Ranchi: In a significant push to attract foreign investment, senior officials from Jharkhand’s delegation to Spain and Sweden announced that the state has received investment proposals worth €440 million across key sectors, including manufacturing, energy, infrastructure, and sports development.
Addressing a press conference in Ranchi, Arwa Rajkamal, Secretary of the Department of Industries, said that the foreign tour—led by Chief Minister Hemant Soren—was aimed at boosting Jharkhand’s visibility as an investment destination. He said, “The visit has yielded encouraging results. Multiple companies have expressed interest in investing in Jharkhand, and we have already received seven solid proposals within just a week of the delegation’s return.”
One of the major proposals includes the development of a mega convention and trade exhibition center in Ranchi, modeled after the “Fira de Barcelona International Convention Centre,” with an investment of €120–170 million. A Letter of Intent (LoI) for the project was handed over in the presence of India’s ambassador to Spain.
Another significant proposal came from Tesla Group SK’s chairman Dusan Licards, who expressed interest in establishing a battery storage manufacturing facility in Jharkhand, with an estimated investment of €150 million, based on their ongoing Gigafactory project in Romania.
The delegation also received a proposal from RCD Espanyol Football Club to collaborate on football development in Jharkhand, including training local coaches, through a formal MoU.
During their Spain visit, the delegation toured the under-construction FC Barcelona Stadium, one of Europe’s largest sports infrastructure projects, and held discussions with FC Barcelona Vice President Elena Fort. The team also visited the D’Gava Museum, a repurposed former mining site, which inspired plans to convert Jharkhand’s mining heritage sites like Chaibasa into geo-tourism destinations.
An investor meet in Barcelona saw active participation from Indian expatriates and European business leaders. One-on-one meetings were held covering topics such as sports marketing, branding, entrepreneurship, and environmental sustainability. The Chief Minister encouraged investors to explore Jharkhand under its robust startup policy.
Volvo invited to set up truck manufacturing plant in Jharkhand
In Sweden, the delegation visited Gothenburg, where presentations were made to over 50 global investors about opportunities in manufacturing, EVs, mineral processing, and clean energy. The team toured the Volvo Truck plant, following which Chief Minister Hemant Soren formally invited Volvo to set up a large-scale manufacturing facility in Jharkhand, citing growing demand for heavy-duty vehicles in mining.
Industries Secretary Arwa Rajkamal emphasized the long-term impact of such global outreach. “Foreign investors need visibility and confidence to invest. This visit, the first by an official delegation from Jharkhand in nearly nine years, has significantly boosted international awareness of our state,” he said.
He added that Jharkhand contributes 2.5% to India’s GDP but receives only 0.98% of foreign investment—a gap this initiative aims to close.
The press conference was attended by Sushant Gaurav, Director, Industries; Rahul Kumar Sinha, Mining Commissioner; Varun Ranjan, Managing Director, JIADA; and other senior departmental officials.