From correspondents in Jharkhand, India, 12:02 AM IST

Reliance-Anil Dhirubhai Ambani Group (R-ADAG) has proposed to invest Rs.400 billion in Jharkhand to set up a 12-million-tonne per annum greenfield steel plant, it was announced here Monday.

'R-ADAG has moved a proposal to set up 12-million-tonne steel plant in the state with an investment of Rs.400 billion,' state Industries Sectary K.K. Khandelwal said.

'The proposal has been sent to (state-owned consultancy firm) Mecon Ltd for further study,' he added.

The Jharkhand government and Reliance Infrastructure, part of R-ADAG, will sign a memorandum of understanding once the proposal is cleared, the official said.

(Staff Writer, © IANS)