The Jharkhand government has started working on the investment proposals that it has received during its two-day global investors’ summit last month.

According to Sunil Kumar Barnwal, Secretary to Chief Minister, IT, Industries, Mines and Geology, the government has already started investment facilitation meetings with companies to ensure that memorandum of understanding (MoUs) materialise.

Such facilitation meetings have already been carried out in Bengaluru, Mumbai and Kolkata.

In the two-day investors’ summit, Jharkhand secured investment commitments to the tune of Rs 310,000 crore.

“We have started following up on the investment commitments,” he pointed out.

Barnwal further told BusinessLine, on the sidelines of the CII event, nearly Rs 200,000 crore worth of investment commitments are into “big manufacturing” mostly covering sectors like heavy industries, mining, power and so on. These proposals are mostly long-term in nature and are likely to materialise over a five-to-ten-year-period.

“At least 172 MoUs covering investment commitment worth of Rs 72,000 crore from micro, small and medium enterprises (MSMEs) are expected to materialise within 2019,” he added.

Meanwhile, Jharkhand was also pushing to present itself as a favourable destination for IT. Accordingly, 170 acres of land had been earmarked to set-up an IT-park.

“However, with there being a slowdown in the sector, we have decided to re-work the scheme,” the senior bureaucrat said adding that at presence land will be broken down into four different parcels (of approximately 40 acres)

Request for proposals (RFPs) to develop these parcels will be floated soon.