State pushes steel hub plan as companies commit billions

In a push to reposition Bihar as a major steel manufacturing centre, the state cabinet approved MOUs worth roughly 51,600 crore rupees on Thursday. With Chief Minister Samrat Chaudhary overseeing the event, leading steel producers signed on to set up large plants, power units and ancillary facilities.

The agreements span companies such as Shyam Steel Manufacturing, Shakambari Steel & Power, Nakshit Iron & Steel, Shri Langta Baba Metals & Power, Ankura Steel, and Shri Samriddhi Steel. Their combined investment is expected to catalyse the creation of an industrial corridor, generate extensive employment and attract downstream vendors.

Beyond steel, the MOUs also target textiles, nuclear energy, food processing and pharma. Global Renewable Advanced Clean Energy Pvt. Ltd. pledged funding for a nuclear‑linked clean‑energy project, reflecting the state's ambition to diversify its energy mix.

Chief Minister Chaudhary stressed that the steel hub will act as an engine for broader economic development, linking Bihar’s raw material base with national and export markets. The government will offer incentives, fast‑track clearances and infrastructure support to ensure projects progress swiftly.

The session also reviewed the upcoming Bihar Business Connect‑2026, an investment summit intended to showcase these opportunities to global capital providers. Officials said the event will underline Bihar’s "Build and Believe" message and demonstrate a streamlined, investor‑friendly environment.