In Short – Vedanta has pledged ₹1 lakh crore for a refinery and plant in Odisha. This substantial investment aims to boost the state’s industrial growth and create numerous job opportunities. The project reflects Vedanta’s commitment to enhancing local infrastructure and supporting sustainable development in the region, contributing to India’s overall economic progress.
In Detail : BHUBANESWAR – In a major boost to Odisha’s industrialisation push, Vedanta Limited on Friday announced a new investment of Rs 1 lakh crore in the state.
The investment will be directed at establishing a 6 million tonne per annum (MTPA) alumina refinery and a 3 million tonne plant for producing green aluminium powered by renewable energy.
The announcement was made by Vedanta Ltd chairman Anil Agarwal during his one-to-one interaction with Chief Minister Mohan Charan Majhi at the G2B meet organised by the state government in Mumbai on Friday for inviting industry leaders to the Utkarsh Odisha: Make-in-Odisha Conclave in January next year.
This will be the largest investment ever made by the conglomerate anywhere in the world and generate two lakh jobs along with opportunities for hundreds of MSMEs in the state. “The refinery and plant will create a massive industrial complex for the downstream industries as demand for aluminium is likely to double by 2030. This investment is in addition to the earlier investment of Rs 1 lakh core which has already created more than one lakh jobs in the state in the last two decades,” the company said.
The chief minister thanked Agarwal for the new investment plans. “The interaction with Vedanta chairman was fruitful, as impressed by our robust policy framework, he has assured to double their investment in Odisha to establish a new alumina refinery and create more jobs. The state government will provide full support for the projects,” he said.
Agarwal said, Odisha has always played an important role in Vedanta’s growth. “Our investments reflect our commitment to the state’s inclusive growth driving large-scale industrialisation. We will continue to contribute to the state’s economic progress, empower communities, and enhance the quality of life for millions,” he said. As Odisha aspires to be a half-trillion-dollar economy, the aluminium major said it has envisioned Rayagada as a developed region, akin to Jharsuguda.
Majhi holds talks with biz leaders in Mumbai
It has already acquired Sijimali mines through auctions, one of the largest deposits of bauxite.
Vedanta has set up the world’s largest integrated aluminium smelter plant at Jharsuguda with a capacity of 1.8 MTPA and an alumina refinery at Lanjigarh in Kalahandi district having a 3.5 MTPA capacity.
In collaboration with the state government, the aluminium major has also announced to set up education and skill development centres and hospitals to benefit the people.
Majhi also interacted with JSW Group MD Sajjan Jindal and urged him to expedite the proposed integrated EV and its components’ manufacturing project at Naraj in Cuttack district and also explore expansion of Bhushan steel plant in Sambalpur. Godrej Group chairman Nadir Godrej, Welspun Group chairman Balkrishan Goenka,
Reliance Industries director Anant Ambani and Laxmi Organic Industries chairman Ravi Goenka also met the CM to discuss investment plans for Odisha.
