Vedanta announces new investments of Rs 1 lakh crore in various projects across Odisha

MUMBAI: 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 two lakh jobs and opportunities for 1,000s of MSMEs.

Reacting to the investment move by the Vedanta, Odisha Chief Minister Mohan Charan Majhi said, “We are organising the ‘Make In Odisha’ event, ‘Utkarsh Odisha’, in January 2025 and during the pre-event roadshow on Friday, 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 crore including a new 6 million ton alumina refinery and 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”.

CM Shri @MohanMOdisha, along with Industries Minister Shri Sampad Chandra Swain met Shri @AnilAgarwal_Ved, Chairman of @Vedanta_Group to discuss Vedanta’s aluminum downstream expansion and manufacturing units in other mineral-based industries. #UtkarshOdisha #InvestInOdisha… pic.twitter.com/af8Hy7AFrL

— CMO Odisha (@CMO_Odisha) October 18, 2024

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 largescale industrialisation. 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. (ANI)