge potential for development.
Jharkhand has coal reserves of approximately 83,151 millions tonnes. It also accounts for 20-25% Indian steel production. Jharkhand produced 1,248 million tonnes of limestone in 2018-19. Its total value was Rs. 42.91 crore, or US$ 6.09 millions. In 2019-20, the total exports from this region were US$ 1,168.01 millions. Exports to the state were estimated at US$ 1,351.81 Million in 2020-21.
Apart from the Adani Group in Godda, Jharkhand houses various coal mines projects of numerous other companies. Hindalco’s Chakla coal block is expected to boost the sector and improve the socio-economic status for rural residents. Earlier, Vedanta also chose Jharkhand to set up a steel plant with a capacity of 4.5-million-tonne-per-annum at an investment of $3-4 billion. It will immediately increase the overall revenue and the employment rate once it is operational.
Conglomerates also engage in many CSR activities in their operating areas. Private players have made remarkable efforts in developing areas of the country. Conglomerates provided relief for many people in different regions, including free vaccinations and healthy food, even during the pandemic. Adani Group, Hindalco, and other groups have been working to promote education, healthcare, and sustainable livelihood in many remote areas of Jharkhand.