IHCL inks pact with Jharkhand govt to set up Taj hotel in Ranchi

Ranchi, July 24 (PTI) Tata group hospitality firm IHCL on Wednesday entered into a pact with the Jharkhand government to set up a Taj hotel in Ranchi at an estimated investment of Rs 400 crore.
    This 200-room greenfield facility will be Indian Hotels Company Ltd's sixth project in the state after one Vivanta-branded property and four Ginger hotels.
    Describing it as a historic day, Chief Minister Hemant Soren said the establishment of the Taj hotel would promote tourism in the state and give Jharkhand a global identity.
    "Jharkhand's relationship with the Tata group is very old. This relationship has been more than 100 years old. During this time, the Tata group played an important role in the development of Jharkhand through industrialisation and other means. We can strengthen this relationship even more," he said.
    Soren said lakhs of people were employed here by the steel-to-salt conglomerate.
    The upcoming hotel, which will be built on a six-acre plot in Dhurwa, will provide direct and indirect employment to around 1,000 people, an official said.
    "This group is coming forward to establish many more enterprises here. In such a situation, the state government is ready to walk hand in hand with this group. With the participation of all of us, we will be able to bring mineral-rich Jharkhand into the category of leading states," the CM said.
    He said the Tata group has a role in taking the country forward, and Jharkhand plays a crucial role in India's economy with its mineral and other resources.
    He also said that with a luxury brand like Taj coming to the state, Jharkhand, which keeps on organising international sports events, will be in a position to provide better accommodation to guests.
    IHCL CEO Puneet Chhatwal said, "We are delighted to bring the iconic Taj brand to Ranchi, a city with immense potential for growth. Ranchi’s strategic location and its ongoing transformation into a smart city make it a promising destination. This signing aligns with the strategy of building our presence in the region, which is fast developing into a significant industrial, commercial and cultural hub."
    IHCL, the country's largest hospitality company by market cap, has a portfolio of 263 hotels, including 75 under development, across 12 countries and in over 100 locations.

(This story has not been edited by THE WEEK and is auto-generated from PTI)