Vedanta announces new investments of Rs. 1 lakh crore in various projects across Odisha
Oct 19, 2024
Mumbai (Maharashtra) [India], October 19 : Vedanta Limited has announced a new investment of Rs. 1 lakh crore to set up an alumina refinery and an aluminium plant in Odisha.
The company said that the investment will be directed towards establishing a 6 million tons per annum alumina refinery and a 3 million tons aluminium plant, focused on producing green aluminium powered by renewable energy.
In addition, the company in collaboration with the Government of Odisha will establish education centres, hospitals, skill development centres, and Nandghars to benefit the people of the state.
It said this will be the largest investment ever made in Odisha which will create 2 lakh jobs and opportunities for 1000s of MSMEs.
Reacting to the investment move by the Vedanta, Chief Minister of Odisha Mohan Charan Majhi said, "We are organising the Make In Odisha event "Utkarsh Odisha" in January 2025 and today during the pre-event roadshow, we had a fruitful interaction with Vedanta Chairman Anil Agarwal who is impressed by our new robust policy framework. He has joined hands with our government to double their investment in Odisha and further invest Rs. 1 Lakh Cr including a new 6 Million Ton Alumina refinery & 3 Million Ton Smelter which will create more jobs for the people of the state. I take this opportunity to thank Agarwal for this new investment and ensure that the state government will provide full support towards the development of these projects."
Anil Agarwal, Chairman, of Vedanta Ltd, commented, "Odisha has always played an important role in Vedanta's growth. Our investments reflect our commitment to the state's inclusive growth and driving large-scale industrialization. Under the leadership of CM Mohan Charan Majhi, we will continue to contribute to the state's economic progress, empower communities, and enhance the quality of life for millions in Odisha."
Indian multinational mining giant, Vedanta Limited is headquartered in Mumbai, with its main operations in iron ore, gold and aluminium mines in Goa, Karnataka, Rajasthan and Odisha.
